Numbers of suppliers in a purely competitive market dictate how easy it is to start a business or transform it in that sector.
Explanation:
Entry an d Exit in a business sector means the ease of starting or transforming a business that is involved in a particular market sector.
In a purely competitive market the business is dictated by the market standards set by the completion of the various companies vying for a market share between each other.
The harder the competition at the top level, the harder it is for a new business to come up, similar is the case for when one or two companies dominate the hegemony in which case it is hard to grab a market share for the new entrant in the market.
The correct answer is c. prepare a "blueprint" for the development of your business
The business plan is best for you as the company owner, not for the state or anyone else. All major companies write business plans for up to 20 years in advance because they have to plan everything.
Answer:
Total no. of people employed:
= No. of people working part-time + No. of people working full time
= 4.9 million + 14.53 million
= 19.43 million
Total no. of people unemployed:
= People in the working age population who are not working and have looked for work in the past four weeks
= 2.90 + 1.72 million
= 4.62 million
Labor force = Total no. of people employed + Total no. of people unemployed
= 19.43 million + 4.62 million
= 24.05 million
Labor force participation rate:
= 0.6699
= 66.99%
Unemployment rate:
= 0.1920
= 19.20%
Answer:
a. Smooth Move should REJECT the order
b) Net loss from accepting the order $ (7,500)
Explanation:
Relevant costs are future incremental cash costs that arise as a direct consequence of a decision.
The relevant cash flows of this decision include the following:
- Variable cost of production -(3.10 +2.25 +1.15) + $0.20= $6.7 per unit
- Cost of additional machine - $12,000.
- Sales revenue from the special offer
$
Sales revenue from special offer (15,000×$7.00) = 105,000
Variable cost (15,000× $6.7) (100,500)
Cost of additional machine - <u> (12,000)</u>
Net loss from accepting the order <u> (7,500)</u>
