Answer:
There are 4 conditions that make a market to be perfectly competitive:
- There must be a large number of buyers and sellers, and each one must be relatively small.
- All the sellers produce identical products or services.
- There are no barriers for entry or exit.
- All the buyers and sellers are price takers, no one can set the price at their own will.
Answer:
Line organization model
Explanation:
Based on the information provided within the question it seems that Party Pros Inc. is using a Line organization model. This is an organizational structure in which power flows from the top to the bottom, meaning that the person at the top is the owner and the individuals in each level of the hierarchy answer to those in the upper levels, all of which are trying to accomplish the same organizational goals. Such as is being described in this situation.
Answer:
the relevant cost to make is $44.35
Explanation:
given data
Direct material = $ 8.10
Direct labor = 24.10
Overhead = 40.50
Total product cost per unit = $ 72.70
Cost of purchase = $42.35
solution
we know here that 70% of overhead cost is unavoidable
so we can say that it will not be considered for decision making
so here Cost of manufacturing will be
Cost of manufacturing = $8.10 + $24.10 + ( 30% of $40.50 )
Cost of manufacturing = $44.35
and
Cost of purchase is = $42.35
so here we can say the relevant cost to make is $44.35
Answer:
The quota system is not efficient since the total supply is less than the equilibrium quantity. This will produce a deadweight loss which equals the lost supplier surplus plus the lost consumer surplus. The deadweight loss s the area between the demand and supply curve, and between the imposed quota and the equilibrium quantity.
Graph 1 shows the market equilibrium while graph 2 shows the deadweight loss.
Answer:
B) The described experiment meets or exceeds the standards of good science.
Explanation:
When we say a scientific report that has been peer-reviewed, it means that it has been read and evaluated by other scientists. The peer-review process is meant to ensure the integrity and quality of the scientific publications. The peer reviewer should review the experimental design, the data and the analysis.
