All categories

3 years ago

Price is constant to the individual firm selling in a purely competitive market because

Business

1 answer:

Ulleksa [173]3 years ago

3 0

Answer:

Option C - each seller supplies a negligible fraction of total supply.

Explanation:

Price is constant to the individual firm selling in a purely competitive market because each seller supplies a negligible fraction of total supply.

You might be interested in

A company's prime costs total $4,800,000 and its conversion costs total $8,800,000. if direct materials are $1,900,000 and facto

garri49 [273]

Prime cost=direct material+direct labor
4800000=1900000+direct labor
Solve for direct labor
Direct labor=4800000-1900000
Direct labor=2900000. ..answer

If you try with the formula of the conversation cost to solve for direct labor, you will get the same answer

The formula of the conversation cost is
CC=direct labor+factory overhead

Hope it helps!

3 0

3 years ago

Explain the free trade theories

rusak2 [61]

Answer:

Free Trade Definition. Free trade is a largely theoretical policy under which governments impose absolutely no tariffs, taxes, or duties on imports, or quotas on exports. In this sense, free trade is the opposite of protectionism, a defensive trade policy intended to eliminate the possibility of foreign competition

5 0

3 years ago

Franco and Jason share income and losses in a 2:1 ratio after allowing for salaries of $14,100 and $42,900, respectively. If the

poizon [28]

Answer:

The answer is $37,800

Explanation:

Franco and Jason share profit and loss in the ratio 2:1.

2 is for Franco and 1 is for Jason.

The addition of the two ratios is 3.

Jason's capital account will be his salary minus his share from the loss.

Jason's share from the loss is:

1/3 x $15,300

=$5,100

Jason's salary is $42,900

Therefore, Jason's capital account will increase by:

$42,900 - $5,100

$37,800

6 0

3 years ago

Firms that compete in the global marketplace typically face two types of competitive pressures, namely, the pressures for ______

mr_godi [17]

Answer:

a. global integration; local responsiveness.

Explanation:

A competitive pressure in business management can be defined as the degree of competition faced by a firm which involves the process of seeking to have a significant share of the available customers and market in a specific industry.

Firms that compete in the global marketplace typically face two types of competitive pressures, namely, the pressures for global integration and local responsiveness.

A global integration can be defined as the degree to which a particular firm can make use of the available resources, products and methods in another country.

On the other hand, local responsiveness can be defined as the extent to which a particular firm must customize or tailor its products and methods of production in order to meet conditions in another country.

6 0

3 years ago

An auto manufacturer uses 500 tons of steel per day. The company pays $1100 per ton of steel purchased, and each order incurs a

mr Goodwill [35]

Answer:

economic order quantity (EOQ) = √(2SD/H)

D = annual demand = I will assume that the company works during 250 days per year (from Monday to Friday) = 250 x 500 = 125,000

S = order cost = $2,250

H = holding cost = $275

EOQ = √[(2 x 2,250 x 125,000) / 275] = 1,430.19 ≈ 1,430 tons

cycle length:

125,000 / 1,430 = 87.4 purchases per year

365 days / 87.4 = place a purchase order every 4.2 days

total annual cost:

total costs = (87.4 x $2,250) + (125,000 x $1,100) + (1,430/2 x $275) = $196,650 + $137,500,000 + $196,625 = $137,893,275

6 0

3 years ago