Determine whether the following firms operate in an industry that is considered a perfectly competitive market or pure monopoly. a. Katherine's Orchard sells apples in Washington, a state in which many orchards are selling similar apples. multiple choice 1 Perfectly competitive market Pure monopoly b. The Station operates a gas station in a small town, with no close competitors for miles. multiple choice 2 Perfectly competitive market Pure monopoly c. Moe's Service Center is the only service station in town to offer brand name tires. multiple choice 3 Perfectly competitive market Pure monopoly d. The Coffee Shop offers coffee for the market price. It is unable to charge any price above the market price or customers will purchase coffee from a competitor. multiple choice 4 Pure monopoly Perfectly competitive market

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

Greater concern for innovation and quality has shifted the job trend to using more broadly defined jobs. t/f

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?