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ValentinkaMS [17]
3 years ago
8

In a perfectly competitive market, Multiple Choice all firms produce and sell a standardized or undifferentiated product. the ou

tput sold by a particular firm may be quite different from the output sold by the other firms in the market. firms are price-setters. it is difficult for new firms to enter the market due to barriers to entry.
Business
1 answer:
Umnica [9.8K]3 years ago
6 0

Answer:

all firms produce and sell a standardized or undifferentiated product

Explanation:

A perfectly competitive market is a market in which there are many companies that offer the same product, there are not entry barriers which makes it easy for an organization to enter or exit the market. Also, the companies are not able to influence the market and they are not able to control the conditions in it. According to this, the answer is that in a perfectly competitive market, all firms produce and sell a standardized or undifferentiated product.

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Following are the transactions of a new company called Pose-for-Pics.Aug. 1 Madison Harris, the owner, invested $8,000 cash and
Rama09 [41]

Answer:

Aug 1

Dr cash $8,000

Dr photography equipment $34,400

Cr Common Stock $42,400

Aug 2

Dr Prepaid Insurance $3,000

Cr Cash$3,000

Aug 5

Dr Office supplies $1,520

Cr Cash$1,520

Aug 29

Dr Cash $4,000

Dr photography fees earned $4,000

Aug31

Dr Utilities expense $884

Cr Cash $884

Explanation:

Preparation of the general journal entries for the above transactions.

Aug 1

Dr cash $8,000

Dr photography equipment $34,400

Cr Common Stock $42,400

(8,000+34,400)

Aug 2

Dr Prepaid Insurance $3,000

Cr Cash$3,000

Aug 5

Dr Office supplies $1,520

Cr Cash$1,520

Aug 29

Dr Cash $4,000

Dr photography fees earned $4,000

Aug31

Dr Utilities expense $884

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4 0
3 years ago
Consider a city of 200 people (100 rich and 100 poor) and two neighborhoods (100 people in each). Both groups generally prefer t
Mekhanik [1.2K]

Answer:

Explanation:

Step 1. Given information.

  • City of 200 people
  • 100 rich, 100 poor.

Step 2. Formulas needed to solve the exercise.

  • P(poor) = 0.9x^2
  • P(rich)= 35x-0.1x^2

Step 3. Calculation and step 4. Solution.

P(poor) = p (rich)

0.9x2 = 35x - 0.1x2

1x2 = 35x

x = 35

x is the percentage of rich above 50%, thus there are 35% rich people above 50%.

P (poor) = 1102.5

P (rich) = 1102.5

The equilibrium premium is $1,102.5

3 0
3 years ago
Tax incidence is the A. burden sellers have to absorb from a tax on goods and services. B. deadweight loss created by a tax. C.
dybincka [34]

Answer:

E. Division of the burden of a tax between the buyer and the seller

Explanation:

Tax incidence is an economic term for the division of a tax burden between buyers and sellers. Tax incidence is related to the price elasticity of supply and demand. When supply is more elastic than demand, the tax burden falls on the buyers. If demand is more elastic than supply, producers will bear the cost of the tax.

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3 years ago
Dan Dentist was selling the building in which his office was located so that he could relocate to a larger space. Ron, a very ag
tester [92]

Answer:

<em>Duress </em>

Explanation:

Duress is a protection against an agreement. Duress is <em>the wrong pressure to force an individual  into an agreement that he or she would not normally enter into. </em>

Duress involves using force intentionally or  threatening force to induce the agreement.

It may be either physical or mental manipulation, but it must be intimidation to the degree that it robs  the other individual of independent will or freedom of choice.  

This implies that no fair alternative to entering the contract is left to the individual.

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