The concept of economies of scale is used for achieving quality-based advantage
Indicate whether the statement is true or false
FALSE
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The imposition of tariffs on imports results in deadweight welfare losses for the home economy. These losses consist of the
a. protective effect and the consumption effect. b. redistribution effect and the revenue effect. c. revenue effect and the protective effect. d. consumption effect and the redistribution effect.
Bering Rock acquires a granite quarry at a cost of $590,000, which is estimated to contain 200,000 tons of granite and is expected to take 6 years to remove. What journal entry would be needed to record the expense for the first year assuming 38,000 tons were removed and sold?
A. Debit Depletion Expense $93,158; credit Accumulated Depletion $93,158. B. Debit Amortization Expense $112,100; credit Natural Resources $112,100. C. Debit Depreciation Expense $98,333; credit Accumulated Depreciation $98,333. D. Debit Depreciation Expense $93,158; credit Accumulated Depreciation $93,158. E. Debit Depletion Expense $112,100; credit Accumulated Depletion $112,100.
Since a product's price tends to be invisible, customers rarely have trouble moving past price to consider other critical benefits the product affords.
Answer the following statement true (T) or false (F)
Which of the following is the best example of a high-contact service?
A. Appliance repair B. Newspaper delivery C. Dog training D. Interior decorating E. Plastic surgery