According to Ipsos-Reid (2012),what Internet and Social Media Activity Have

question 54

Multiple Choice

According to Ipsos-Reid (2012) ,what Internet and social media activity have 90 percent of Canadian adults engaged in?

• A) reading online news
• B) setting up a Facebook profile
• C) banking online
• D) visiting an online social network

Understand the concept of imperfect competition and its variants, including monopolistic competition and oligopoly.

Understand the concept of product-variety and business-stealing externalities in monopolistic competition.

Recognize the characteristics of long-run equilibrium in monopolistically competitive markets, including price, average total cost, and marginal cost relations.

Identify conditions of efficient scale operation and excess capacity in firms.

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Definitions:

Revenue Recognition Principle

An accounting principle that dictates the conditions under which revenue is recognized and recorded.

Performance Obligations

Promises in a contract to transfer goods or services to a customer, central to revenue recognition principles.

Transaction Price

The total monetary value exchanged or agreed upon in a transaction.

Revenue Recognition

The accounting principle that dictates the conditions under which income becomes recognized as revenue.