Price is taken to be a given by an individual firm selling in a purely competitive market because each seller supplies a negligible fraction of total market.
Purely competitive market refers to a marketing situation in which there are a large number of sellers of a product which cannot be differentiated selling a standardized product and therefore, no single firm has a significant influence on the product price. It is characterized, furthermore, by ease of entry for new companies into the market and perfect market information. Hence, the sellers in such a market are considered to be price takers. Examples of purely competitive market are agricultural products such as wheat or corn.
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Answer:
The accounting cost and the economic cost associated with Joe's computer software business is $75,00 and the $165,000 respectively.
Explanation:
The computation of the accounting cost and the economic cost is shown below:
Accounting cost = Other Expenses + Salary paid to himself
= $35000 + $40,000
= $75,000
Economic cost = Accounting cost + Salary expense + Rent expenses
= $75,000 + $65,000 + $25,000
= $165,000
Answer:
The statement is: True.
Explanation:
A competitive advantage is an advantage an individual, organization or country has over its competitors. That competitive advantage can be a comparative advantage when the entity has found a way to implement lower opportunity costs in its production process or a differential advantage if the firm provides a product or service with a unique feature difficult to replicate by competitors.
Answer: The correct answer is "recorded in equity recorded in equity, as part of other comprehensive income.".
Explanation: Gains or losses on cash flow hedges are <u>recorded in equity, as part of other comprehensive income.</u>
<u>The gains or losses of a cash flow hedge must be recorded, as part of other comprehensive income, in equity.</u>
Answer:
Social capital
Explanation:
Social capital is defined as the effective or efficient functioning of the social groups through using the relationship of interpersonal, shared understanding, reciprocity, shared norms, cooperation, shared values and shared norms.
So, the social capital is the productive potential of cooperative relationships, strong and trusts. And this kind of capital help the person land the job. Within the survey it is stated that the 74% had found quality applicants by referrals of employees.
