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
- Agriculture: In this market, products are very similar. Carrots, potatoes, and grain are all generic, with many farmers producing them.
- Foreign Exchange Markets: In this market, traders exchange currencies.
- Online shopping: We may not see the internet as a distinct market.
Thus, we can say that the correct option is B.
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Answer: Attitude inoculation
Explanation:
Attitude inoculation is referred to as the technique or method which is used in order to make an individual immune to the attempts taken in order to change the attitude thereby firstly exposing themselves to the small arguments taken against their position. It is referred to as so since it tends to works similarly like a medical inoculation, that exposes an individual's body to the weaker state of the virus.
Answer:
The level of saving = $450 billion - $400 billion= $50 billion
Marginal propensity to save = 1- marginal propensity to consume (MPC)=0.5
Expected consumption
MPC= change in Consumption/ change in income 200 billion * 0.5 = $100billion
Therefore consumption = 100 billion + 400 billion = $500 billion
Saving = $650 billion - $500 billion= $ 150 billion
Explanation:
Answer:
B. debit Cost of Goods Sold $ 4,500 and credit Finished Goods Inventory $ 4,500
Explanation:
The cost of goods sold will be 4,500 cost of the job 750
We are going to debit the cost of good sold for the amount it cost to make job 750
and credit the finished goods inventory as the amount of goods available for sale decreases.
When we sale we deliver an asset of ours (finished goods) thus, we have to make it decrease.
Answer:
Marketing is a set of activities related to creating, communicating, delivering, and exchanging offerings that have value for others.
