Strictly speaking pure competition is relatively rare. then why do we study it

1 answer:

3 0

The study of pure competition in economics is because it describes a perfect situation of low-cost production and allocative efficiency which serves as a criteria of comparison.

<h3>What is pure competition in economics?</h3>

Pure competition in economics is the study of the marketing situation in where a large number of sellers of a similar product such that no significant influence on price is produced by any one firm.

The study of pure competition serve as as basis of comparison as it produces ideal results.

In conclusion, pure competition serves as a criteria for comparison.

Learn more about pure competition in economics at: brainly.com/question/1964924

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Hurricane Flash flood tsunami and tornado
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A Severe weather event is 1-2 inches of hail (25-51 mm) an F1 tornado or winds up from 58-75 miles per hour (or 93 to 121 km/hour) but there is something called a Significant severe weather which is more than what is listed. So we already know that a hurricane, tornado, flash flood and tsunami are ALL severe weather events. But what about Earthquake and Volcano. While yes, they ARE considered severe events, they are NOT titled under these criteria.

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A company purchased manufacturing equipment 5 years ago for $50,000. book value is currently $5,000 and the remaining useful lif

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Since purchasing new gear will reduce cash flow by $5,000, the corporation should keep its old equipment, and the calculation can be defined as follows:

<h3 /><h3>Calculating the Total decrease in net income:</h3>

The following are the costs if the company keeps the old equipment:

$\to$ $30,000 x 3 years = $90,000 So, the total cost is $90,000.