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3 years ago

Relative to other market structures, perfectly competitive markets have which of the following properties? Correct Answer(s)

Business

1 answer:

nikdorinn [45]3 years ago

4 0

Answer:

Explanation:

Firms are very large relative to the market- INCORRECT, this is a feature of Monopoly market.

Entering and exiting the market are relatively easy - CORRECT, new firms can freely enter the industry or in the long run, an existing firm can freely leave the industry.

Firms are price takers, or they have no control over price- CORRECT ,a single firm in a perfectly competitive market cannot influence the market price through its own independent action. Each firm sells its products at an existing market price.

Firms produce differentiated products- INCORRECT, this is a feature of an Oligopoly market.

Firms produce similar or standardized products- CORRECT, all products are homogeneous.

Firms have significant price control-INCORRECT, this is a feature of Monopoly market.

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1 year ago

Opportunity cost is: * a. about half of the monetary cost of a product. b. the dollar payment for a product. c. the benefit deri

umka2103 [35]

Answer:

C. the benefit drived from the product

Explanation:

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2 years ago

The atmospheric pressure at a place is 650 mm of Hg. Convert this pressure

EleoNora [17]

Ans Solution

Explanation:

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2 years ago

Presented below is information related to Windsor Company.

zysi [14]

Answer:

Date Account Titles Debit Credit

Oct 1 Cash $16,800

Common Stock $16,800

Oct 2 No journal entry - -

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3 years ago

Kent and Craig, who want to start a horse-training business, spoke to an insurance agent about getting insurance to cover potent

erica [24]

Answer:

Solution: the answer in delivered in 2 stages because of the character of dualistic problems:-

Part (1)

As Kent and Craig are concerned during a professional with prospective risk and that they wish to hide their prospective accountability. the character of the industry which can be utmost applicable in corporate against the other variety of industry like individual merchant or partnership company because of the subsequent details:-

Reason I: Unrestricted accountability- just in case of insolvency or industry letdown, Kent and Craig don't seem to be obligated to trade their particular resources.

Reason II: convenience of Business- because of the Supply of additional investment compared to restricted investment in sole profession and partnership company, they're ready to manage with the qualms related to the industry.

Part (2)

Wanting to the purposes of Dave and Cindy, the indebtedness corporation is desirable because of the subsequent details:-

Reason I: No danger to non-public assets because the corporation is proscribed accountability.

Reason II: just one level of tax within the variety of company tax .

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3 years ago