Answer:
Firms are said to be in perfect competition when the following conditions occur: (1) many firms produce identical products; (2) many buyers are available to buy the product, and many sellers are available to sell the product; (3) sellers and buyers have all relevant information to make rational decisions about the product being bought and sold; and (4) firms can enter and leave the market without any restrictions—in other words, there is free entry and exit into and out of the market.
Explanation:
A perfectly competitive firm is known as a price taker, because the pressure of competing firms forces them to accept the prevailing equilibrium price in the market. If a firm in a perfectly competitive market raises the price of its product by so much as a penny, it will lose all of its sales to competitors. When a wheat grower, as discussed in the Bring it Home feature, wants to know what the going price of wheat is, he or she has to go to the computer or listen to the radio to check. The market price is determined solely by supply and demand in the entire market and not the individual farmer. Also, a perfectly competitive firm must be a very small player in the overall market, so that it can increase or decrease output without noticeably affecting the overall quantity supplied and price in the market.
A perfectly competitive market is a hypothetical extreme; however, producers in a number of industries do face many competitor firms selling highly similar goods, in which case they must often act as price takers. Agricultural markets are often used as an example. The same crops grown by different farmers are largely interchangeable. According to the United States Department of Agriculture monthly reports, in 2015, U.S. corn farmers received an average price of $6.00 per bushel and wheat farmers received an average price of $6.00 per bushel. A corn farmer who attempted to sell at $7.00 per bushel, or a wheat grower who attempted to sell for $8.00 per bushel, would not have found any buyers. A perfectly competitive firm will not sell below the equilibrium price either. Why should they when they can sell all they want at the higher price? Other examples of agricultural markets that operate in close to perfectly competitive markets are small roadside produce markets and small organic farmers.
Answer:
Why is it Ironic that Isaac and Monica break up?: it is Ironic that Isaac and Monica break up because Monica could not handle Isaac loosing his eyesight.
Explanation:
Monica later broke up with Isaac because she could not handle Isaac loosing his eyesight. Throughout the book, Isaac struggles to accept why Monica broke up with him if she was "always" in love with him.
Well, people started specializing in things and if they couldn't get something because they didn't know how to make it, they would trade for it. Fast forward 8000 years, companies like Coca Cola make coke and fanta and others can't make it because they're specialized for it. They trade for it with the entire world and other companies make things that Coca Cola owners buy.
The correct answer is option <u><em>D) A style of painting in which a white slip, painted in light brown washes is applied, and then the images are outlined in dark brown or black.</em></u>
I just did the quiz and was having a hard time with this question and couldn't find the answer myself so I thought I'd post the answer for the rest of you.
Hope this helps and have a gr8 day buddies <3
