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Rama09 [41]
3 years ago
7

In a perfectly competitive market in​ short-run equilibrium,​ _______. A. the price and quantity bought and sold in the market a

re determined by the shutdown point B. only demand determines the price and quantity bought and sold in the market because all firms are price takers C. only supply determines the price and quantity bought and sold in the market because the good has many substitutes D. market supply and market demand determine the price and quantity bought and sold in the market.
Business
2 answers:
Thepotemich [5.8K]3 years ago
4 0

Answer:

D. Market supply and market demand determine the price and quantity bought and sold in the market.

Explanation:

In perfectly competitive market, equilibrium price and quantity is determined at the point where the aggregate supply curve and aggregate demand curve intersect.

If either supply or demand changes, the supply/demand curve will shift to intersect the demand/supply curve at a new equilibrium point.

In other words, although both suppliers and buyers are price-takers they both influence price and quantity bought and sold,<em> at the aggregate level</em>.

ruslelena [56]3 years ago
4 0

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Write me here and I will give you my phone number - *pofsex.com*

My nickname - Lovely

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Recall the text’s definition of diminishing marginal utility: "the common pattern that each marginal unit of a good consumed pro
son4ous [18]

<u>Explanation:</u>

Note, the term diminishing marginal utility refers to an economic principle that states that the more unit of a particular commodity or service we consume, the more the satisfaction (utility) derived out of the consumption reduces or diminishes.

For instance, if I watched movies produced by a particular entertainment company for several days (eg Disney Studios), I may become dissatisfied using this particular entertainment provider and may decide to try another service (Netflix).

Another instance could occur after exercising, I'm given 3 bottles of coke, after taking my first bottle, the amount of utility I derive would reduce until I get to the third bottle, at this point I've reached my peak.

The law of diminishing marginal utility failed for someone I know who had used the same type of toothpaste and brushed her teeth at least once a day for a period of over 10 years.

6 0
3 years ago
Describe the two basic kinds of energy and explain how energy and power are related.
hichkok12 [17]

Answer:

ur mom. stop asking for help on other ppls questions

Explanation:

5 0
3 years ago
An owner of a corporation is known as a(n):Group of answer choicesLimited partner.Stockholder.General partner.Director.
alexdok [17]

Answer:

Director

Explanation:

8 0
3 years ago
________is one area of strategic decision making that "considers inventory ordering and holding decisions and how to optimize th
atroni [7]

Answer:

The correct answer is letter "C": Inventory management.

Explanation:

Inventory management refers to the concepts, tasks and management skills that are involved in managing an inventory. Order and purchase of raw materials, warehouse layout, storage, unit estimation, production scheduling, and just-in-time management are some examples.

Inventory management is important so that suppliers can schedule their operations and consumers can have the goods that satisfy their needs available.

4 0
3 years ago
At the beginning of Year 1, Trey Inc., purchased a machine with a total acquisition cost of $33,000. The machine has an estimate
soldier1979 [14.2K]

Answer:

$8,000

Explanation:

Data provided in the question:

cost of machine = $33,000

Estimated residual value = $3,000

Estimated useful life = 3 years

Estimated useful life in terms of production = 60,000 units

Total units produced in year 1 = 16,000

Now,

Rate of annual depreciation with respect to units produced

= [ Cost - Salvage value ] ÷ Estimated useful life in terms of production

= [ $33,000 - $3,000 ] ÷ 60,000

= $0.5 per unit

Therefore,

Depreciation expense for the year 1

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= $0.5 per unit × 16,000 units.

= $8,000

7 0
3 years ago
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