Answer:
A. price taker, because it must accept the market equilibrium price.
Explanation:
A perfectly competitive firm is an ideal firm in which different firms sell products that are homogeneous or similar in nature. They are price takers because the prices of goods are determined by changes in demand and supply, therefore they must accept the market equilibrium price. They do not attempt to fix the prices of commodities. The opposite of this type of firm is a monopoly where a firm has complete control of a market, having the ability to change prices as it wills.
An example can be found among businesses that sell similar kinds of products. It could be in the form of grocery stores that sell similar wares. When any of the sellers leave the market, it does not affect the other sellers as their prices are at equilibrium. Therefore, anyone can enter or exit this type of market.
Answer:
Higher prices
Explanation:
Fixed prices are associated with higher prices for consumers
Answer:
The earnings per common share amounted to $2.53
Explanation:
Solution
Given that:
The Net Income for 2021= $442000
Thus,
The Dividend to be accrued on Preference shares for 2021 = 1200 *7% * 100
= $8400
The Earnings available to common share-holders for 2021 =$442000-$8400
= $433600
The number of common shares outstanding is = 171000 shares
So,
The Basic Earnings per share = 433600/171000
= $2.53
Answer:
$147,400
Explanation:
The computation of the cost of goods manufactured is shown below:
= Direct materials used + Direct labor cost + Manufacturing overhead cost + beginning work-in-process inventory - ending work-in-process inventory
= $56,400 + $30,100 + $52,400 + $29,000 - $20,500
= $147,400
We considered the applied manufacturing overhead cost instead of actual manufacturing cost
Answer:
ATTACHED ANSWER
Explanation:
The budget constrain will show all the possible consumption considering the price of both product X and product Y
We have to calculate at X = 0 X = 40 and Y = 0
if X = 0 this means we don't buy any product X so is all used to purchase Y 100/5 = 20 units
at 40 units of X we got 40 x 2 = 80 dollars leaving 20 for Y therefore 20/5 = 4
At X = 40 and Y = 4 we find the other budget constrain
Last if Y = 0
if the mass consumption of X is penalized we consume 20/3 = 6.67 more units leading to 46.67
while if it is encourage we consume 20/1 = 20 more units
leading to 60 units in total