In a market structure in which there are a large number of buyers and sellers, the pricing impact of any single firm will be fairly ________.
Fill in the blank(s) with the appropriate word(s).
small
Industry structure plays an important role in setting price. For example, in a market structure in which there are a large number of buyers and sellers, the pricing impact of any single firm will be fairly small. However, in an industry in which a small number of firms compete, firms will typically match the price of its competitors.
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In Walt Disney's Magic Kingdom, customers can visit a fairy kingdom, a pirate ship, or even a haunted house. Disney is marketing a(n) ________
A) experience B) service C) event D) organization E) good
Which of the following statements is false regarding absorption costing?
A) Variable overhead is treated as a product cost. B) Absorption costing is required for external financial statements prepared in accordance with generally accepted accounting principles (GAAP). C) Fixed manufacturing overhead is treated as a product cost. D) Fixed manufacturing overhead is expensed in the period incurred.
Read the scenario. As you read, consider your position in relation to the ethical and legal forces at work, and then answer the question. You work for Holstead Communications, a midsized digital phone, cable, and Internet service provider in rural New Mexico. Your company has always provided customers with two billing options: paperless or traditional. As a cost-saving measure, the company has
decided to discontinue its traditional billing option. All customers who choose the traditional billing option will be charged a yearly billing fee of $25. This fee will offset printing and mailing costs of $600,000 annually. The CFO and legal team have determined that Holstead is not legally obligated to announce the fee increase to its customers. Therefore, to avoid customer loss, negative press, and a potential decrease in revenue, Holstead will not announce the new fee. Instead, customers with traditional billing options will see a $2.08 increase on their monthly bills. As a customer service representative, you understand the difficulties that the additional fee will pose for some customers. For example, you know that some of Holstead's older customers and customers who don't speak English won't be able to decipher the additional fee on their bills. You are uncomfortable with the choice that top management has made regarding billing fees. Despite your concerns, you know you will be up for promotion next month, and you have decided not to jeopardize your chances for advancement. This company's decision to add a hidden fee is _________. A. legal, yet unethical B. illegal, yet ethical C. legal and ethical Fill in the blank(s) with correct word
Consider a firm with an annual net income of $20 million, revenue of $60 million and cost of goods sold of $25 million
If the balance sheet amounts show $2 million of inventory and $500,000 of property, plant & equipment, what is the inventory turnover? A) 12.50 B) 10.00 C) 42.00 D) 4.16 E) 20.00