Which of the following statements about the market structure of monopoly are correct?
a. a monopoly involves a market one or a few major firms.
b. the monopolist can charge any price she wishes and still operate at maximum profit.
c. the demand curve faced by the monopolist is the same as the total industry demand curve.
d. the monopolist is a "price taker." the monopoly is normally a huge firm such as wal-mart.

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?