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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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bija089 [108]

The question "Who has the greatest need?" must be considered by the society when deciding for whom to produce on a potentially scarce or limited resource.

<h3>What is the whom to produce?</h3>

As part of an economic problem, this refers to problem of distribution of final product.

Thus, the question "Who has the greatest need?" must be considered by the society when deciding for whom to produce while deciding who to produce a potentially scarce or limited resource for.

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2 years ago
Sophie works as a superior in the bakery at pick and pay. what level of management is she?
bagirrra123 [75]

Answer:

First-line manager.

Explanation:

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3 years ago
On September 1, 2021, Middleton Corp. lends cash and accepts a $4,000 note receivable that offers 10% interest and is due in six
iris [78.8K]

Answer:

Middleton Corp. will report interest revenue of 133.33 for the period of 2021.

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The adjusting entry for the interest receivable for the period ended 31 december will require the Middleton Corp. to record the 4 months interest as interest revenue for the period ended 2021.

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8 0
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What is trade in economics​
NeTakaya

Answer:

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Explanation:

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3 years ago
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