Answer:
A, B , and E
Explanation:
<u>A. Budgeted purchase prices were set without careful analysis of the market</u>
Budgets are prepared using estimated prices. As much as possible, the budget prices should be the same as market prices. It may happen that during price estimation, some aspects could have been ignored, leading to incorrect purchase prices. It could be possible that the budget prices are overstated. In such a scenario, there would be a favorable price variance to the business.
<u />
<u>B. Materials prices decreased unexpectedly due to industry oversupply</u>
The supply and demand forces determine the prices of raw materials. Low supply will lead to an increase in price as many buyers chase few goods. Constant demand and supply create stable prices. A sudden increase in supply will lead to reduced prices, which will cause favorable variances to the business.
<u>E. The materials purchasing officer negotiated more skillfully than was planned in the budget.</u>
The purchasing manager does the actual buying in any organization. Should the manager be a skilled negotiator, the business stands a better chance of buying goods at low prices. In this case, the purchasing manager negotiated for better prices. The results will be a positive price variance for the company.
Answer:
The correct answer is option A.
Explanation:
A perfectly competitive market has large number of sellers producing homogenous products. As a result, no single firm is able to affect the price level. So all the firms have their individual demand curves as a horizontal line at the price level.
This demand curve also represents marginal revenue. The firm is able to maximize profit when the price and marginal revenue is equal to the marginal cost.
Here, the revenue earned from the last unit of product is equal to the cot incurred in producing the last unit.
<u>Explicit</u> costs are the monetary payments made for market-supplied inputs while <u>implicit</u> costs are non-monetary opportunity costs.
Market, a means by using which the alternate of goods and offerings takes location as a result of shoppers and dealers being in touch with one another, both without delay or through mediating dealers or establishments.
A market is an area in which consumers and sellers can meet to facilitate the alternate or transaction of goods and offerings. Markets can be physical like a retail outlet, or digital like an e-store. Different examples encompass illegal markets, auction markets, and financial markets.
The definition of a market is an area in which you go to buy matters or a call for a specific item. An example of a marketplace is a grocery save or a farmer's marketplace where stands are set up and fruits and vegetables are sold.
Learn more about the market here brainly.com/question/906651
#SPJ4
