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
Levart [38]
1 year ago
13

Price is taken to be a given by an individual firm selling in a purely competitive market because.

Business
1 answer:
snow_tiger [21]1 year ago
6 0

Price is taken to be a given by an individual firm selling in a purely competitive market because each seller supplies a negligible fraction of total market.

Purely competitive market refers to a marketing situation in which there are a large number of sellers of a product which cannot be differentiated selling a standardized product and therefore, no single firm has a significant influence on the product price. It is characterized, furthermore, by ease of entry for new companies into the market and perfect market information. Hence, the sellers in such a market are considered to be price takers. Examples of purely competitive market are agricultural products such as wheat or corn.

Learn more about Purely competitive market:

brainly.com/question/15176320

#SPJ4

You might be interested in
The demand for this type of good rises when income falls and falls when
Amiraneli [1.4K]

Answer:

o inferior

Explanation:

The inferior goods shown the inverse relationship between the demand and the income. If the demand of the goods is increased so the income would fall and if the demand of the goods fall so the income would rises

So this represent that the good is an inferior good

Hence, the second option is correct

4 0
2 years ago
In an economic decision making, when the inputs and outputs are fixed, the criterion to use is minimize the input.
Tresset [83]

Answer:

Correct answer is False for economic decision making, when the inputs and outputs are fixed, the criterion to use is minimize the input

Since, both input and output are fixed, the input can’t be decreased. Each of them has to be fixed in directive to vary the association among them. (It can be fixed contribution, or fixed production or neither one of them is fixed)

3 0
3 years ago
Read 2 more answers
Spruce Company uses a job costing system. Spruce Company's schedule of cost of goods manufactured showed the following amounts f
julsineya [31]

Answer:

The amount of allocated manufacturing overhead costs for August is $47,150

Explanation:

For computing the allocated manufacturing overhead costs, first we have to compute the direct labor hours which is shown below:

=  Direct labor cost ÷ per hour rate

= $73,800 ÷ $36

= 2,050 hours

Now the allocated manufacturing overhead costs equals  to

= Direct labor hours × Manufacturing overhead rate

= 2,050 hours × $23

= $47,150

5 0
3 years ago
What management function is to ensure that all factors of production are available to departments
artcher [175]
Production planning ,production control , quality and cost control and inventory control
5 0
2 years ago
Question 6 (multiple choice)
Tasya [4]
It may be A but if it isn't I'm sorry
3 0
3 years ago
Read 2 more answers
Other questions:
  • Luxury Cruiseline offers nightly dinner cruises departing from several cities on the eastern coast of the United States includin
    15·1 answer
  • Shangrilah Sandals is a manufacturing firm in a developing country, where it routinely uses grease payments to local officials t
    15·1 answer
  • Schrute Farm Sales buys portable generators for and sells them for He pays a sales commission of​ 5% of sales revenue to his sal
    11·1 answer
  • Suppose that an investor with a 5-year investment horizon is considering purchasing a 7-year 9% coupon bond selling at par. The
    6·1 answer
  • _______________ are typically thought of as "the voice of the consumer." Their job is putting consumers at the center of the com
    9·1 answer
  • Read the U.S. Constitution. Did our founding fathers do a good job in shaping the laws of the land? Explain.
    11·1 answer
  • A zero coupon bond pays no interest-only it face value of $1,000 at maturity. One such bond has a maturity of 18 years and an in
    12·1 answer
  • Excellent Company has provided the following operating information for one of its divisions: Sales $100,000 Variable expenses $5
    10·1 answer
  • PLS HELP!!! THANK U<br> Sample Work: Writing an Informative Essay: Prewriting BATTLING ADVERSITY
    8·2 answers
  • International foods corporation insures its real and personal property, as well as the lives of its key employees, to protect it
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!