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yanalaym [24]
2 years ago
12

In a perfectly competitive market, a. every seller tries to undercut the prices charged by its rivals. b. every seller takes the

price of its product as set by market conditions. c. one seller has successfully outcompeted its rivals so no other sellers remain. d. every seller tries to distinguish itself by offering a better product than its rivals
Business
1 answer:
Shkiper50 [21]2 years ago
8 0

In a perfectly competitive market, every seller takes the price of its product as set by market conditions.

<h3>What is a Perfect Competitive Market?</h3>

Perfect competition is an ideal type of market structure where all producers and consumers have full and symmetric information and no transaction costs. There are a large number of producers and consumers competing with one another in this kind of environment.

Perfect competition is a market structure where many firms offer a homogeneous product. Because there is freedom of entry and exit and perfect information, firms will make normal profits and prices will be kept low by competitive pressures.

<h3>What are some examples of Perfectly Competitive Markets?</h3>

3 Perfect Competition Examples

  1. Agriculture: In this market, products are very similar. Carrots, potatoes, and grain are all generic, with many farmers producing them.
  2. Foreign Exchange Markets: In this market, traders exchange currencies.
  3. Online shopping: We may not see the internet as a distinct market.

Thus, we can say that the correct option is B.

Learn more about Perfectly Competitive Markets on:

brainly.com/question/8753703

#SPJ4

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One example is focus group. <span>Producers are able to test new ideas and products on small amounts of consumers, and with their feedback, they can produce products that consumers will buy.

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4 0
4 years ago
Units Produced 20,000
Alexeev081 [22]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Units Produced 20,000

Units Sold 17,000

Unit Sales Price $ 240

Full Manufacturing Cost Per Unit $97

<u>Under the absorption costing method, the fixed manufacturing overhead is part of the product cost.</u>

Income statement:

Sales= (17,000*240)= 4,080,000

Cost of goods sold= (17,000*97)= (1,649,000)

Gross profit= 2,431,000

Variable Selling Expenses=  (71,000)

Fixed General and Administrative Costs= (88,000)

Net operating income= 2,272,000

3 0
4 years ago
All of the following decisions fall within the scope of operations management EXCEPT​ for: A. creating the company income statem
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Answer:

A. creating the company income statement.

Explanation:

The creation of the companie's income statement is not within the scope of an operation manager's role.

It is a function of the accounting department, and shows the financial position at a particular point in time. Income statements are prepared in relation to profit and loss that the company is making. It shows a snap-shot of financial position so that management can make informed business decisions.

3 0
3 years ago
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Bond price volatility varies directly with the term to maturity and directly with the coupon. Group of answer choices True False
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Answer: False

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However, Bond Price Volatility has an Indirect relationship with Coupon rates. The higher the Coupon rate, the lower the volatility because interest rates affect bonds that are paying lower coupons more than they do high ones. Having a higher coupon bond means that price does not change as much due to interest rates.

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the following operation benefits from appreciation of the firm's local currency: a. borrowing in a foreign currency and converti
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Option a. borrowing in a foreign currency and converting the funds to the local currency prior to the appreciation benefits from appreciation of the firm's local currency.

A foreign currency is the currency utilized by a foreign u . s . a . as its diagnosed form of monetary alternate. This particular forex is the most effective form of alternate that the relevant authorities lets in for use for getting and selling inside its borders

To favor the trade of budget among unique countries; we can locate nations with excess liquidity and others that need liquidity. To finance worldwide trade, whose transactions constitute a enormous part of the foreign money market.

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5 0
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