At a Ski Resort Located Over One Hour from the Nearest

question 13

Multiple Choice

At a ski resort located over one hour from the nearest largetown, there is only one grocery store and it charges pricesmore than 200 percent above the typical retail prices. In thelong run, we would expect that:

• A)another store will open that will charge equally high prices since competition is low.
• B)the store will continue to earn high profits even in the long run since the size of the market is small.
• C)demand will decrease since people will not want to pay the high prices.
• D)another store will open that will charge lower prices.(True Answer )Correct

Calculate and analyze dividend yields and their changes over time.

Apply formulas in spreadsheets for stock market analysis.

Understand different types of literacies like information literacy, media literacy, computer literacy, and cultural literacy.

Identify strategies for interpreting and utilizing information effectively.

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Definitions:

Prepaid Rent

An asset account on the balance sheet representing rent payments made in advance of the rental period.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenditure to the appropriate periods.

Accrued Fees

Charges that have been incurred but not yet paid or recorded at the end of a reporting period, representing liabilities on the balance sheet.

Earned

Earned typically refers to income or revenue that has been generated from businesses activities or investments and is recognized upon the delivery of goods or services.