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yanalaym [24]
3 years ago
12

Perfect competition is a market in which there are​ _____ firms, each selling​ _____ product; many​ buyers; _____ to the entry o

f new firms into the​ industry; no advantage to established​ firms; and buyers and sellers​ _____ about prices.
Business
1 answer:
Yuki888 [10]3 years ago
7 0

Answer:

Many

Homogenous

There are no barriers

Have perfect knowledge

Explanation:

A perfect competition is characterised by many buyers and sellers of homogenous goods. Because there are many sellers of homogenous goods, firms are price takers.

Because there are no barriers to entry, in the long run, firms earn zero economic profit.

Because buyers and sellers have perfect knowledge of prices, price arbitrage isn't possible.

I hope my answer helps you.

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You have decided to enter the candy business. You are considering producing two types of candies: Slugger candy and Easy Out can
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Answer:

$8000

Explanation:

Assume he uses sugar equally

For slugger candy must contain sugar and 20% nuts

5000*(30000*0.2)

=8000 ounces

For easy out candy  must contain sugar and 10% nuts and 10% chocolates

5000+(30000*0.1)+(30000*0.1)

=8000 ounces

Revenue= 8000*$0.6 +8000*$0.4

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A narrative report is a type of inspection report that's
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Which of the following statements about private club
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Answer:

D: Guests must pay for any alcoholic beverages

they consume.

Explanation:

Guests in any establishment are expected to pay for any alcoholic beverages they consume. A private club is not necessary a profit-making venture, but a social or networking establishment. Membership to a private club is restricted. Members usually pay a membership to join and a regular subscription fee.

The club purchases foods and drinks served in its premises. The food and beverages are sold to members at fair prices. Members are required to pay for what they consume. Many clubs do not charge a service fee as it is catered for in the recurring subscription fees.

4 0
3 years ago
Loop 1604 Inc. has prepared a static budget at the beginning of the month. At the end of the month the following information is
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Answer:

Flexible budget variance for Sales Revenue = $3,960 Favorable

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Provided budget is static budget, firstly for calculating flexible budget variance for Sales Revenue.

For this flexible budget is made of same level of quantity as of actual level.

therefore Flexible budget sales = 990 units @ $70 per unit price will be same as of static budget.

Therefore Variance = Standard Flexible Budgeted Sales - Actual Sales

Standard Flexible Budgeted Sales = 990 \times $70 = $69,300

Actual Sales Revenue = 990 \times $74 = $73,260

Since actual revenue is more than budgeted sales this is favorable.

Flexible Budget Variance for Sales Revenue = $69,300 - $73,260 = $3,960

Since actual revenue is more than budgeted revenue therefore this is a favorable variance.

Flexible budget variance for Sales Revenue = $3,960 Favorable

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Direct labor and overhead costs incurred to change raw materials into finished products are known as
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Answer:

conversion costs

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