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3 years ago

name two different market structures describe how and why they each have a different competitive situation

2 answers:

8 0

Perfect Competition- many firms, freedom of entry, homogeneous product, normal profit
Monopoly- One firm dominates the market, barriers to entry, possibly supernormal profit.

Mkey [24]3 years ago

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Economists suppose that there are various buyers and sellers in the marketplace which means that competition is everywhere in the market which in turn allowed price to change in reaction to changes in supply and demand. In Economics, there are some market structures that describes how each structure compete in a different competitive situation. Monopoly is one. Monopoly is one of the market structures whereby there is one producer or seller which means, the industry is the single business. This market structure prohibits others from joining the market when a company has a patent or copyright. Oligopoly is another market structure where there are chosen few firms that make up an industry. Both market structures have high barrier entries where competing markets for share are interdependent as the consequence of market forces.

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Which one of the following is an irrational number?

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The irrational number is the square root of 3. (option 3).

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An irrational number is a number that cannot be expressed as the quotient of two integers. On the other hand, a rational number is a number that can be expressed as a fraction of two integers

The square root of 3 is an irrational number because it cannot be expressed as the quotient of two numbers. The square root of 3 is also known as the Theodorus' constant. It is named after Theodorus of Cyrene the person who proved its an irrational number.

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3 years ago

Seventy percent of Pluto Corporation's sales are collected in the month of sale, 20% in the month following sale, and 10% in the

yawa3891 [41]

Answer:

$275,000

Explanation:

month budgeted sales budgeted cash collections

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the total budgeted cash collections for April = ($250,000 x 70%) + ($350,000 x 20%) + ($300,000 x 10%) = $175,000 + $70,000 + $30,000 = $275,000

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