List the Accounts Used in the Cost Flow for

question 97

Essay

List the accounts used in the cost flow for
(a) a manufacturer and
(b) a service provider.

---

Definitions:

Kinked-Demand Curve

A demand curve that has a distinct bend or "kink" at a certain price level, often used to describe price stability in oligopolistic markets.

Highly Elastic

Refers to a market condition where the demand or supply for a product responds very significantly to changes in its price.

Highly Inelastic

Describes a situation where the quantity demanded or supplied of a good changes by a very small amount in response to changes in price.

Monopolistically Competitive

A market structure characterized by many firms selling similar but not identical products, with some control over prices.