Answer:
Part A
1) Total amount of oats allowed = 960000*16 = 15360000 ounce
2) Total amount of labor hours allowed
= 960000*.04 = 38400 Hours
Part B :
1) Total amount of oats allowed = 750000*17 = 12750000 ounce
2) Total amount of labor hours allowed
= 750000*.04 = 30000 Hours
Explanation:
Answer:
False.
Explanation:
In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.
This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.
Hence, a perfectly competitive market is characterized by the following features;
1. Perfect information.
2. No barriers, it is typically free.
3. Equilibrium price and quantity.
4. Many buyers and sellers.
5. Homogeneous products.
Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market
A Perfectly competitive firm’s entire marginal cost curve is not its short-run supply curve but only the portion of the marginal cost (MC) curve of the perfectly competitive firm that lies above its average variable cost (AVC) curve would be its short-run supply curve.
Answer:
You should plan to study at least 2-3 hours a week for each credit. In other words, for each three-credit course, you would study 6-9 hours per week. When you compare this time with what you spend in class and studying outside of class, it is about the same.
Explanation:
An account with a financial institution used to pay taxes and insurance is called An escrow account.
Answer is An escrow account
