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
scoundrel [369]
3 years ago
10

Pure competition is important to economists because it is __________________ . Pure competition is important to economists becau

se it is __________________ . the lowest cost to the buyer the benchmark of efficiency to compare all other models against both a. and b. none of the above
Business
1 answer:
Ksju [112]3 years ago
6 0

Answer:

a and b

Explanation:

A perfect or pure competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

Due to maximum competition in a pure competition, it is the lowest cost to the buyer.

Pure competition is efficient because, goods are priced at equilibrum

You might be interested in
Jim Walton perform services on credit for $2450 a debit for this transaction should be recorded to?
ki77a [65]
A) accounts receivable 

Hope this helped!
5 0
3 years ago
Tidwell Industries has the following overhead costs and cost drivers. Direct labor hours are estimated at 100000 for the year. A
Darya [45]

Answer:

Overhead rate for ordering and receiving = $300 per order.

Explanation:

Given Activity costs and activity drivers

Activity                                          Overhead Cost            Driver Activity

Ordering & Receiving Order           $150,000                     500 orders

Machine Setup                                  $324,000                    450 setups

Machining                                          $1,587,500                   125,000 MH

Assembly Parts                                 $1,260,000                   1,000,000 parts

Inspection                                           $330,000                        500 inspections

Under activity based costing the rates are based on the nature of activity and the rates are based on number of those activities per driver. As for ordering and receiving there are total of 500 orders and total cost = $150,000 that is cost per order will be computed.

Overhead rate for ordering and receiving = $150,000/500 orders = $300 per order.

6 0
3 years ago
It is estimated that the average cost of an outbound telemarketing sales calls on a business customer is about __________, versu
4vir4ik [10]

Answer:

Around $35

Explanation:

Telemarketing sales calls offers lots of advantages like boosting sales in most organizations. You will have to sign a contract where you agree to pay for a minimum number of hours.

Another advantage is that If you need to do some research in advance of product development or product launches, there is some value in having those research calls made by the same telemarketing team that will ultimately be selling the product.

4 0
3 years ago
The aggregate demand curve slopes downward indicating that
Likurg_2 [28]

Answer: Diminishing marginal utility.

Explanation: The demand curve tends to slopes downward because of diminishing marginal utility and it also slopes downwards because of the substitution and income effects.

4 0
3 years ago
Nature’s Crunch is currently the only certified organic produce grower in a region that produces lots of non-organic produce alt
aliya0001 [1]

Answer:

The correct answers are letters: "A", "B", "C", and "D".    

Explanation:

As a monopoly, Nature's Crunch will be benefited in profit terms if any chemical involved non-organic vegetables growing process is affected somehow. Then, <em>a tomato blight affecting chemically treated plants, an increase in the cost of chemical pesticides, and a new report about the environmental dangers of chemically treated plants</em> would automatically generate more sales for Nature's Crunch. Besides, it does not matter under what scenario, <em>income tax cuts</em> <em>for all consumers</em> will generate more revenue both for organic and non-organic industries.

7 0
3 years ago
Other questions:
  • In thinking about the "color of money," which color would correspond to a new video game system charged on a credit card when yo
    5·2 answers
  • Which term describes judging an individual based on the group to which they belong?
    9·2 answers
  • You are driving to a project status report meeting with your client. You encoun- tered a significant technical problem on the pr
    10·1 answer
  • What does family heirloom mean?
    12·2 answers
  • Ann, Bob, Carl, and Dan are randomly lined up. The first two players in line then play a game; the winner of that game plays a g
    7·1 answer
  • Grady exchanges qualified property, basis of $20,667 and fair market value of $24,800, for 60% of the stock of Eadie Corporation
    5·1 answer
  • Sunland Company manufactures a line of lightweight running shoes. CEO Mark Sunland estimated that the company would incur $3,379
    6·1 answer
  • Hannah was fired by Friendly Catering Company (FCC) without a valid reason. The company's employee handbook stated that employee
    5·1 answer
  • ________ are persons who act as catalysts and assume the responsibility for managing refinement activities.A) Early adoptersB) F
    11·1 answer
  • Carlos needs to combine words in a First Name and a Last Name column. Which of the following functions should he use
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!