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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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Abraham has just purchased his first car. His bank, First State Bank, loaned him the money to buy the car and has required him t
fenix001 [56]

Answer:

Collision

uninsured motorist

comprehensive

liability coverage

Explanation:

From the question, we are informed about Abraham who has just purchased his first car. His bank, First State Bank, loaned him the money to buy the car and has required him to purchase insurance to protect the car as the collateral for the loan. In this case the basic types of coverage Abraham should buy to satisfy the bank requirement and to best protect himself from the risks of operating an automobile are;

✓ uninsured motorist

✓comprehensive

✓liability coverage

Insurance is very essential in protecting an individual or firm from any form of financial loss, it can be regarded as a kind of risk management and it is way to avoid uncertain loss. Then if Adam could buy the coverage he will be protected from loss in future.

3 0
3 years ago
According to circus founder P. T. Barnum, what happens without publicity?
almond37 [142]

Answer:

<em>"A terrible thing happens without publicity...</em><em>nothing</em><em>!"</em>

3 0
3 years ago
Read 2 more answers
On January 1, 20X5, Blaugh Co. signed a long-term lease for an office building. The terms of the lease required Blaugh to pay $1
umka2103 [35]

Answer

The answer and procedures of the exercise are attached in the following image.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

4 0
3 years ago
Information for Nighttime Company's direct labor cost for February is as follows: Actual direct labor hours 70,000 Total direct
podryga [215]

Answer:

71,100

Explanation:

The calculation of standard direct labor hours is shown below:-

Labor rate variance = (Actual rate - Standard rate) × Actual hours worked

$35,000 = ($497,000 ÷ 70,000 - Standard rate) × 70,000

(7.1 - Standard rate) = $0.5

= $6.6 per hour

= Labor variance efficiency = (70,000 - Standard hour) × $6.6 per hour

= -$7,260 = (70,000 - Standard hour) × $6.6 per hour

Standard hours = $70,000 + 1,100

= 71,100

8 0
3 years ago
Determine how many of each plant stand Bobby needs to sell to breakeven. Begin by computing the​ weighted-average contribution m
Pavel [41]

Answer:

For twig stands= 24 units.

For oak stand = 6 units.

Explanation:

From the question above we are given that the Sale price for Twig and Oak plant stand are 15.00 and 42.00. We are also given that the Variable cost for Twig and Oak plant stand are 2.00 and 19.00 per unit. Thus, the value for the Contribution Margin per unit can be calculated by just subtracting Variable cost for Twig and Oak plant stand from Sale price for Twig and Oak plant stand, that is;

Contribution Margin per unit = (Sale price for Twig and Oak plant) - (Variable cost for Twig and Oak plant stand).

Contribution Margin per unit for Twig = 15.00 - 2.00 = 13.00 and the Contribution Margin per unit for oak = 42.00 - 19.00 = 23.00.

From the question, we are given that the Sales mix in units is 4(twig) and 1(oak) = 4 + 1 = 5.

Thus, the contribution margin for twig = sales mix for twig × Contribution Margin per unit for Twig = 4 × 13 = 52.

Also, the contribution margin for oak = sales mix for oak × Contribution Margin per unit for oak = 1 × 23 = 23.

Total = 52 + 23 = 75.

Hence, the Weighted Average Contribution per unit = 75 / 5 = 15.

Total Break even Sales = 450/15 = 30 units.

Thus, for twig stand; 30 × 4/5 = 24 units.

For oak = 30 × 1/5 = 6 units.

6 0
3 years ago
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