If There Is an Increase in Market Demand in a Perfectly

question 210

Multiple Choice

If there is an increase in market demand in a perfectly competitive market, then in the short run

• A)there will be no change in the demand curves faced by individual firms in the market.
• B)the demand curves for firms will shift downward.
• C)the demand curves for firms will become more elastic.
• D)profits will rise.

Calculate the cost of ending inventory using different cost methods (specific identification, LIFO, FIFO, and weighted average).

Calculate the cost of goods sold under different inventory systems (perpetual and periodic).

Understand and apply the concept of days' sales in inventory and inventory turnover ratio for inventory management.

Understand the principles of the lower of cost or net realizable value for inventory valuation.

---

Definitions:

Compound Name

The systematic or common naming of chemical compounds based on their structure and the nomenclature rules of chemistry.

Spin-Spin Splitting

A phenomenon in NMR spectroscopy where a nucleus's magnetic field is split by the magnetic fields of neighboring nuclei.

Chemical Shift

A term used in nuclear magnetic resonance (NMR) spectroscopy to describe the change in magnetic resonance frequency of a nucleus due to its chemical environment.

Sample Proportions

The fraction or percentage of the sample that represents a particular trait or characteristic of interest.