Financial Statement Presentation Vera Corp. reported the following amounts for the year just ended: Land $840,000
Patents 175,000
Equipment 280,000
Buildings 1,050,000
Goodwill 245,000
Accumulated amortization 70,000
Accumulated depreciation 560,000 Prepare a partial balance sheet for these amounts

Answers

Answer 1

Partial Balance Sheet As of [Date] Assets: Land $840,000 Patents $175,000 Equipment $280,000 Buildings $1,050,000 Less: Accumulated Depreciation ($560,000) Net Property, Plant and Equipment $1,605,000 Goodwill $245,000 Total Assets $2,825,000

Assets:

Land $840,000

Patents $175,000

Equipment $280,000

Buildings $1,050,000

Goodwill $245,000

Less: Accumulated Amortization $70,000

Less: Accumulated Depreciation $560,000

Net Property, Plant and Equipment $1,485,000

Here's a presentation of the relevant assets and their accumulated amortization and depreciation: Assets: - Land: $840,000 - Patents: $175,000 - Equipment: $280,000 - Buildings: $1,050,000 - Goodwill: $245,000 Less: - Accumulated Amortization: $70,000 - Accumulated Depreciation: $560,000 Partial Balance Sheet: Assets: 1. Land: $840,000 2. Buildings (net): $1,050,000 - $560,000 (Accumulated Depreciation) = $490,000 3. Equipment: $280,000 4. Intangible Assets: a. Patents (net): $175,000 - $70,000 (Accumulated Amortization) = $105,000 b. Goodwill: $245,000 The partial balance sheet, presented as a list, includes Land ($840,000), Buildings (net, $490,000), Equipment ($280,000), Patents (net, $105,000), and Goodwill ($245,000).

Total Assets $2,750,000

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Related Questions

What do you mean by a facilitator? What are the major jobs of a facilitator of non formal educational programme​

Answers

Explanation:

It is important to note that much of the intermittent formal learning throughout people's....Part of being an effective facilitator of informal learning ( and non-formal education) involves.

Answer:

The definition of facilitate is "to make easy" or "ease a process." What a facilitator does is plan, guide and manage a group event to ensure that the group's objectives are met effectively, with clear thinking, good participation and full buy-in from everyone who is involved.

carmen camry operates a consulting firm called help today, which began operations on december 1. on december 31, the company’s records show the following selected accounts and amounts for the month of december.

Answers

Cash: $4,000 - This amount represents the total cash receipts for the month, including any money collected from customers, payments received from vendors, and any other sources of cash.

Accounts Receivable: $6,000 - This amount represents money that Carmen Camry's consulting firm is owed by customers for services rendered in the month of December.

Accounts Payable: $3,000 - This amount represents money that Carmen Camry's consulting firm owes to vendors for expenses incurred in the month of December.

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What is the marginal revenue and marginal cost for this diagram?

What type of market is this? Explain your answer

What is the marginal revenue and marginal cost for this diagram?What type of market is this? Explain

Answers

Marginal revenue :

2060120200300420560

Marginal cost :

108210192640

It is a Monopolistic market structure because marginal revenue is greater than the marginal cost.

Marginal Revenue is the increase in the revenue by selling one extra product in the market. It is calculated by the Change in revenue divided by the change in output.

Marginal cost is the change in cost by producing one extra unit of output. It is calculated by a change in cost divided by the change in units.

Monopolistic market structure is where there are multiple companies producing similar products in the market.Example for monopolistic structure can be a grocery store.

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Mary used her brokerage account and bought 30 shares of Apple for $125.00 with buying fees of $4.50. A year and a half later, she sold her 30 shares of Apple for $150.00 with selling fees of $4.50. Assuming capital gains tax rate of 15%, what is Mary's profit?

Answers

Assuming the capital gains tax rate is 15%, Mary's profit will be $612.85.

What is the profit about?

To calculate Mary's profit, we first need to determine her total cost and total revenue from the transaction.

Mary's total cost is the sum of the cost of the shares and the buying fees:

Total cost = (30 shares * $125 per share) + $4.50 buying fees

Total cost = $3,774.50

Mary's total revenue is the sum of the revenue from the shares and the selling fees:

Total revenue = (30 shares * $150 per share) - $4.50 selling fees

Total revenue = $4,495.50

To calculate Mary's capital gain, we subtract the total cost from the total revenue:

Capital gain = Total revenue - Total cost

Capital gain = $4,495.50 - $3,774.50

Capital gain = $721

Mary's capital gains tax is calculated by multiplying her capital gain by the capital gains tax rate:

Capital gains tax = Capital gain * Capital gains tax rate

Capital gains tax = $721 * 0.15

Capital gains tax = $108.15

Finally, Mary's profit is calculated by subtracting the capital gains tax from the capital gain:

Profit = Capital gain - Capital gains tax

Profit = $721 - $108.15

Profit = $612.85

Therefore, Mary's profit is $612.85.

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adidas own reebok and rockport both of which offer different types of shoes, having a variety of brands allow adidas to used a differencated target

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This approach enables Adidas to address the needs and wants of diverse target groups, such as athletes, casual shoe wearers, and fashion-conscious consumers, thus expanding their market reach and customer base.

Yes, it's true that Adidas owns both Reebok and Rockport, which offer different types of shoes. By having a variety of brands under its umbrella, Adidas is able to target different consumer segments with differentiated product offerings.

For example, Rockport may appeal to a more mature and sophisticated audience looking for comfortable and stylish dress shoes, while Reebok may appeal to a younger and more athletic audience looking for performance-driven sneakers.

And with Target being a major retailer that carries a wide range of brands, it's possible that they may carry both Rockport and Reebok shoes, providing Adidas with additional distribution channels and access to diverse consumer segments.

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What was the opening price of Dow Jones Industrial Average on Jan 10, 2019 in the format of XXXXX.XX?

Answers

Answer:

Explanation:26,379.59

Brooklyn is paid biweekly. Her annual salary is $63,700. What is her biweekly gross pay?​

Answers

Brooklyn's biweekly gross pay, given the amount that she is paid annually, is $ 2, 450

How to find the biweekly gross pay?

A person's biweekly gross pay is the amount that they are paid every 2 weeks that is not adjusted for taxes and other deductions.

In a year, the number of two week periods are :

= Number of weeks / 2

= 52 / 2

= 26 biweekly periods

The biweekly salary of Brooklyn is therefore :

= Annual salary / number of biweekly periods

= 63, 700 / 26

= $ 2, 450

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_____ refers to These are expenditures creating future value. They are incurred when a property owner spends money to upgrade a building in an effort to add value and/or extend the useful life of the building

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Answer:

please can you explain it better

Annual saving $ 5,000 Interest rate 10% Years to retirement 43 if, instead of investing $5,000 per year, you wanted to make one lump-sum investment today for your retirement that will result in the same retirement saving, how much would that lump sum need to be?

Answers

$ 5,000 in annual savings 10% interest rate Years until retirement 43 If, instead of investing $5,000 each year, you wanted to make a single lump-sum investment for your retirement now that would result in the same retirement savings, that lump payment would need to be $20,343.47.

If you invest $5,000 per year for 43 years at an interest rate of 10%, the future value of your retirement savings would be:

⇒ FV = 5000 * (((1+0.10)^43 - 1) / 0.10) = $2,499,636.29

Now, to calculate the lump sum amount that would result in the same retirement savings, we need to use the present value formula:

PV = FV / (1+r)^n, where PV is the present value, FV is the future value, r is the interest rate, and n is the number of years.

Plugging in the values, we get:

⇒ PV = 2,499,636.29 / (1+0.10)^43 = $20,343.47

Therefore, you would need to make a lump sum investment of $20,343.47 today to achieve the same retirement savings as investing $5,000 per year for 43 years at an interest rate of 10%.

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why planning is important before starting a business? ​

Answers

Answer:

So you can get ready to know 'how to make your business good'

If you don't plan, then you'll forget to setup something is may be important

Explanation:

Hope this helps :)

I have a

Debit card
The internet
An email

What is a way I can make money from home but under 18.

Answers

Answer:

start animation or selling online

Among the key management skills, which do you think is the most important skill that a manager should possess?

Answers

Answer:

Good communication

Explanation:

Having good communication skills is probably the most important skill of all for managers to have. Unless you can properly communicate with those you supervise, the rest of the skills really won't matter.

The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Beg Bal 4,900 8,800 5,100 Work in Process Beg Bal 4,000 22,100 6,100 8,400 8,200 Finished Goods Beg Bal 2,100 20,300 22,100 Manufacturing Overhead 2,700 8,200 3,400 3,100 Wages & Salaries Payable 20,300 Beg Bal 2,400 11,800 Cost of Goods Sold Beg Bal 20,300 The Cost of Goods Manufactured was:

Answers

The Cost of Goods Manufactured for Faaberg Corporation during the year was 64,500.

Faaberg Corporation had a busy year of manufacturing. To summarize the transactions, the company had a beginning balance of 4,900 in Raw Materials, 4,000 in Work in Process, and 2,100 in Finished Goods.

Throughout the year, the company had additional purchases of 8,800 for Raw Materials, 22,100 for Work in Process, and 8,200 for Finished Goods. Manufacturing Overhead totaled 2,700, Wages & Salaries Payable totaled 20,300, and Cost of Goods Sold totaled 20,300.

To calculate the Cost of Goods Manufactured, we need to add the beginning balances of Raw Materials, Work in Process, and Finished Goods, as well as the total purchases of each item. The resulting sum is the total cost of goods manufactured:

Raw Materials: 4,900 + 8,800 = 13,700

Work in Process: 4,000 + 22,100 + 6,100 + 8,400 = 40,500

Finished Goods: 2,100 + 8,200 = 10,300

Total Cost of Goods Manufactured: 13,700 + 40,500 + 10,300 = 64,500

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Read the following descriptions. Decide who demonstrates good habits and attitudes.


Michael likes his job. He decides to take a few finance classes so that he becomes better at his job. This will also help in case he wants to transfer to a new position in the same company.

Bryan thinks he has the best job. He thinks he is already doing the best he can and doesn't do anything to improve his skills.

Answers

Answer:

Michael demonstrates good habits and attitude

Explanation:

Michael likes his job and takes the initiative to do better so he can get a new position,however Bryan is very cocky and doesn't try to get better.

A time-series trend equation is 25.3 + 21 x. What is your forecast for period 7? 0 40.0 324.1 25.3 32.3 O 172.3

Answers

The forecast for period 7 is 172.3. The correct answer is: 172.3

To forecast for period 7 using the given time-series trend equation of 25.3 + 21x, we need to substitute x with the corresponding period number.

For period 7, x would be 7. So, we plug in x = 7 into the equation:

Forecast for period 7 = 25.3 + 21(7)

= 25.3 + 147

= 172.3

Therefore, the forecast for period 7 is 172.3.

The correct answer is:

172.3

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How important is money

Answers

Answer:

very important

Explanation:

money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.

what did antonie van leeuwenhoek call his discovery

Answers

Answer:

Antonie Van Leeuwenhoek called his discovery "wee animalcules"

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a monopolistic competitor has fixed costs of $200 and marginal costs of $10 per unit. what is its average cost of producing 100 units?

Answers

The average cost of producing 100 units will be $22

Cost of one product can be found as total cost / number of units

200/ 100 = $2

Marginal cost per unit is $10

Hence average marginal cost is 200/10 = $20

So total average cost is 20 + 2 = $22

A form of imperfect competition known as monopolistic competition pits numerous producers against one another by selling distinctive goods that are not exact substitutes for one another. A company engaged in monopolistic competition disregards how the prices set by its rivals are impacted by its own prices and considers them as given. In the face of coercive authority, monopolistic competition will transform into a government-granted monopoly.

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How to find total cash outflow

Answers

Answer:

The total cash flow is calculated by subtracting 'Total Operating Expenses' from 'Total Sales Revenue.'

Explanation:

Total Cash flow is the net amount of cash flow in and out in a company or enterprise. The net amount of cash flow of a business is calculated by subtracting 'Total Operating Exppenses' from 'Total Sales Revenue.'

Total Sales Revenue is the net amount of sales of the business. It is the income of a company that it has received by selling its products. Total Sales Revenue includes the income such as investments, receipts, etc.

Total Operating Expenses is the net amount of expenses incurred to the business in its operation. It includes rent, insurance, pay costs, etc.

The formula of Total Cash Flow is:

Total Sales Revenue- Total Operating Expenses= Total Cash Flow.

HELPPPPP!!!!! ;) pls

HELPPPPP!!!!! ;) pls

Answers

Answer:

D - Partnership

Explanation:

How education is medium to enhance the ability of human beings?​

Answers

For the sake of argument let’s consider education to be defined as the act of schooling and subsequent intellectual upbringing (which obviously varies but let’s consider it as true)

The general education of a populace enhances the overall ability of humans by allowing a greater number of humans to be given the (intellectual) tools necessary (in agreence with Rene Descartes theory of obtaining “new knowledge” to improve upon previously held inclinations or even create new ones in order to increase efficiency or another set of reasons one might alter their natural inclinations. With that being said, general education is a tool that, when used properly, can be used to increase the overall ability of humans by means of increased intellectual ability.

Disadvantages of choosing a job that is extremely popular or in demand

Answers

The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.

What is a high demand job?

This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.

The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.

The number of qualified persons may become more than the job that is available for the people to do in the long run.

Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.

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According to public choice economists, the federal government has expanded because
A. the federal government is efficient in its spending.
B. deficit spending has reduced the perceived cost of current government operations.
C. taxpayers pay the full cost of current government operations.
D. the public likes to pay higher taxes to finance more programs.

Answers

Economists believe that the federal government has expanded because B. deficit spending has reduced the perceived cost of current government operations.

What do economists think of the federal expenditure?

They believe that because the government can finance more expenditure with debt, they have engaged in more expenses than they can actually afford.

This means that the government no longer views the cost of government operations as high because they can engage in deficit spending.

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At Nanclet, a market research firm, whenever a particular team needs to hire people, the human resource (HR) department conducts the external recruitment processes for them. The HR department also furnishes the recruiters of the recruiting team with a list of questions they are expected to ask all the job applicants, irrespective of the applicants' work experience. In the context of employee selection, this scenario best illustrates _____.

Answers

Answer: Structure interview

Explanation:

A structured interview is a form of interview used by an organization in order to ensure that each interview is presented to each candidate with exactly the same questions and also in the same order.

It is a standardized way of interviewing the candidates for a job based on the particular needs of the job the candidates applied for. The candidates are asked same questions irrespective of their qualifications or experience.

some people argue that china is currently experiencing a bubble, especially in real estate. if you agree, what possible problems might you encounter in trying to trade on your opinion?

Answers

Answer:

1. Difficulty in accurately predicting the timing of the bubble bursting: It is difficult to accurately predict when a bubble will burst, and any trades made in anticipation of a bubble bursting may be too early or too late.

2. Difficulty in accurately assessing the magnitude of the bubble: It is difficult to accurately assess the magnitude of the bubble, and any trades made in anticipation of a bubble bursting may be too large or too small.

3. Difficulty in accurately assessing the impact of the bubble: It is difficult to accurately assess the impact of the bubble, and any trades made in anticipation of a bubble bursting may be too risky or too conservative.

4. Difficulty in accurately assessing the underlying fundamentals of the market: It is difficult to accurately assess the underlying fundamentals of the market, and any trades made in anticipation of a bubble bursting may be based on incorrect assumptions.

5. Difficulty in accurately assessing the liquidity of the market: It is difficult to accurately assess the liquidity of the market, and any trades made in anticipation of a bubble bursting may be difficult to execute.

a company uses the weighted average method of process costing. it had 40,000 units in beginning inventory, which were 70% complete as to materials and 80% complete as to conversion. during the month, it started 110,000 units. at the end of the month, 32,000 units were in inventory, which were 65% complete as to materials and 60% complete as to 4 conversion. cost information is as follows:

Answers

A company uses the weighted average method of process costing. It had 40,000 units in the beginning inventory, which were 70% complete as to materials and 80% complete as to conversion and during month it started 110,000 units. At the end of the month, 32,000 units were in inventory which 65% complete as to materials and 60% complete as to conversion. The total cost accounted for the month is $1,614,360 with cost per equivalent unit of productions for direct material is $5.70 and for conversion is $4.87

Weighted average method is an approach to valuing a company's business inventory stock and determines the average cost of all inventory items.

Please reference to the first picture for more information about this case.

From the information we know that:

Beginning work in process inventory:

Direct materials costs                 $158,200

Conversion costs                        $193,600

Total beginning inventory cost                   $351,800

Costs added during the month:

Direct materials costs                $632,960

Conversion costs                       $629,600

Total costs added during the month        $1,262,560

Total production costs                               $1,614,360

                                    Units      Materials%     Conversion%

Beginning inventory  40,000         70%                80%

Unit started                 110,000

Ending inentory          32,000        65%                60%

To find the costs per equivalent units of production, we need to know the total equivalent units of production first.

The total equivalent units of production could be found by adding the units completed and transferred out with units of ending work in process. The equivalent units completed and transferred out could be calculated by adding the unit started at the month to the beginning inventory and eliminating the ending inventory units. Please make sure that the beginning inventory amount calculated here should be counted as 100% instead of the presented percentage in the case.

Equivalent units of production                         Direct materials  Conversion

Equivalent units completed and transferred out  129,200            130,800

Equivalent units for ending work in process         20,800              19,200

Total equivalent units of production                     138,800             169,199

Cost per Equivalent unit of production        Direct materials  Conversion

Costs of beginning work in process inventory  $158,200        $193,600

Costs added during month                                 $632,960        $629,600

Total costs                                                            $791,160          $823,200

Equivalent units of production                             138,800           169,199

Costs per equivalent units of production              $5.70              $4.87

For more complete calculation, please refer to the second image below.

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a company uses the weighted average method of process costing. it had 40,000 units in beginning inventory,
a company uses the weighted average method of process costing. it had 40,000 units in beginning inventory,

9) What is the PV of a eight-period annual annuity of $6,000 if the interest rate per period is 3% and the first payment is made today?
a. $41,441.21
b. $27,145.49
c. $12,112.05
d. $43,381.70

Answers

The present value (PV) of the eight-period annual annuity of $6,000, with an interest rate per period of 3%, and the first payment made today, is approximately $41,441.21.

To calculate the PV of the annuity, we can use the present value of an ordinary annuity formula:

PV = PMT * [1 - (1 + r)^(-n)] / r

Where PV is the present value, PMT is the payment amount, r is the interest rate per period, and n is the number of periods.

Given:

PMT = $6,000

r = 3% per year = 0.03 per period

n = 8 periods

Plugging in these values, we have:

PV = $6,000 * [1 - (1 + 0.03)^(-8)] / 0.03

Solving for PV, we find:

PV ≈ $41,441.21

Therefore, the PV of the eight-period annual annuity of $6,000 is approximately $41,441.21.

The present value of the annuity can be used to determine the current worth of future cash flows. In this case, the PV of the eight-period annual annuity of $6,000, with an interest rate of 3% per period and the first payment made today, is approximately $41,441.21. This represents the amount that would be needed today to have the equivalent value of the annuity's future cash flows.

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explain the aims of accelerated growth Initiative for South Africa

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Answer:

The Accelerated and Shared Growth Initiative for South Africa (AsgiSA) was prepared during 2005 and launched in February 2006. Its objectives were to introduce policies, programmes and interventions that would allow the South African economy to grow enough to halve poverty and unemployment between 2004 and 2014.

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using the lifo perpetual inventory method, what was the value of the inventory on november 8 after the sale?

Answers

The value of the inventory on November 8 after the sale would be the value of the items that were purchased on November 8 minus the cost of the items that were sold.

What is inventory?

Inventory is the total amount of goods and materials held in stock by a business. It is the raw materials, components, and finished products that a business has available to sell to customers or use in the production of other goods and services. Inventory can include anything from raw materials, to finished products, to parts and components that are used in the production process. Inventory management is an important part of a business’s success, as it helps to ensure that goods and services are available to customers in a timely manner. Inventory also helps to reduce costs by eliminating the need to purchase more materials and products than are needed. Properly managing inventory also helps to improve customer service, as businesses can quickly restock in the event of a shortage.

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One way to reduce international tensions is to foster global economic growth because:

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Fostering global economic growth is a powerful means of reducing international tensions because it promotes cooperation and interdependence among nations.

When countries are economically interconnected, they have a shared interest in maintaining stable relationships and avoiding conflict. Trade and investment create mutual benefits that incentivize nations to work together and resolve disputes peacefully. Furthermore, economic growth can lead to greater opportunities for individuals and communities, reducing the likelihood of unrest and conflict caused by poverty and inequality. By promoting economic development and cooperation, nations can build relationships based on mutual interests and respect, ultimately reducing the likelihood of tensions and conflicts.

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Other Questions
What should document creators keep in mind regarding the use of color in visuals?. Help! WILL MARK BRAINLIEST As the colonies grew, people began to specialize becoming: Question 3 Question 3a Assume you are the Minister of Finance and Economic Planning for Ghana, in charge of Fiscal Policy. The Research Director of the Ministry brought you the following data on Ghana for the previous fiscal year, 2021. An examination of the data reveals that, during the fiscal year 2021, households in Ghana saved 20% of their disposable income (Y) and spent the rest on consumption. In addition, GH5,000.00 was spent on Consumption expenditure (C), which is independent of income and Gross Private Investment (I) was GH7,000.00. Total Government expenditure (G) which stood at GHe8,000.00 was supposed to be financed by a lump sum tax of GH2,000.00 (independent of income) and a proportional tax rate of 25% of national income. Exports (X) stood at GH 2,500.00. In addition, the country's import (M) during the previous fiscal year comprises of GH1,000.00 which was independent of the country's national income and 10% which was dependent of the country's national income. Given these data on Ghana for the previous year: i. Compute the equilibrium level of income (Y), Consumption (C), Tax (T) and Savings (S). (Hint: C = a + byd; T = To+tY and M = M + mY) Determine the Government fiscal stance. (10 marks) (1 mark) iii. If the full employment level of national income is GH40,000.00, determine the income gap. iv. What fiscal policy would be appropriate to address this gap? (1 mark) (1 mark) V. If there is an increase in export to GH4,000.00, find the new level of equilibrium income. (2 marks) vi. Show how a GH 2,000 increase in government spending financed by a GH$2,000 increase in taxes will affect the level of national income. (2 marks) Question 3b Gross Domestic Product (GDP) is not a good measure of welfare in an economy. Discuss. 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How could you know this? cells that are able to perform transformation are called confiscated.truefalse What happens to the edge of tropical rainforests that are cut down for cattle to graze? A researcher isolates the blood of an individual who is sick. The blood is filtered through a porous material that will prevent all cells from passing through. The filtered serum of the blood is then injected into a healthy patient. This patient shows signs of the illness within days of the inoculation. What is the most likely causal agent of the disease based on this information?. can u guys give me some answer What did Jefferson do without the prior approval of Congress? Why are Foreignersnot required to take upNSTP? I need the answers to a b c and d PLZ DUE AT 11:59PM ITS 9:23PM One result of the rainshadow effect in the western United States is ? Monopolistic competition is a market structure that combines monopoly and competitive market elements. A monopolistic competitive market has freedom of entry and exit, but firms can differentiate their products. Therefore, they have an inelastic demand curve to set prices. However, because there is freedom of entry, supernormal profits will encourage more firms to enter the market, leading to regular earnings in the long term. One example of monopolistic competition is fast foods like Mcdonald's or Burger King. The fast-food chains compete on the quality of food as much as price. Product differentiation is a crucial element of the business. There are relatively low barriers to entry in setting up a new restaurant. Both companies also distinguish their goods from others by making their product physically different in style from their competitors. McDonalds iconic Big Mac compared to Burger King's Whopper, both are similar to each other in so far as theyre burgers but differ in their contents. Each is easily recognizable from the other and is associated with the fast-food chain that produces it. Each firm continues to push its international presence, although with mixed results. One reason is culture. Many Europeans, for instance, consider fast food to be a quintessentially American tradition. Food menus for Burger King and McDonald's sometimes struggle to appeal to foreign consumers, leaving international markets underdeveloped, particularly in the Asia-Pacific region. The fast-food market is quite competitive, yet each firm has a monopoly on its product. Some customers prefer McDonalds over Burger King or other brands. These preferences give monopolistically competitive firms market power, which they can exploit to earn positive economic profits.Post a quality response and post additional thoughts and/or questions Solve the following system of equations using elimination by eliminating the y variablefirst.5x + 2y = 32x + 3y = 10 write the ratios in the simplest form 12:16 According to Richard Jewell, we can each actively engage or participate in the humanities by ______________ . Cultures and Subcultures affecting consumer buying behaviour is a factor. Societal Factor Psychological Factor Situational Factor Personal Factor