1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Hoochie [10]
3 years ago
8

The model of competitive markets relies on these three core assumptions:

Business
1 answer:
Vesnalui [34]3 years ago
7 0

Answer:

The three scenarios describe a competitive market.

Explanation:

1) In the competitive market buyers and sellers are price takers, this means that there are many producers and consumers and none of them are able to intervene in price and market. Price is given, ie price is determined by interaction in the market. 2) The products are identical. That is, no company will make a profit due to differentiated products. In perfect competition, companies produce identical products, and the consumer is indifferent to the product characteristics of each company. 3) There is free entry and exit of companies and factors of production, ie there is no cost to enter and exit any sector. This means that factors can migrate from one sector to another without incurring costs, meaning there are no barriers to entry and exit from any sector.

Thus, from items 1 and 2, consumers and buyers are price takers, that is, they cannot influence the price determined by the market. Item 3 is about achieving zero profit or normal long-term profit. This is because the free entry and exit of companies avoids extraordinary profits by encouraging companies to migrate to sectors that earn higher profits in the short term. Thus, in perfect competition, compa

You might be interested in
A stock's price fluctuations are approximately normally distributed with a mean of $104.50 and a standard deviation of $23.62. Y
denpristay [2]

Answer:

$ 74.23

Explanation:

We are given the following:

mean, μ = $ 104.50

standard deviation, σ = $ 23.62

Using the z-score table, we have

P(Z < z) = 10%  (since we are evaluating lowest 10% of values)

hence P(Z < z) = 0.10

P(Z < -1.282 ) = 0.10

z = -1.282  (this evaluates to 0.1 on the z-score table)

Using z-score formula,

x = z *σ + μ

substituting the values,

x =- - 1.282 * 23.62 + 104.50

= 74.23

The most for the stock is $ 74.23

6 0
3 years ago
in 2022, denise has two children who are qualifying persons for the child and dependent care credit, ethan and jeffrey. ethan ha
ss7ja [257]

In 2022, Denise has two children who are qualifying persons for the child and dependent care credit, Ethan and Jeffrey. Ethan has $9,000 in dependent care expenses, and Jeffrey has none. assuming all other tests are met, up to $8,000 of expenses is credited based on.

A federal tax break known as the Child and Dependent Care Credit assists families in paying for childcare costs incurred while working or looking for jobs. Families that are required to pay for the care of an adult dependant or a spouse who is disabled may also be eligible for the credit.

The child and dependent care credit aid you in paying for the upkeep of any dependents that qualify (aka "qualifying persons").

Your income and a portion of the costs you expend for the care of a qualifying individual while you work or look for a job are used to determine how much of a credit you are eligible for.

You can deduct costs for babysitters, day camps, and before- and after-school activities in addition to childcare.

The credit became considerably more generous and may be refundable as a result of the American Rescue Plan Act of 2021.

Learn more about care credit here:

brainly.com/question/18801773

#SPJ4

6 0
2 years ago
In a barter system, a baker is MOST LIKELY to A) earn money from creating bread. B) buy wheat from a farmer. C) sell bread to a
Archy [21]

Barter means exchange since there was no currency back then so the answer  would be D.

3 0
3 years ago
Read 2 more answers
__________This import tax was meant to replace the earlier "Tariff of Abominations", but it was widely disliked by southern merc
mrs_skeptik [129]

Answer:

Tariff of 1832

Explanation:

The Tariff of 1832 was enacted to replace the 1828 import tariffs commonly known as Tariffs of Abomination. Most southern states did not like it, but its greatest opposition came from South Carolina since its economy depended greatly in foreign trade. Back then America's largest export was cotton produced by southern states.

Due to South Carolina's extreme opposition, it was replaced by the Compromise Tariff of 1833. This last tariff would gradually decrease the tax rates until they fell back to 1816 levels, which was approximately 20%.

The Nullification Crisis refers to a legal process carried out in South Carolina that determined that federal taxes, specifically import tariffs were unconstitutional and shouldn't apply to them. The problem is that the Supreme Court decides what is unconstitutional or not, not a state court.

7 0
3 years ago
It is likely that airplane tickets will be increased by 5% each year for the next four years. The cost of the plane ticket to De
Luba_88 [7]

Answer:

The amount to save now is = $862.03 (to 2 decimal places)

Explanation:

In order to solve this, we will compute the end-of-year amounts using the 5% increase each year. This is done as follows:

Year 1 ending = $200

Year 2:

Year 2 beginning price = $200

Note that 5% increase = 5/100 = 0.05

increase in year 2 = 5% of 200 = 0.05 × 200 = 10

Year 2 new price = 200 + 10 = $210

Year 3:

beginning price = $210

increase in year 3 = 0.05 × 210 = $10.5

Year 3 new price = 210 + 10.5 = $220.5

Year 4

beginning price = $220.5

interest in year 4 = 0.05 × 220.5 = 11.025

new price in year 4 = 220.5 + 11.025 = $231.525

Next to calculate the amount needed to pay for one travel ticket per year for the next four years, we will add the prices of the tickets each year as follows:

Total amounts needed = 200 +210 + 220.50 + 231.53 = $862.03

5 0
3 years ago
Other questions:
  • All else equal, a firm would prefer to have a higher gross margin. <br> a. True <br> b. False
    12·1 answer
  • On May 3, 2014, Eisler Company consigned 80 freezers, costing $500 each, to Remmers Company. The cost of shipping the freezers a
    15·1 answer
  • Tile Depot, specializing in retail of construction materials, carries a popular flooring tile. The annual demand is estimated to
    5·1 answer
  • Manufacturers realize that their clothes might be soiled when people are trying them on in the stores; therefore it's not necess
    7·2 answers
  • An auditor observed that a client mails monthly statements to customers. Subsequently, the auditor reviewed evidence of follow-u
    7·1 answer
  • If more people try to buy a product because the price has been reduced, what has been increased?
    14·1 answer
  • A student remarks:
    15·1 answer
  • Suppose that 2 years after the issue date (as in Part a) interest rates fell to 8%. Suppose further that the interest rate remai
    12·1 answer
  • Ayayai Corp. redeemed $158,000 face value, 12% bonds on April 30, 2022, at 102. The carrying value of the bonds at the redemptio
    7·1 answer
  • La factura debe tener preimpreso la denominación
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!