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mestny [16]
3 years ago
9

A perfectly elastic demand function A. shows that a consumer is willing to pay any amount for the product. B. has a marginal rev

enue that is always decreasing. C. is characteristic of an individual firm operating in a perfectly competitive market. D. shows that the individual firm can increase sales by lowering the price of output.
Business
1 answer:
Svet_ta [14]3 years ago
6 0

Answer:

C. is characteristic of an individual firm operating in a perfectly competitive market.

Explanation:

Demand is perfectly elastic if the coefficient of elasticity is infinite. It means thay consumers would only buy at one price. Once that price changes, demand falls to zero.

A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply.

If a seller decides to increase the price of his good in a perfect competition, demand falls to zero and reducing price woild lead to losses.

I hope my answer helps you

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The list price on Boyton's catalog indicated that product A sells for $3,000, with a trade discount of 5%. Boyton sells the good
Alexeev081 [22]

Answer:

B) $2,850

Explanation:

1: Find the discount: $3,000*5% = $150

2: Subtract the discount: $3,000 - $150 = $2,850

4 0
3 years ago
The primary difference between product markets and factor markets is that
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Answer:

The primary difference between product markets and factor markets is that:

Product markets are markets related to products, goods, tangible finished items.  This is where you'll get your product for sale and where people will buy it.

while

Factor markets are for the factors of production, mostly intangible, like labor, capital and entrepreneurial skills.  This is what you'll use (including raw materials) to make your product.

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3 years ago
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qwelly [4]

Answer:

$6250

$5000

$5250

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

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The machine was used for only 3 months in the fiscal year. Thus, the depreciation expense = $25,000 x (3/12) = $6250

Activity method based on output = (output produced that year / total output of the machine) x (Cost of asset - Salvage value)

(1000 / 40,000) x ($212,000 - $12,000) = $5000

Activity method based on hours worked = (hours worked that year / total hours of the machine) x  (Cost of asset - Salvage value)

($212,000 - $12,000) x (525 / 20,0000)  = $5250

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