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3 years ago

In a perfectly competitive market, the price of the product is

Business

1 answer:

Mkey [24]3 years ago

7 0

Answer:

b. set by market supply and demand.

Explanation:

A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Because goods are homogenous and there are many buyers in the industry, sellers do not set the price for their goods and services. Prices are set by the market forces of demand and supply. This makes sellers price takers.

Other features of perfect competition are :

1. No barriers to entry or exit of firms

2. Firms make zero economic profit in the long run.

I hope my answer helps you.

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Suppose that you want to develop a product that can easily be configured in a wide variety of ways. What design approach would b

NNADVOKAT [17]

Answer:

Modular product design

Explanation:

Modular product design is a term used to describes a method or strategy of developing a product, by breaking the product's development into separate parts often referred to as modules, specifically according to their functions and operations such that these modules can be developed separately.

Hence, in this case, to develop a product that can easily be configured in a wide variety of ways. The design approach would be best be Modular product design

4 0

3 years ago

Fogerty Company makes two products, titanium Hubs and Sprockets. Data regarding the two products follow:

Oliga [24]

Answer:

Hubs Sprockets

Direct Materials 29 17

Direct Labor 13.3 5.7

Overhead 14.65 0.24

Unit Cost 56.95 22.94

Explanation:

Labor:

Hubs: 0.7 hours per unitx 19 labor rate = $13.3

Sprockets 0.3 x 19 = $5.7

Direct Materials:

Hubs $29

Sprockets $17

Overhead rate

Activity Pool Hub Sprockets

Machine Setups 225 125(55.56%) 100(44.44%)

Special processing 3900 3900

Machine Setups

27,000 x 55.56% /13,000 units: $ 1.1538

27,000 x 44.44% / 50,000 units $ 0.24

Special Processing

175,500/13,000 = $13.5

Total overhead

sprockets: $0.24

hubs: $14.65

Units cost:

hubs: 13.3 + 29 + 14.65 = 56.95

sprockets: 5.7 + 17 + 0.24 = 22.94

6 0

2 years ago

Clinton County maintains an investment trust fund for the investments of governments within its borders. All the investments had

faltersainse [42]

Answer:

Clinton County would report the investments of the other governments at fair value in the investment trust funds.

Explanation:

An investment trust fund is set up to maintain and control assets and is usually controlled and managed by a neutral trustee.

The neutral trustee holds and manages assets on behalf of a beneficiary.

Clinton Country is the trustee in this case and would therefore, report investment of other governments and not its own investments at fair value.

6 0

3 years ago

All-Star Enterprises purchased a machine on January 1. The company uses straight-line depreciation for financial reporting and a

maks197457 [2]

The amount that will be recorded as a deferred tax liability during the year is $10800.

<h3>How to calculate the tax liability?</h3>

From the information given, the depreciation for tax purposes during the year was $36,000 greater than depreciation for financial reporting and a 30% tax rate will apply in the future.

Therefore, the amount that will be recorded as a deferred tax liability during the year will be:

= 30% × $3600

= 0.3 × $36000

= $10800

Learn more about tax on:

brainly.com/question/25783927

#SPJ1

3 0

1 year ago

How do you get a business at the age of 13

asambeis [7]

You can start a business no matter what by being smart, and think before you act... my business is being a YouTuber