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LenKa [72]
1 year ago
13

In order to have competition in a market economy, there must be at least _____ or more sellers acting independently in a particu

lar market.
Business
1 answer:
NISA [10]1 year ago
8 0

In order to have competition in a market economy, there must be at least 2 or more sellers acting independently in a particular market.

<h3>What is competition in a market economy?</h3>

competition in a market economy serves as one that  allows multiple individuals  as well as  businesses to use resources efficiently  as well as producing  the cheapest products  without compromising  quality.

It should be noted that In order to have competition in a market economy, there must be at least 2 or more sellers acting independently in a particular market.

Learn more about competition at:

brainly.com/question/9698922

#SPJ1

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Why long hair on men fell out after the medieval times?
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That depends from culture to culture. Some associated it with wildlings or with "uncivilized" Arabian cultures from Northern Africa, while others found it impractical as they were in the military or were in a religious order. Buddhist monks for example shave their heads completely due to their beliefs, while others cut of their hair for army reasons.
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3 years ago
Income rises from $3,500 to $4,000 a month and the quantity demanded of good X falls from 7 to 5 units a month. Income elasticit
finlep [7]

Answer:

E) -2.50 ; inferior

Explanation:

Before you earned $3,500 per month, you consumed 7 units per month. That means that you consumed 1 unit every $500 earned.

When your income increased to $4,000, you only consumed 5 units per month. That means that your consumption decreased to 1 unit for every $800.

The income elasticity of demand using the midpoint method is calculated by using the following formula:

income elasticity = {change in quantity demanded / [(old quantity + new quantity) / 2]} /  {change in income / [(old income + new income) / 2]}  

= {-2 / [(7 + 5) / 2]} /  {500 / [(3,500 + 4,000) / 2]} = (-2 / 6) / (500 / 3,750) = -0.333 / 0.133 = -2.5

Since the income elasticity of demand is negative, the good X is an inferior good.

7 0
3 years ago
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LenKa [72]
Is that the question or what i need info.XD
4 0
3 years ago
Winston Company’s high and low level of activity last year was 60,000 units produced in April and 20,000 units produced in Decem
horsena [70]

Answer:

Total cost= $36,000

Explanation:

Giving the following information:

Winston Company’s high and low level of activity last year was 60,000 units produced in April and 20,000 units produced in December. Machine maintenance costs were $52,000 in April and $20,000 in December.

<u>To calculate the total cost, first, we need to calculate the unitary variable cost. With the unitary variable cost, we can calculate the fixed costs. Then, the total cost at 40,000 units.</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (52,000 - 20,000) / (60,000 - 20,000)= $0.8 per unit

Now, we calculate the fixed costs:

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 52,000 - (0.8*60,000)= $4,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 20,000 - (0.8*20,000)= $4,000

Total cost= 4,000 + 0.8*units

Total cost= 4,000 + 0.8*40,000= $36,000

5 0
3 years ago
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