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IgorC [24]
3 years ago
15

Are perfectly competitive markets allocatively allocatively efficient in the long​ run?

Business
1 answer:
antiseptic1488 [7]3 years ago
7 0
Yes, because firms produce where the marginal benefit to consumers equals the marginal cost of production.
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In a​ make-to-order system, when a customer places a request for a product or service with a​ producer,
Mashutka [201]
<span>A work order is created as soon as the customer places the request for a product or service. Since the manufacturing or the creation of the item begins only after order is made, all the resources and the raw materials should be in place well before time.</span>
3 0
3 years ago
His income increased dramatically;from$5000 a year to $60,000 a year. Jim decides that instead of using the bus, he would buy a
svet-max [94.6K]

Answer:

This implies that bus is an inferior good and car is a normal good.

Explanation:

Initially, Jim's income was $5000 a year.

As his income increases to $60,000 a year, he decides to buy a car instead of using the bus.  

In other words, with the increase in income, the demand for traveling by bus is declining.  

This implies that it is an inferior good.  

The demand for the car is increasing with an increase in income.  

So, the car is a normal good.  

An inferior good can be defined as a product that shows negative elasticity. This means with an increase in income its demand declines an vice versa.

A normal good can be defined as a product that shows positive income elasticity. That is, its demand increases with rise in income and vice versa.

4 0
3 years ago
Salim files a case agaisnt nina for nonpayments of dues.before the trial. nina is examined under oath in the presense of salim's
aleksley [76]

Answer:

A) deposition

Explanation:

A witness or a party's deposition takes place before the actual trial starts, during discovery (or the investigation stage). During the deposition, the party or witness must answer the questions of the other party's attorney. Those questions are answered under oath, which means that lying is considered perjury and the party or the witness can be prosecuted for it.

3 0
3 years ago
Heavy​ Products, Inc. developed standard costs for direct material and direct labor. In​ 2017, AII estimated the following stand
Nitella [24]

Answer:

Direct labor efficiency variance= 0

Explanation:

Giving the following information:

Direct labor 0.2 hours $ 35 per hour. During​ June, Heavy Products produced and sold 16,000 containers using 3,200 direct manufacturing labor-hours at an average wage of $ 51.00 per hour.

Direct labor efficiency variance= (Standard Quantity - Aactual Q)*standard rate

Direct labor efficiency variance= (0.2*16,000 - 3,200)*35= 0

5 0
3 years ago
g 3) You are interested in purchasing an apartment complex for $2,000,000 that has Net Operating Income (NOI) of $120,000 and is
Paraphin [41]

Answer:

the cap rate is 6%

Explanation:

The computation of the cap rate is as follows:

= Net operating Income ÷ Current market value of property

= $120,000 ÷  $2,000,000

= .06

=  6%

Hence, the cap rate is 6%

We simply divided the net operating income from the Current market value of property so that the cap rate could come

4 0
2 years ago
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