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3 years ago

In 1 or 2 sentences, describe why sellers in a perfectly competitive market have no control over price.

1 answer:

8 0

Because in a perfectly competitive market, the sellers have to fluctuate how much their product cost based on how the majority of how products like his or hers sell for in or around his or her area of business.

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Please help me!!! Click here for question!

olga_2 [115]

Answer:

I think maybe B?

Explanation:

I am not sure so I think its b

5 0

2 years ago

Read 2 more answers

The fundamental purpose of an organization's mission statement is to:

Maslowich

Answer:

The correct answer is letter "B": define the organization's purpose in society.

Explanation:

A company's mission reflects what is the purpose of the firms in regards to the impact with its surrounding society. It describes what product is going to be offered, what are the association's potential consumers, and in what sector of the society the firm will focus.

6 0

3 years ago

Which of the following is NOT a fall protection method? A. Guardrails B. Personal fall arrest systems C. Safety belts D. Safety

iris [78.8K]

The answer to this Question is B

7 0

3 years ago

Read 2 more answers

Geno's Body Shop had sales revenues and operating costs in 2020 of $740,000 and $570,000, respectively. In 2021, Geno plans to e

Nataliya [291]

Answer:

$214,000

Explanation:

Total Revenues ($740,000 + $103,000) =$843,000

−Total Operating costs ($570,000 + $59,000)

=$629,000

= Total operating profit = $214,000

Therefore Assuming that there are no changes to the existing body shop business, operating profits would be expected to increase during 2021 by $214,000

7 0

3 years ago

Read 2 more answers

The following data are from the accounting records of Niles Castings for year 2: Units produced and sold 80,000 Total revenues a

Kruka [31]

Answer:

Gross Margin = $ 115,000 Contribution Margin= $ 144,500

Explanation:

Nile Castings

Income Statement

Year 2

Sales Revenue $ 270,000

Direct Materials $63,000

Direct Labor $ 33,000

Variable Manufacturing Overheads $ 18,000

Fixed Manufacturing Costs $ 41,000

Gross Margin $ 115,000

Less Marketing & Administrative Costs

Fixed Marketing Costs $ 38,000

Variable Marketing Costs $ 11,500

Net Profit $ 65,500

Nile Castings

Income Statement Under Absorption Method

Year 2

Sales Revenue $ 270,000

Direct Materials $63,000

Direct Labor $ 33,000

Variable Manufacturing Overheads $ 18,000

Variable Marketing & Administrative Costs $ 11,500

Contribution Margin $ 144,500

Less Fixed Costs

Fixed Manufacturing Costs $ 41,000

Fixed Marketing Coss $ 38,000

Net Profit $ 65,500

3 0

3 years ago