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3 years ago

The demand curve facing a perfectly competitive firm is

Business

1 answer:

ICE Princess25 [194]3 years ago

7 0

Answer:

Option (E) is correct.

Explanation:

Under the perfectly competitive market conditions, there are large number of buyers and sellers and there is no restrictions on the entry and exit of the firms. Prices of the goods are determined by the market forces and the demand curve for a firm in a perfectly competitive environment varies significantly from the market demand curve. The demand curve is horizontal because all the goods in a perfectly competitive market are considered as perfect substitutes.

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Is the externality positive or negative? Explain. Identify the socially optimum output. Explain how you determined your answer.

tankabanditka [31]

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3 years ago

Julie Brown is a single woman in her late 20s. She is renting an apartment in the fashionable part of town for $1,000 a month. A

Yakvenalex [24]

Answer:

a. Julie should continue live in her own apartment.

b. She should then purchase the condo

c. Home maintenance cost and tax benefit.

d. She should live in her own apartment and rent the condo after purchase.

Explanation:

Buying cost of condo $175,000

Loan interest amount $8,400 [ $175,000 * 80% * 6%]

Insurance premium $10 [560 - 550]

Property taxes $1,000

Maintenance expense $875 [$175,000 * 0.5%]

Total additional cost per year $10,280

If Julie plans to buy the condo she will have to incur additional cost of $10,280 per annum.

b. If the price of condo increases by 3.5% per year then she should consider buying the condo.

5 0

3 years ago

ToySpot, a soft toy manufacturer, receives an order of 250 teddy bears. For this particular order, its total inventory includes

Vinil7 [7]

Answer:

185 teddy bears are in work in progress inventory

Explanation:

given data

receives order = 250 teddy bears

fabric = 300 yards

ribbon = 200 yards

cotton = 250 pounds

to find out

how many teddy bears can be considered work-in-process inventory

solution

we know that teddy bears to be manufactured is = 250

so finished and this comes under finished goods inventory are

goods inventory = 65 teddy bears

and still in the process is 185 teddy bears

so they needs to undergo further process because the work is still not completed

so we can say that 185 teddy bears are in work in progress inventory

3 0

3 years ago

A residential property is greatly diminished in value because of the constant noise of jets taking off from a recently expanded

djverab [1.8K]

Answer:

A residential property is greatly diminished in value because of the constant noise of jets taking off from a recently expanded municipal airport. In order to be compensated for this loss, the owner could:

B.bring a suit alleging inverse condemnation

Explanation:

A law suit is a claim or legal problem taken to a court of law by an individual or organization rather than the authorities for a legal decision to be made. In the case above, the residential property diminished in value after constant noise of jets taking off from a recently expanded municipal airport. The loss in value is as a result of the recently expanded municipal airport and the property owner wants to be compensated for this loss.

In law, there are different terminologies and phrases that have specific meaning, some of them are as follows;

1. Inverse condemnation

Inverse condemnation is a case where a government entity takes private property or influences the value of that private property in one way or another then fails to compensate. In our case, this law suit can apply since the municipal airport is under the jurisdiction of the government and there action of expanding the airport caused a decline in value of neighboring residential property thus they should compensate the owner for this loss. The owner can bring a suit alleging inverse compensation.

3 0

3 years ago

8. When Jill Thompson received a large settlement from an automobile accident,

Dennis_Churaev [7]

Answer:

The amount of fees that Jill will pay this year=$248.20

Explanation:

Expense ratio is a measure of how much fees that fund management firms charge their clients for their investments services. These fees cover administrative and operational costs. In our case, the expense ratio will be expressed as the fees that Jill will pay as a portion of the total amount she invested. The expense ratio can be expressed as shown;

ER=C/A

where;

ER=expense ratio

C=total funds cost

A=total funds assets

In our case;

ER=0.17%=0.17/100=0.0017

C=unknown to be determined

A=$146,000

replacing;

C=ER×A

C=0.0017×146,000=$248.20

The amount of fees that Jill will pay this year=$248.20

3 0

3 years ago