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2 years ago

Which of the following are the characteristics of a competitive market? (Check all that apply.)

1 answer:

5 0

A competitive market refers to a market where there is no monopoly of producers of goods and services, therefore, competition is high because they all have mission to satisfy the wants of a large consumers.

The characteristics of a competitive market are:

Homogeneity of product: The product are made by different producers and encourages competition.

There are existence of many buyers and sellers in the market.

There is an access to derive perfect information on price of a product at any outlet in the market.

There are no charges for transaction costs in a competitive market

No barriers to entry into or exit.

In conclusion, there is no producers which can affect the market price through its supplying rate because there are excess supply of similar product in the market.

Learn more about competitive market here

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Management is considering a bonus system to increase production. One suggestion is to pay a bonus on the highest 5% of productio

Marina CMI [18]

Answer:

4099

Explanation:

we have mean = 4000

σ = 60 units

lets make X = weekly production

z = X-μ/σ

z = X-4000/60

At 0.05 level of signficance, z critical value = 1.645

we put this value into the equation

$z = \frac{x-4000}{60} \\1.645 = \frac{x-4000}{60}$

we cross multiply from here

60 * 1.645 = x - 4000

98.7 = x-4000

x = 4000 + 98.7

x = 4098.7

≈ 4099

the bonus would be paid on 4099 units

7 0

3 years ago

Generally, an income amount that relates to a future period and therefore can be set aside and included in income for that perio

Ket [755]

The term that is referred by the description above is RESERVES. The reserve is the amount that is being kept for future periods. This amount is separated to the current period's income, but is part of the next period if this is applicable. The answer is D.

6 0

3 years ago

In most casino states and counties, laws protect owners from liability claims arising from problems caused by gambling. In ethic

mote1985 [20]

Answer: We have no legal responsibility but do have some ethical responsibility.

Explanation: As the owner of a casino we do not have any legal liability but as human and a part of society we do have to make sure that gambling in such casinos is not ruining the environment for the individuals living in it.

We have the responsibility towards the kids especially. We must make sure that kids stay away from such casinos as no one knows at an early age of what is right for them and what is not.

We can make rules about the maximum amount of which one can gamble and should monitor strictly of any other unethical conduct that is going on.

5 0

3 years ago

The Sisyphean Company has a bond outstanding with a face value of $ 5 comma 000 $5,000 that reaches maturity in 5 5 years. The b

lilavasa [31]

Answer: $5,219.59905

the price that the bond traded for would be closest to

$5,220 (rounded to whole number)

Explanation:

Using the price of bond formula below:

Price = C × 1 - [(1+r)^-n] /r + F/ (1+r)^n

C = coupon rate = 9.1% of face values ($5,000)

F= Face value(par value) = $5,000

n = number of years to maturity; 5

r = YTM (yield to maturity) = 8% = 0.08

Price = 455 × 1 - [(1+0.08)^-5]/0.08 + 5,000/(1+0.08)^5

Price = 455 × 1 - [(1.08)^-5]/0.08 + 5,000/(1.08)^5

Price= 455 × ( 1 - 0.680583197)/0.08 + 5,000 / 1.46932808

Price= 455 × (0.319416803)/0.08 + 3,402.91598

Price = 1,816.68307 + 3,402.91598

Price= $5,219.59905

≈$5,220 to the nearest whole number.

8 0

3 years ago

Katherine, Alliah, and Paulina form a partnership. Katherine contributes $150,000. Alliah contributes $150,000, and Paulina cont

ryzh [129]

Answer:

$33,750

Explanation:

The computation of the amount of income which is credited to Katherine's capital account is shown below:

= (Katherine contribution ÷ total contribution) × partnership income

= ($150,000 ÷ $400,000) × $90,000

= $33,750

The total contribution equals to

= Katherine contribution + Alliah contribution + Paulina contribution

= $150,000 + $150,000 + $100,000

= $400,000

8 0

4 years ago