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Aleks04 [339]
3 years ago
5

Firms in a perfectly competitive market are said to be "price takers"—that is, once the market determines an equilibrium price f

or the product, firms must accept this price. If you sell a product in a perfectly competitive market, but you are not happy with its price, would you raise the price, even by a cent?
Business
1 answer:
Phantasy [73]3 years ago
8 0

Answer:

No, you wouldn't raise the price, not even by a cent.

Explanation:

The <em>equilibrium price</em> in a perfectly competitive market means that, when goods are sold at that price, there is no excess or shortage of the goods. The demand and the supply are equal.

If you were to rise your price above the equilibrium price, then the consumers will prefer to buy their goods from the rest of the firms that are selling at the equilibrium price. Your supply wouldn't sell. You would eventually be forced to accept selling your goods at the equilibrium price.

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During 20x8, a firm discontinued a component qualifying for separate disclosure within the income statement. The disposal was co
MAVERICK [17]

Answer:

  1. IFCO for 20x7 as it is reported comparatively in the 20x8 statements  = $5,600
  2. IFCO for 20x8 = $6,800

Explanation:

1) IFCO for 20x7 as it is reported comparatively in the 20x8 statements, should not include the $400 operating income from the component = $6,000 - $400, or $5,600.

2) IFCO for 20x8 should not include the gains resulting from the disposal of the component nor the losses generated by it = $7,000 - $300 + $100 = $6,800

4 0
3 years ago
Since the end of World War II, manufacturing firms in the United States and in Europe have been moving farther and farther outsi
hodyreva [135]

Answer:

Letter A is correct. <u>Skyscrapers.</u>

Explanation:

In this matter the ideal alternative is Skyscraper.  This structure is more used for the service sector as the examples mentioned in the question: finance and insurance companies.

This strategy of locating service companies close to central areas is justified by the high concentration of the target audience of the companies, in addition to the benefit of the skyscrapers being made on a small part of the land and can accommodate many people.

5 0
3 years ago
Suppose an economist tests the theory that when the price of leather increases, fewer pairs of shoes are produced. He observes m
Anastasy [175]

"Suppose an economist test the theory that when the price of leather increases, fewer pairs of shoes ..."His observations invalidate the testability of his hypothesis since they go against the ceteris paribus premise. This is further explained below.

<h3>What is an economist?</h3>

Generally, an economist is simply defined as a professional in economics.

In conclusion, To illustrate, "let's say an economist investigates the hypothesis that higher leather costs lead to fewer shoe purchases." Since his findings contradict the ceteris paribus premise, his hypothesis cannot be tested.

Read more about economist

brainly.com/question/14299791

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3 0
1 year ago
What do economies of scale, the ownership of essential raw materials, and patents have in common?
allsm [11]

Answer:

They all are barriers to entry.

Explanation:

For an imperfectly competitive firm: the marginal revenue curve lies below the demand curve because any reduction in price applies to all units sold.

6 0
3 years ago
all of the following are required for adverse possession except that it must be under a claim of right or color of title open an
Alina [70]

One thing that is not required for adverse possession is confrontation with the owner.

<h3>What is adverse possession?</h3>

Adverse possession refers to the way a person staying on a piece of land, can get the title to that piece of land from the owner by law. But they will need to meet certain requirements for them to be able to do so.

Some of these requirements include:

  • a claim of right or color of title
  • open and notorious use
  • hostile to the true owner's title
  • pay taxes

This means that for one to perform an adverse possession, there is no need for a confrontation with the owner of the land. One can simply get this done with the Courts.

Find out more on adverse possession at brainly.com/question/28167922

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8 0
2 years ago
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