Perfect competition is characterized by perfect information, no barriers to entry, and ________
A) limited buyers B) no monopolies
C) limited sellers D) heterogeneous products
B
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Mason Lawn Equipment uses a perpetual inventory system. Journalize the following sales transactions for this company. Explanations are not required
May 18 Sold $26,000 of merchandise on account, credit terms are 1/10, n/30, FOB destination Cost of goods is $15,600. May 22 Mason negotiated a $600 allowance on the goods sold on May 18. May 24 Mason paid freight of $450. May 26 Mason receives payment for the customer for the amount due from the May 18 sale. What will be an ideal response
Purchasers of theatre tickets receive a 20% discount if they purchase and pay for the full season at one time. This is an example of what type of product-mix pricing?
A) mixed bundling B) pure bundling C) cross-promotion D) captive pricing E) two-part pricing