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
At a farmer’s market, a basket of strawberries costs $20 and a basket of peaches costs $18. On Saturday, 23 baskets were sold
nlexa [21]

Based on the calculation done, there are 15 baskets of peaches.

x + y = 23 ..... i

20x + 18y = 430 ...... ii

From equation i, x = 23 - y ..... iii

Put equation iii into ii

20x + 18y = 430

20(23 - y) + 18y = 430

460 - 20y + 18y = 430

2y = 30

y = 30/2 = 15

x + y = 23.

x + 15 = 23

x = 23 - 15 = 8

Learn more about equations on:

brainly.com/question/13763238

4 0
2 years ago
What are the basic safety guidelines for using hand tools
Goryan [66]
ALWAYS WEAR EYE PROTECTION.
Wear the RIGHT SAFETY EQUIPMENT for the job.
Use tools that are the RIGHT SIZE & RIGHT TYPE for your job.
Follow the correct procedure for using EVERY tool.
Keep your cutting tools SHARP and in good condition.
DON'T work with OILY or GREASY hands.
7 0
3 years ago
The management team has asked you to reschedule the project so it finishes two weeks earlier without spending more money. They h
Tanya [424]

Answer:

Crash the schedule.

Explanation:

Fast-track can complete the task earlier but takes more money. Assign more experienced people will cost the management more money. Cut scope reduces the project requirement and finishes the task earlier. Therefore, options A B and D can not be the answer.

Crash the schedule (option C) is the answer because it allocates enough resources to complete the task earlier without spending more money.

5 0
3 years ago
Explain why a $ 50,000 increase in inventory during the year must be included in developing cash flows from operating activities
Simora [160]

Explain why a $50,000 increase in inventory during the year must be included in computing cash flows from operating activities under both the direct and indirect methods. The $50,000 increase in inventory must be used in the statement of cash flow calculations because it increases the outflow of cash (all else equal).

An increase in the company's inventory indicates that the company has purchased more goods than it has sold. It means an additional cash outflow as cash must be used to purchase additional consumables. Cash outflows have a negative or unfavorable impact on a company's cash position.

Therefore, as inventories increase, the company will have to spend money to buy them (cash outflow). On the other hand, the decrease in inventory will be cash in for the amount sold. We arrive at the following rule: Inventory Increase => Cash Outflow (Negative)

An indirect way to create a cash flow statement is the change in the amount of cash due to operating activities in the account on the balance sheet. and adjust the net profit for the year.

Learn more about inventory here;

brainly.com/question/24868116

#SPJ4

5 0
2 years ago
Which of the following statements about the relationship between the financial market and the
BigorU [14]

Answer:

C

Explanation:

that makes sense more shdjdjjd

7 0
3 years ago
Other questions:
  • Entries for notes payable Bull City Industries is considering issuing a $100,000, 7% note to a creditor on account. Assume a 360
    11·1 answer
  • Deployment Specialists pays a current (annual) dividend of $1 and is expected to grow at 20% for two years and then at 3% therea
    14·1 answer
  • Jennifer's family always celebrates Christmas with decorated tree and stockings hung on the fireplace. These holiday decorations
    8·1 answer
  • Daniel, the supervisor of a team of financial analysts, aims to become a manager. He is confident about his ideas in the workpla
    7·1 answer
  • Tom Brown decided to purchase a new bike on installment loan the bike was $300 he agreed to pay $30 a month for 12 months what i
    15·1 answer
  • Midori Company had ending inventory at end-of-year prices of $138,500 at December 31, 2013; $165,771 at December 31, 2014; and $
    14·1 answer
  • Which statement is false about the circular-flow diagram? A. Money flows in the direction opposite to goods and services and fac
    13·1 answer
  • A competitive firm has been selling its output for $20 per unit and has been maximizing its profit, which is positive. Then, the
    12·1 answer
  • Create a simple sketch showing what Hawkins and Crusoe could produce if the two men lived independently on different sides of th
    7·1 answer
  • Marci rewarded her team with a bonus when she found that their performance exceeded the standards she had set. Which step of the
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!