1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Roman55 [17]
3 years ago
10

Why is a firm in perfect competition a price​ taker? A firm in perfect competition is a price taker because​ _______. A. it prod

uces a tiny proportion of the total output of a particular good and buyers are well informed about the prices of other firms B. it is easier to take the price as given rather than calculate the​ profit-maximizing price C. charging a lower price than the market price is considered uncompetitive D. the market price is always the​ profit-maximizing price
Business
2 answers:
max2010maxim [7]3 years ago
6 0

Answer:

Correct answer for why a firm in perfect competition is a price taker is option  <u>A. it produces a tiny proportion of the total output of a particular good and buyers are well informed about the prices of other firms</u>

Explanation:

A price taker is a company that has no control to dictate prices for a good or service.

In the stock exchange market, a price taker is a trader who does not affect the price of the stock if he or she buys or sells shares.

A price taker is a business that sells such available products that it must accept the prevailing market price for its products. For example, a farmer produces wheat, which is a readily available. The farmer can only sell at the prevailing market price or lose.

All economic participants are considered to be price-takers in a market of perfect competition or one in which all companies sell an identical product, there are no barriers to entry or exit, every company has a relatively small market share, and all buyers have full information of the market.

VLD [36.1K]3 years ago
3 0

Answer: B it's easier to take the price as given rather than calculate the profit maximizing price

Explanation:

Because if a firm in perfect competition attempt to charge a tiny amount above the market price sales will be hard and sometimes almost impossible

You might be interested in
A resource-based strategy Multiple choice question. focuses on efficient execution of both primary and supporting components of
ki77a [65]

Answer:

can be achieved by exploiting resources that are competitively valuable, rare, and hard to imitate by rivals

Explanation:

A resource-based strategy is a form of the technique used by business managers to efficiently utilized the existing and valuable resources of the firm. These resources would be difficult to come by for the competitors such that it is hard for competitors to replicate. Thereby leading a sustainable or long term competitive advantage to the firm

Hence, in this case, the correct answer is A resource-based strategy "can be achieved by exploiting resources that are competitively valuable, rare, and hard to imitate by rivals."

5 0
2 years ago
What is the principle of the law of supply?
seropon [69]

B. The higher the price, the larger the quantity produced.

6 0
3 years ago
Read 2 more answers
How is the price elasticity of demand​ measured? A. by multiplying the percentage change in the​ product's price by the percenta
Lapatulllka [165]

Answer:

How is the price elasticity of demand​ measured?

c. by dividing the percentage change in the quantity demanded of a product by the percentage change in the product's price

Explanation:

Price elasticity of demand (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price when nothing but the price changes. More precisely, it gives the percentage change in quantity demanded in response to a one percent change in price.

8 0
3 years ago
Read 2 more answers
Today's workers are referred to as __________ and they use BI along with personal experience to make decisions based on both inf
Harrizon [31]

Answer:

Knowledge workers

Explanation:

Business intelligence (BI) refers to the application and practice of collecting and analyzing multi sources (such as suppliers, customers, partners) of information in-other to make better business decisions.

A knowledge worker is one that uses business intelligence with personal experience to make strategic business decisions valuable to the company.

8 0
3 years ago
Connie works in the Human Resource department of a company and is
GenaCL600 [577]

Answer:

Explanation:

A This scenario describes a payroll fraud ; This is a form of fraud where an employee or an employer manipulates the payroll system in order to fraudulently receive an un earned wages.

B The employees that Connie was paying to their account that she controls are called Ghost employees. These are fictitious person  put on a payroll for fraud purposes.

C The fact that it took the company 5 years to discover the fraudulent practice indicates a weak internal control environment

D

  1. Some of the actions that the company failed to do are
  2. No proper authorization in place before employees are added to payroll
  3. No segregation of duties as Connies appears to have been the person that add employees to payroll , approve and also disburse salary
  4. There has been no headcount of employees for a long time
  5. The entire payroll system has not been audited and reviewed for a long time

8 0
3 years ago
Other questions:
  • Dangerousness had been conceptualized as a ________ variable, while risk assessment is a ________ variable.
    6·1 answer
  • (tco 1) you are fairly good at various and sundry home repairs. you arent very good at electrical things, or anything having to
    6·1 answer
  • Assume that your firm consists of Division 1 (40 percent of the firm) and Division 2 (60 percent of the firm). The capital struc
    8·2 answers
  • Kegler Bowling buys scorekeeping equipment with an invoice cost of $190,000. The electrical work required for the installation c
    13·1 answer
  • Francois pays a lot of attention to the environment outside his company, staying alert for long-run opportunities and problems a
    13·1 answer
  • What are the principal tools and technologies for accessing information from databases to improve business performance and decis
    6·1 answer
  • If a firm plans to issue new stock, flotation costs (investment bankers' fees) should not be ignored. There are two approaches t
    5·1 answer
  • Item 5Item 5 Internationally, legislators and professional bodies have focused on corporate governance issues in making recommen
    14·1 answer
  • Housing subsidies for low-income households:__________.
    10·1 answer
  • How should a christiandetermine whether to obey a specific command from his government?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!