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BabaBlast [244]
3 years ago
8

Which of the following is NOT a basic assumption of perfect​ competition? A. Production is characterized by significant economie

s of scale. B. There is free entry and exit from the market. C. All firms produce​ identical, or nearly​ identical, products. D. All firms and consumers are price takers.
Business
1 answer:
Alex17521 [72]3 years ago
7 0

Answer: Production is characterized by significant economies of scale is not an assumption of perfect competition (A)

Explanation:

A perfect competition is a form of market structure that has many buyers and may sellers. In a perfect competition, there is a free entry and exit for producers as there is no barrier.

Also, firms are price takers as no producer can influence the price of the goods in the market unlike in an imperfect competition which is a price maker as producers can influence price. Firms also sell identical products that are the same in quality, size etc.

In a perfect competition, production is not characterized by significant economies of scale. That is an assumption that can be found in monopoly.

Therefore, option A is the right answer.

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Hot Wok Cuisine is a premium Asian restaurant chain that differentiates itself from a large number of competitors by providing e
eduard

Answer: monopolistically competitive industry

Explanation:

Based on the above information, Hot Wok Cuisine is most likely operating a monopolistically competitive industry.

This is a type of industry whereby the firm's make their own pricing and output decisions. There are large number of competitors, but the products that they sell are slightly different from one another. Also, there some entry barriers.

We can infer that the restaurant differentiates itself from a large number of competitors by providing exclusively organic Chinese cusine and there are entry barriers.

7 0
3 years ago
Decision support systems ____.a.might support a decision maker in only one or two of the problem-solving phases support optimiza
____ [38]

Answer:

all of the above

Explanation:

<u>Decision support systems</u> is a computer system that uses information systems. <em>The main objective</em> of this program is to assist in organizational decision making. To be enabled for this function, the system operates using a large amount of data, which converts information and compiles the most relevant information to provide existing alternatives that assist the effective decision making process.

4 0
3 years ago
Tiana would like to buy ice cream cones for her birthday party, but she wants cones with the largest volume. Which of the follow
wlad13 [49]
<span>the basic formula should be Volume of cone= 1/3bxh

</span><span>so all you have to do is plug in your numbers
</span>
<span>V of ice cream A = ( pi 5^2 (16) ) /3 = 400pi/3 = 133.33 pi
V of ice cream B = ( pi 4^2 (20) ) /3 = 320 pi/3 = 106. 67 pi
 
As in comparison, you can figure out which one would give her more volume of ice cream :)
</span>
A. Brand A
4 0
4 years ago
Read 2 more answers
CrossCountry Trucking &amp; Transport enters into a contract with Discount Outlet Stores to load, transport, deliver, and unload
Mila [183]

Answer:

C) tender.

Explanation:

In contract law, a tender offer to perform is conditioned to the moment when the other party is willing and ready to perform as well. In this case, CrossCountry signed a contract, but the contract will be valid when the other party (Discount Outlet Stores) needs their services. If the other party does not require their services, CrossCountry is not able to perform nor demand performance.

6 0
3 years ago
Carpenter Inc. had a balance of $88,000 in its quality-assurance warranty liability account as of December 31, 2020. In 2021, Ca
Luba_88 [7]

Answer:

$43,000

Explanation:

Warranty expense for 2021 = $40.8 millions * 1%

Warranty expense for 2021 = $408,000

Balance in Liability on 31 Dec =  Warranty Liability on 1 Jan + Warranty Expenses - Warranty Expense paid

Balance in Liability on 31 Dec = $88,000 + $408,000 - $453,000

Balance in Liability on 31 Dec = $43,000

So, the balance in the warranty liability account as of December 31, 2021 is $43,000.

4 0
3 years ago
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