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
Ainat [17]
3 years ago
14

Price in a perfectly competitive industry: Select one:_____

Business
1 answer:
lapo4ka [179]3 years ago
4 0

Answer:

The correct answer is option b.

Explanation:

In a perfectly competitive market or industry, the firms are price takers. The price is determined by the market forces of demand and supply. The individual firms will face a horizontal line demand curve.  

This horizontal line represents the demand curve, price line, average revenue, and marginal revenue. The profit is maximized when the marginal cost and marginal revenue is equal to price.

You might be interested in
If a manufacturing process takes 4 hours per unit of x and 2 hours per unit of y and a maximum of 100 hours of manufacturing pro
lilavasa [31]

Answer:

The algebraic formulation of the constraint is 4X+2Y ≤ 100

Explanation:

The algebraic formulation of the constraint is shown below:

Given that

The number of hours taken per unit of x is 4 hours

And the number of hours taken per unit of x is 2 hours

And, the maximum hours available is 100

Now based on the above information

The  algebraic formulation of the constraint is

= 4X+2Y ≤ 100

hence, the same is to be considered

6 0
3 years ago
Suppose the price elasticity of demand for oranges is 0.8. if a fall frost destroys one-third of the nation's orange crop, how w
Tresset [83]
<span>Total revenue from oranges will fall. Notice that the question assumes everything else unchanged. This means that even though the quantity has been reduced by the frost, the price is unchanged. Thus all producers are selling fewer oranges at the same price. It logically follows that total revenue will fall.</span>
3 0
3 years ago
Real per capita gross domestic product (GDP) is higher in the United States than in Bangladesh. Based on that, we could predict
Vinil7 [7]

Answer:

b. adult literacy; infant mortality

Explanation:

Multiple choice <em>"life expectancy; internet usage ; adult literacy; infant mortality ; infant mortality; adult literacy ; access to clean water; life expectancy"</em>

<em />

Higher real GDP per capita would imply higher literacy rate and at the same time lower infant mortality as citizens would invest more in health and education. All the other options are wrong as higher real GDP per capita cannot lead to lower life expectancy or literacy rate.

4 0
3 years ago
"when johanna cut prices in her jewelry store by 20 percent, the dollar value of her sales fell by 20 percent. this indicates th
anzhelika [568]
How much ever percent she cuts so will the value of her sales
3 0
4 years ago
Which practice is in accordance with US GAAP? A. A company values assets at their market value. B. A company recognizes expenses
neonofarm [45]

The correct answer is choice B.

Choice B, a company recognizes expenses when they incur them, is the only choice which is in accordance with US Generally Accepted Accounting Principals. All of the other options are against GAAP.

7 0
3 years ago
Read 2 more answers
Other questions:
  • The following selected accounts from the Bramble Corp.’s general ledger are presented below for the year ended December 31, 2022
    12·1 answer
  • What is the fourth part to property rights?
    10·1 answer
  • e−Bay Inc. provides the following information for the year​ 2015: Net income ​$250,000 Market price per share of common stock ​$
    6·1 answer
  • Suppose the dollar appreciates relative to foreign currencies. If U.S. firms have domestic content below 100%, the harm to domes
    6·1 answer
  • Monica, 22 just started working full time and plans to deposit $3,000 annually into a roth ira earning 12 percent interest compo
    12·1 answer
  • A company can expect to receive which of the following benefits when it uses a budgeting​ process? A. The budget helps motivate
    14·1 answer
  • _____ involves a type of quantitative research that systematically manipulates one or more variables to determine which variable
    13·1 answer
  • A firm presents a market value balance sheet and a book value balance sheet to prospective investors. What is wrong with using t
    5·1 answer
  • The May transactions of Hanschu Corporation were as follows.
    11·1 answer
  • according to age-earnings data, group of answer choices high earnings are due to motivation and innate ability, rather than educ
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!