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2 years ago

Assuming a firm is selling its output in a purely competitive market, its resource demand curve can be determined by?

1 answer:

5 0

Assuming a firm is selling its output in a purely competitive market, its resource demand curve can be determined by Multiplying marginal product by product price.

A competitive marketplace is a term in economics that refers to a market in which there are a large quantity of customers and sellers and no single customer or seller can have an effect on the marketplace. competitive markets haven't any limitations to entry, plenty of consumers and sellers, and homogeneous products.

Summary. The version to take a look at supply and call for is known as the competitive market version. within the aggressive marketplace, we assume products are homogeneous, and there may be no supplier or purchaser energy.

A free market is a market that has restrained government involvement. marketplace systems can normally be divided into four types. a wonderfully competitive market is one wherein there are a big number of small firms promoting identical products.

Learn more about the competitive market, here:

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During the current year, assets increased from $11,000 to $19,000, and liabilities decreased from $9,000 to $7,500. If no additi

garik1379 [7]

Answer:

$34,500

Explanation:

Calculation to determine total revenues for the year

Using this formula

Total revenues=Increase in Assets+Decreased in liabilities+Dividends+Expenses

Let plug in the formula

Total revenues=($11,000-$19,000)+($9,000-$7,500)+$4,000+$21,000

Total revenues=$8,000+$1,500+$4,000+$21,000

Total revenues=$34,500

Therefore total revenues for the year is $34,500

6 0

3 years ago

What does the balance on payables control and receivables control account represent

shtirl [24]

Explanation:

Payables control accounts helps to maintain each supplier account as a separate subsidiary ledger and reducing the amount of postings in the general ledger. Receivables control account is useful to maintain the credit sales through separate subsidiary ledger.

When there is a control account then the the trial balance of the firm can be easily prepared by seeing the general ledger.

Book keeping errors can also be identified by reconciling the balance on accounts payable and general ledger accounts.

3 0

3 years ago

A firm is considering moving from the United States to Mexico. The firm pays its U.S. workers $30.00 per hour. Currently, U.S. w

Rama09 [41]

Answer: $6.00

Explanation:

From the question, we can see that the productivity in the United States is (45/9) = 5 times higher than that of Mexico.

Therefore, the wages in Mexico should be 5 times lower than the wages paid to the workers in the United States. This will be:

= $30.00 / 5

= $6.00

Therefore, in order for the firm to reduce its wage cost per unit of output by moving to Mexico, the wages in Mexico must be below $6.00 per hour.

4 0

3 years ago

Which term works best as a title for the list?

Marysya12 [62]

Answer: B. Land

Explanation: Just makes sense

7 0

3 years ago

What are the nearest cross streets to carnegie deli?

cricket20 [7]

The Carnegie Deli was an iconic small delicatessen chain based in New York City. Its main branch, opened in 1937 adjacent to Carnegie Hall, was located at 854 7th Avenue (between 54th and 55th Streets) in Midtown Manhattan.

hope this helped :)
alisa202

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4 years ago