Answer:
The correct answer is letter "D": buyers and sellers having all relevant information.
Explanation:
Perfect Competition is a theoretical market structure in which competition is at the highest possible level. These five (5) elements contain a perfectly competitive market: <em>all firms sell the same product, all firms are price-takers, all firms have relatively small market shares, buyers have complete product and price information, </em>and <em>the industry is characterized by low or no barriers to entry and exit.</em>
Answer:
Total cost= $877,500
Explanation:
<u> First, we need to calculate the unitary variable cost:</u>
Unitary variable cost= 135,000 / 30,000= $4.5
Unitary variable cost= 180,000 / 40,000= $4.5
Unitary variable cost= 225,000 / 50,000= $4.5
<u>Now, the total cost for 35,000 hours:</u>
Total cost= Unitary variable cost*total number of hours + fixed costs
Total cost= 4.5*35,000 + 720,000
Total cost= $877,500
Answer:
b. the implied warranty of merchantability
Explanation:
Implied warranty of merchantability refers to an implied assurance, in every sales transaction that the seller's goods are safe and fit for intended purpose of usage.
It represents an unspoken guarantee on the part of the seller that his goods conform to the acceptable standards and properly packaged and labeled and abide by the promises conveyed on their label.
The motive behind such a warranty being, the seller must properly inspect and test the quality of his goods before releasing them or making them available for sale in the market.
In the given case, the seller sold skis to the customer which cracked into two upon usage. The seller isn't aware of the cause of the consequence. Thus, the seller breached the principle of implied warranty of merchantabilty as per which, it should've first checked and inspected the skis before making them available for sale.
<span> The fact that Pat has a savings account and a car loan from a not-for-profit financial institution owned by its member , means that </span>Pat is probably a member of the financial institution: Credit Union. This type of financial institution is created and operated by its members (the members are <span>depositors, borrowers, and shareholders.</span>
Answer:
The correct option is A, selecting a specific city in which to locate
Explanation:
This question can be solved if we try to eliminate obviously wrong options ,for instance options B and D are entirely out of context with the issue raised because even a layman knows that location of an industry means siting a business in a particular area.
However, we are left with options A and C,but it is important to note that community location is more specific and points to the exact location where the business is to be sited whereas general region is generic in nature.
Judging from the above, the specific city where the business is to be built is best option.
