A firm in a perfectly competitive market: d. must take the price that is determined in the market.
<h3>What is a
perfectly competitive market?</h3>
A perfectly competitive market can be defined as a type of market in which there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.
This ultimately implies that, all business firms in a perfectly competitive market must be willing to take the price that is determined in the market.
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It means to say that the demand of the product is decreasing. The relationship between the price and demand is one way. It means to say that if the price increases, the demand is higher. In this scenario, the price increases to avoid shortage on the product. If the price is decreasing, it means to say that the demand is decreasing and can possibly cause surplus on the said product. Lowering the price allows consumers to have higher purchasing power and enticing them to purchase such product.
Answer:
Pretax financial income is $3,350,000.00
Explanation:
Fleming's pretax financial income is the taxable income for 2018 plus the increase in cumulative taxable temporary difference in 2018.
Taxable income is $4,000,000
Difference in cumulative taxable difference=$1,600,000-$2,250,000
=-$650,000
pretax financial income=$4,000,000+(-$650,000)
=$4,000,000-$650,000
=$ 3,350,000.00
The pretax financial income for year 2018 is $3,350,000.00
