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statuscvo [17]
3 years ago
12

Markets and competition Identical products, as well as a large number of buyers and sellers, are characteristics of aperfectly c

ompetitive market. In such markets, sellers of goods cannot influence the prevailing market price, giving them the role of price takers in the market.
A. True
B. False
Business
1 answer:
Nadya [2.5K]3 years ago
7 0

Answer:

The answer is true.

Explanation:

The sellers in the perfectly competitive market become price takers as they have to sell under the price decided in the market through supply and demand.

This is mainly because there is no way to differentiate the product to change the price. Since all goods are identical, one good is a perfect substitute for another.

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Explanation:

You press the plus sign on the bottom click the paper clip then pick camera then post it

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You are selling friendship bracelets online and you give very clear instructions to the ISP about how to post the listing and ph
Anastasy [175]

Answer:

what is the question??

Explanation:

8 0
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When a firm develops a marketing campaign for a social cause, such as a cleaner environment, what type of marketing campaign is
Bess [88]

Answer:

Cause-related marketing

Explanation:

Cause related marketing is usually carried out between a corporation and a nonprofit organization (e.g. humane society, PETA, etc.). The corporation sponsors the nonprofit as a way of supporting their cause, e.g. better animal treatment, environment, cancer or aids awareness, etc. This way the corporation's image and its products are related to the sponsored cause.

6 0
3 years ago
The shape of your utility function implies that you are a individual, and, therefore, you accept the wager because the differenc
Blababa [14]

Answer:

The first and third statements are correct. These statements are:

The utility function of a risk-averse person exhibits the law of diminishing marginal utility.

The more wealth that risk-averse people have, the less satisfaction they receive from an additional dollar.

Explanation:

A risk-averse individual is the one who tends to avoid taking risks. In other words, such an individual prefers lower returns with known risks as opposed to higher returns with unknown risks.

The utility curve for a risk-averse individual is concave in shape. This implies diminishing marginal utility, that is, the satisfaction derived from each additional dollar gained is less than that derived from the previous dollar. Therefore, the first and third statements are both correct.

The second statement is false because risk-averse individuals do not over-estimate the probability of losing money. The fourth statement is also false because risk-averse individuals receive less satisfaction from each additional dollar, not more.

3 0
3 years ago
Suppose a basket of goods and services has been selected to calculate the consumer price index. In 2005, the basket of goods cos
scZoUnD [109]

Answer:

Correct option is C.

If the CPI is 156.25 in 2007, then 2005 is the base year.

Explanation:

The CPI js given by the formula:

Current year prices/base year prices x 100

Given the values in years 2005,2006 and 2007, of all the given options, option (c) if the CPI is 156.25 in 2007, then 2005 is the base year is corrrect. This is because calculating CPI for 2007 using the above formula and 2005 as base year gives us CPI as 156.25.

5 0
3 years ago
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