The answer would be A. Shoes.
It is implied that a good has an inelastic supply if the supplier does not have a choice other than producing it despite the change in production cost. This would as well apply to the buyer, who needs the product no matter the pricing.No one can live without shoes, despite a spike in prices, we still need to buy them.
Answer:
D) control the desired price and output to maximize profits, but a perfectly competitive firm can only choose the desired output.
Explanation:
Firms competing in perfectly competitive markets are price takers, meaning that they cannot set the price of their products or services, but monopolists can actually set the price of their products or services because their market power is high enough to do so. Also, a monopolist can choose to lower or increase its output depending on the resulting profits.
This excessive market power is the reason why natural monopolies are usually regulated by the governments and many monopolistic firms are forced to split into smaller firms that compete against each other.
<span>The answer is B. Posting the date.
Here's the sequence of posting procedures.
First, Posting the date.
Second, posting the amount of the transactions.
Third,posting the page number of the journal in the Post. Ref. column of the ledger account.
And lastly, recording the posting ref. information</span>
Answer:The Australian Charities and Not-for-profits Commission Act 2012 (ACNC Act) governs eligibility of a not-for-profit entity to be registered as a charity for federal purposes, and establishes governance standards and reporting requirements for registered organizations
WARNING: I am not sure I am right
Explanation:
