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vlada-n [284]
3 years ago
13

The model of competitive markets relies on these three core assumptions: 1. There must be many buyers and sellers—a few players

can't dominate the market. 2. Firms must produce an identical product—buyers must regard all sellers' products as equivalent. 3. Firms and resources must be fully mobile, allowing free entry into and exit from the industry.
Business
1 answer:
iren [92.7K]3 years ago
4 0

Answer:

A Perfectly competitive market

Explanation:

To answer the question above, the model of competitive market is called A Perfectly competitive market.

A perfectly competitive market is a hypothetical market where competition is at it's greatest possible level. Neo-classical economist argued that perfect competition would produce the best possible outcomes for consumers, and society.

An industry structure in which there are many firms, none large enough to influence the industry, producing homogeneous products. Firms are price takers. There are no barriers to entry . Agriculture comes close to being perfectly competitive.

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on december 31 of last year, wolfson corporation had in inventory 450 units of its product, which costs $22 per unit to produce.
11Alexandr11 [23.1K]

Answer:

$18,650

Explanation:

FIFO means first in, first out. It means its the oldest inventory that are sold first .

If the company sold 800 inventory, the 800 would be taken from the beginning inventory which is a total of 450 and the remaining 350 would be taken from the inventory produced in January.

Cost of goods sold

450×$22 = $9,900

350 ×$25= $8,750

$9,900 + $8,750 = $18,650

I hope my answer helps you

8 0
3 years ago
Unidice, an information technology firm, recently installed a new data system that provides seamless access to data. This data s
IceJOKER [234]

Answer:

first-mover advantage

Explanation:

First-mover advantage refers to the strategic advantage achieved by the first company that occupies a market segment. In order for a company to gain first-mover advantage it must be the first company to enter a market or at least be the first company to gain competitive advantage in that market.

Unidice is the first company to gain competitive advantage in the data system market because its processing speed is much higher than its competitors.

Sometimes you don't need to be the first one to enter a market, but you need to be the first one to do things right. For example, Microsoft introduced the Surface tablet almost a decade before Apple introduced the iPad, but Apple did it right, therefore Apple gained first mover advantage.

6 0
3 years ago
Instructing your broker to buy or sell a stock at a particular price is a:
Liula [17]
Trading or Marketing guides/instructions
5 0
3 years ago
The Bay Fig Corporation has $350,000 of taxable income from operations for the current year, and dividends of $50,000 received f
Natali5045456 [20]

Answer: $25,000

Explanation:

When a company owns less than 20% of another company and receives dividends from that company, they are allowed to deduct 50% of that dividend for tax purposes.

Bay Fig owns 10%(less than 20%) of the domestic corporations so qualifies for the 50% reduction:

= Dividends * 50%

= 50,000 * 50%

= $25,000

3 0
3 years ago
For which buyer would a lender most likely approve a $200,000 mortgage?
jolli1 [7]
I think the answer is B: a person with a credit score of 760 with a small amount of debt who has had steady employment for many years. 

5 0
3 years ago
Read 2 more answers
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