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SIZIF [17.4K]
3 years ago
5

Firms in perfectly competitive industries are unable to control the prices of the products they sell and earn a profit in the lo

ng run. Which of the following is one reason for this?
A. Owners of perfectly competitive firms realize that their short-run profits are temporary. Therefore, they either sell their businesses or develop other products that will earn short-run profits.B. Firms in perfectly competitive industries can use advertising in the short run to persuade consumers that their products are better than those of other firms. But eventually consumers realize that all of the firms sell virtually identical products.C. Firms from other countries are able to produce similar products at lower costs.D. Firms in these industries sell identical products.
Business
1 answer:
cestrela7 [59]3 years ago
5 0

Answer: Option D

                                 

Explanation: In simple words, perfect competition refers to the market structure in which there are huge number of buyers and sellers and each of them operate at a very small level. All the firms in such industry sells identical products and make normal profits both in short run and long run.

No firm in a perfect competition can influence prices as they each operate at a small level and sells identical goods, therefore, a slight change in price will shift the demand to other firms and the firm charging high prices will eventually go out of the market.

In such a structure , the pries are determined by the market forces of demand and supply.

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What are the roles of resource owners in the economy
olga55 [171]

Answer:

The resource owners acts as the suppliers of factors of production like land, labor, capital or entrepreneurship to the businesses which pay these resource owners with either wages, rent, interest or profit.

5 0
3 years ago
A firm produces a product in a competitive industry and has a total cost function (TC) of TC(q) = 60 + 10q + 2q2 and a marginal
LiRa [457]

Answer:

Please see attachment

Explanation:

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6 0
4 years ago
A company uses the weighted average method for inventory costing. During a period, Department B finished and transferred 67,000
s2008m [1.1K]

Answer:

78,100 units

Explanation:

Calculation for the number of equivalent units produced by Department B

Using this formula

Department B Number of equivalent units =

Units finished and transferred from Department B to Department C + (Units that were started in Department B × Percentage completed)

Let plug in the formula

Department B Number of equivalent units= 67,000 units + (18,500 units × 60%)

Department B Number of equivalent units= 67,000 units + 11,100 units

Department B Number of equivalent units= 78,100 units

Therefore The number of equivalent units produced by Department B during the period was 78,100 units

3 0
3 years ago
If Ralph has $2,900 in stable gross monthly income, what is the maximum total debt allowed for Ralph by conventional lenders
dezoksy [38]

Based on Raph's stable gross monthly income, the maximum total debt allowed per month is<u> $1,044</u>

Most conventional lenders prefer to lend to a person whose debt to income ratio is 36% and below.

Ralph's maximum debt allowed is therefore:

<em>= Debt to income ratio x Stable gross income </em>

= 36% x 2,900

= $1,044

In conclusion, Ralph's maximum debt is $1,044

Find out more about debt to income ratio at brainly.com/question/24814852.

8 0
2 years ago
Which best explains what happens to the money that a consumer deposits into a bank account? The bank saves some of the money for
Nina [5.8K]

Answer: The bank reserves part of the money and uses the rest to make loans to other people who need them.

Explanation: money doesn't just sit in the banks. the money will still there but some will be used by the banks for other loans and interests.

(i also took the test so this is most likely correct)

hope it goes well!

6 0
3 years ago
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