Answer:
Option (b) is correct.
Explanation:
In a market condition of pure competition, there are large number of buyers and sellers of the product. The sellers in this market condition are behaving like a price taker.
If a single firm wants to increase the price of the product then as a result the demand for their product is reduced or become zero.
There are some characterstics of the firms under pure competition market condition:
(i) They are selling homogeneous products.
(ii) Price taker firms
(iii) Large no. of buyers and sellers
Answer:
b. Net Purchases + beginning inventory - ending inventory.
Explanation:
The formula to compute the cost of goods sold is shown below:
Cost of good sold = Beginning inventory + net purchase - ending inventory
We simply added the net purchase and deduct the ending inventory to the beginning inventory so that the correct value can be determined
It records that cost which is directly related to the product that means it excludes the indirect cost
Answer:
Rational Motive
Explanation:
A rational motive is the willingness to make an action based on logical and rational criteria
A licensee who assists one or more parties through a transaction without being an agent for any party to the transaction is a <u>Statutory broker.</u>
<h3>What is a Statutory broker?</h3><h3 />
A statutory broker refers to a broker or a salesperson that is able to assist the parties in a transaction even though they are not an agent for either of the parties in the transaction.
Statutory brokers have regulations that they must follow however and in certain states, they need to be residents of a state.
Find out more on brokers at brainly.com/question/17085854
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When economists refer to "demand," they are speaking of<u> a schedule of amounts of a product that buyers would purchase at alternative prices in a given time period.</u>
