1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
muminat
1 year ago
7

In a competitive market equilibrium, the allocation of the social surplus is such that ____________.

Business
1 answer:
Leto [7]1 year ago
6 0

In competitive market equilibrium, the allocation of the social surplus is such that no individual can be made better off without making someone else worse off.

The phrase "competition equilibrium" refers to an equilibrium condition when the firm's goal of maximising profits and the customers' goal of maximising utility both aspire to reach an equilibrium price as a result of freely determined prices.

According to the theory of competitive equilibrium, the firm's supply of the product is equal to the market's demand for that same amount of the product. It is a circumstance in which neither the buyer nor the seller can strengthen their bargaining position with regard to the goods being sold.

Learn more about competitive market here brainly.com/question/13961518

#SPJ4

You might be interested in
Intellectual property assets are
Ierofanga [76]
The answer would be C.
6 0
2 years ago
Read 2 more answers
Consumer protections related to the Internet and telecommunications and direct-mail fraud are covered under the Financial Practi
Elden [556K]
False, it is not protected
4 0
3 years ago
On July 1, Smith Company borrowed $430,000 cash by signing a 10-year, 8% installment note requiring equal payments each June 30
ehidna [41]
It should be e $64,083
7 0
3 years ago
Roth Service Co. experienced the following transactions for 2018, its first year of operations: Provided $80,000 of services on
Stels [109]

Answer and Explanation:

a. The preparation of income statement is shown below:-

                               Income Statement

Service revenue                               $80,000

operating expenses  

Salary expenses           $28,000

Uncollectible accounts

expense                        $3,273

Total operating expense                   $31,273

Net income                                         $48,727

Working Note :-

Days       Amount     Percentage     Allowance balance

Current   $16,800       0.01                  $168

0-30         $5,100        0.05                 $255

31-60       $4,000        0.10                  $400

61-90       $2,000        0.30                 $600

Over 90

days         $3,700       0.50                  $1,850

Total        $31,600                                $3,273

b. The computation of net realizable value of the accounts receivable is shown below:-

Net realizable value = Accounts receivable - Allowance for doubtful accounts

= ($80,000 - $48,400) - $3,273

= $31,600 - $3,273

= $28,327

4 0
3 years ago
Taurus's gross pay for the week is $980. his yearly pay is under the limit for oasdi. assume that the rate for state and federal
olga_2 [115]
<span>Taurus's employer must record $60.76 for unemployment compensation because his yearly pay has not yet exceeded the $7,000 cap. Taurus's oasdi tax would be $60.76 and the medicare tax total is $14.21. The total payroll tax expenses for Taurus's employer to pay is $135.73.</span>
4 0
3 years ago
Other questions:
  • The actual behavior of the person who occupies a status is termed Select one: a. role performance. b. master status. c. role set
    12·1 answer
  • Over 1.5 million different species have been discovered on Earth, and scientists discover about 15,000 new species each year. Th
    8·1 answer
  • Cost of merchandise sold reported on the income statement was $155,000. The accounts payable balance increased $8,000, and the i
    11·1 answer
  • When a bond issued at face value is retired what is the journal entry
    13·1 answer
  • Complete the bill of materials by calculating the extended cost of each component and the total materials cost for each brake sy
    7·1 answer
  • What is an advantage of a Limited Liability Company?
    11·1 answer
  • ​Bryant, Inc. provides the following​ data:2017 2016Cash $47,000 $25,000Accounts Receivable, Net 100,000 62,000Merchandise Inven
    13·1 answer
  • You have been asked to review the December 31, 2021, balance sheet for Champion Cleaning. After completing your review, you list
    15·1 answer
  • This year Amy purchased $2,000 of equipment for use in her business.However, the machine was damaged in a traffic accident while
    6·1 answer
  • Valuing cash flows with infinite growth in the dividend discount models (DDMs): a. cannot be calculated because growth to infini
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!