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2 years ago

Which statement is the best description of a price‑taker as it pertains to perfect competition?

Business

1 answer:

Nesterboy [21]2 years ago

8 0

Answer:

The correct answer is letter "A": Mary Beth grows cotton. She finds that she can always sell her entire crop at the market price. However, if she asks a price that is even slightly higher she cannot sell any of her cotton.

Explanation:

Perfect Competition is a market where competition is at the highest degree possible. Perfect competitive markets have the following characteristics:

All companies sell the same goods or services.
All companies are price takers.
All firms have relatively small market shares.
Buyers have full product and price information.
The industry is characterized by low or no barriers to entry and exit of the industry.

Thus, in Mary Beth's case, she cannot ask for a different price than the one of the market because in a perfectly competitive market it is controlled by supply and demand. Companies cannot set the price.

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Mary has increased her __________ skills that now allow her to access, interpret, summarize, and communicate data more effect

stepladder [879]

Answer:

Mary has increased her data literacy skills that now allow her to access, interpret, summarize, and communicate data more effectively.

Explanation:

Data analysis is the process by which data is transformed in such a way that useful information can be extracted from it. Data analysis is a key skill that is needed in most business nowadays, for example; financial data can be very crucial in the planning, budgeting and execution of projects. The process of data analysis has been automated to take raw data and produce a result that can be readily consumed easily by humans in the form of charts and graphs. From this end result, conclusions can be drawn by data experts on what the results mean.

Experts in data analysis are therefor needed to adequately access, interpret, summarize and communicate data more effectively. These are skills that need to be learned for better overall quality of the data presentation. In general, the principals are referred to as data literacy skills. Data literacy can be defined as the ability of an individual to extract useful information from raw data.

3 0

3 years ago

Recording partner's original investment Instructions Kimberly Payne and Arionna Maples decide to form a partnership by combining

levacccp [35]

Answer and Explanation:

The Journal entry is shown below:-

Cash A/c Dr, $20,000

Accounts Receivables A/c Dr, $140,000

($145,000 - $5,000)

Inventory A/c Dr, $101,700

Equipment A/c Dr, $81,200.

To Allowance for doubtful Accounts $4,400

To Payne's Capital A/c $338,500

(Being assets contributed by partner in business is recorded)

For recording the assets contributed by partner in business we simply debited the cash account, accounts Receivables, Inventory and Equipment as increase the assets while we credited the Allowance for doubtful Accounts as it decreasing the assets and Payne's Capital as increasing the stockholder equity.

7 0

2 years ago

MGM Resorts Incorporated is expected to grow at an exceptionally high rate over the next 2 years due to the success of Macau cas

Burka [1]

Answer:

The value of a share of MGM Resorts stock today will be $16.42

Explanation:

In order to calculate the value of a share of MGM Resorts stock today we would have to calculate the following steps:

Step-1, Dividend for the next 2 years

Dividend per share in Year 0 (D0) = $1.20 per share

Dividend per share in Year 1 (D1) = $1.4400 per share [$1.20 x 120%]

Dividend per share in Year 2 (D2) = $1.7280 per share [$1.4400 x 120%]

Step-2, Share Price in Year 2

Dividend Growth Rate after Year 2 (g) = 4.00% per year

Required Rate of Return (Ke) = 14.00%

Share Price in Year 2 (P2) = D2(1 + g) / (Ke – g)

= $1.7280(1 + 0.04) / (0.14 – 0.04)

= $1.7971 / 0.10

= $17.97 per share

Step-3, The Current Stock Price

As per Dividend Discount Model, Current Stock Price the aggregate of the Present Value of the future dividend payments and the present value the share price in year 2

Year Cash flow ($) PVF at 14.00% Present Value of cash flows ($)

[Cash flows x PVF]

1 1.4400 0.877193 1.26

2 1.7280 0.769468 1.33

2 17.97 0.769468 13.83

TOTAL 16.42

Hence, the value of a share of MGM Resorts stock today will be $16.42

6 0

3 years ago

The more information an entrepreneur acquires during the process of _____, the higher the chance that his or her predictions wil

Mashutka [201]

The more information an entrepreneur acquires during the process of feasibility analysis, the higher the chance that his or her predictions will be close to the mark, risk will be reduced, and uncertainty managed.

<h3>Explanation:</h3>

The study or examination about the extent to which the proposed idea will be practical and can be achieved at an economic manner refers to the feasibility study. In business it is very essential to decide whether to take up a project or not. It also helps in narrowing the project and plan accordingly.

It also helps in making predictions about whether the expected results can be attained from a particular idea or a project. Thus during the feasibility study the entrepreneur must obtain as much information as possible as it helps him in the evaluation of risks, uncertainties and other related things.

7 0

2 years ago

JulsSmile [24]

Answer:

Managing your money behavior

Explanation:

Personal finance is the management of individual financial activities of generating income and expenditure. It involves the process of setting personal financial goals and making plans on how to achieve them. Personal finance entails developing personal budgets, savings and investment plans to achieve short term and long term financial goals.

Individuals may need to hire personal finance managers to help them manage their finances. The role of the personal-finance manager is to advise and help in the making and implementation of financial goals. Personal finance involves managing money behavior to achieve the desired results.

4 0

3 years ago