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musickatia [10]
3 years ago
7

In a perfectly competitive market, all producers sell (perfectly identical/different) goods or services. Additionally, there are

(few,many) buyers and sellers. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price (takers,makers)True or False: The market for lettuce does not exhibit the two primary characteristics that define perfectly competitive markets.
Business
1 answer:
kvv77 [185]3 years ago
4 0

Answer:

Perfectly identical goods, Many buyers & sellers, Price Takers. True

Explanation:

Perfectly Competitive market forms : consist - many buyers & sellers, trading homogeneous (identical) goods, at uniform prices.

Since, each firm constitutes an insignificant part of the market supply. So, firms don't have control over price determination & 'take' the price unanimously set by the industry .

Lettuce markets might not be an illustrative case of Perfect Competition as - The lettuce may not be homogeneous, it might be of different qualities. And the number of buyers & sellers may also not be that large. So, lettuce sellers might have certain control over price determination.

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At the current steady state capital-labor ratio, assume that the steady state level of per capita consumption, (C/N)*, is greate
Blizzard [7]

Answer:

C) a reduction in the saving rate will have an ambiguous effect on (C/N)*

Explanation:

The steady state consumption refers to the difference between how capital wears out or depreciates vs total output. In order to keep a steady state consumption, the savings rate (which equals investment) must be enough to replace any worn out or completely depreciated capital.

Since the consumption rate is already higher than the steady state consumption, the effect of a decrease in the savings rate is ambiguous. Every dollar earned by a household is either spent or saved, and in order for savings to decrease, spending must increase.

But in this case, the spending level is already too high. A decrease in savings should increase consumption but the effects of the increase in the capital labor ratio and the per capita consumption are not certain.

6 0
3 years ago
It is important to strengthen the presentation through the use of charts, catalogs, brochures, pictures, ads, illustrations, map
aliina [53]

Answer:

Presentations are a vital source of marketing a product. The sales team can impact a client by its presentation skills. The presentation is impacting if it contains graphs, charts and pictures. This enables the client easy comparison among other products.  

Explanation:

The presentations helps the sales team to market their product easily. The brochures, pictures, catalogs and graphs are used for easy illustrations. They help the managers and clients to easily understand the product features and its performance over years with comparison of other products.

7 0
3 years ago
Assume that an economy produces only two goods, pizza and wings. Which of the following are ways to increase the maximum possibl
Effectus [21]

Answer:

A, B, and D

Explanation:

According to my research on production optimization, I can say that based on the information provided within the question all of the answers provided except for improved wing-making technology would maximize the possible number of pizzas produced. This is because each of these answers provides a method of producing more pizza in the same time frame as before.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

8 0
3 years ago
The recent global boom in the market price for scrap steel and aluminum leads to a sudden rise in the theft of everyday metal ob
Kipish [7]

Answer:

C

Explanation:

The recent global boom in the market price for scrap steel and aluminum<em><u> has led to a sudden rise in the theft of everyday metal objects like manhole covers, guard rails, and empty beer kegs. </u></em>

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8 0
3 years ago
Most people would rather give up their tvs or the internet than their mobile phones.
12345 [234]

ANSWER – TRUE

 

Most people would rather do away with their TVs or the Internet than their mobile phones. <span>While for a fact, television remains the most used media, and the internet is fast catching up, surveys have shown that most people would still prefer to hold on to their mobile phones above these two.</span>

5 0
3 years ago
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