Answer:
there is no deadweight loss.
Explanation:
In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.
This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.
Generally, a perfectly competitive market is characterized by the following features;
1. Perfect information.
2. No barriers, it is typically free.
3. Equilibrium price and quantity.
4. Many buyers and sellers.
5. Homogeneous products.
Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market.
Hence, if equilibrium is achieved in a competitive market then, there is no deadweight loss i.e a loss of economic efficiency due to a lack of balance in competing economical influences for goods or services.
Answer:
have you tired looking on ebay
Answer:
a. We need more information to answer
Explanation:
In order to correctly answer his question we need more information. Economy is all about the margin, i.e. marginal revenue versus marginal cost. We are given the marginal revenue ($20/hr of tutoring services) but we are not given the marginal costs of tutoring. We only know that the cost of tutoring the first hour is $14, but what about the rest of the hours. Since you have 5 clients, you must be tutoring more than 1 hour per day. It is always easier to determine the marginal revenue since we determine it, while we cannot determine which costs we would like to incur.
Profits should be maximized when marginal revenue = marginal cost, but unless we know the marginal cost of tutoring the rest of the students we simply cannot answer this question.
Pleistocene is the subdivision of geologic time that does not belong with the others.
The Pleistocene period is referred to as a geologic time period which includes the last ice age, when glaciers covered huge parts of the globe. During the Pleistocene the most recent episodes of global cooling, or ice ages, took place.
Pleistocene period was also characterized by the presence of distinctive birds and the large land mammals. During the Pleistocene period, mountain glaciers formed on all the continents and vast glaciers.
Thus, Pleistocene is known to be the subdivision of geologic time which does not belong with the others.
Hence, option C is correct.
To learn more about Pleistocene here:
brainly.com/question/28102167
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Answer:
QUESTION 1 : sales allowance method
QUESTION 2: $60,000
QUESTION 3: $180
QUESTION 4: Accounts Receivable
Explanation:
