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chubhunter [2.5K]
3 years ago
10

Why do purely competitive markets tend to benefit consumers over producers? Companies control quality and supply. Companies work

together to set prices favorable to consumers. Competition is driven by factors other than price. Consumers control price through demand.
Mathematics
2 answers:
Alina [70]3 years ago
5 0

Answer;

-Consumers control price through demand.

Purely competitive markets tend to benefit consumers over producers because consumers control price through demand.

Explanation;

-In a purely competitive market, there are large numbers of firms producing a standardized product. The market prices are determined by consumer demand; suppliers have no influence over the market price, and thus, the suppliers are often referred to as price takers.

Tom [10]3 years ago
3 0
In general, purely competitive markets tend to benefit consumers over producers because "<span>Consumers control price through demand". Although perfect competition is practically impossible. </span>
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Each of them need to work 105 minutes more in order to have packed the same number of boxes.

<u><em>Explanation</em></u>

Suppose, they need to work for x minutes more in order to have packed the same number of boxes.

Selma packs one box in 5 minutes and Trudy packs one box in 7 minutes.

So, the number of boxes packed by Selma in that x minutes =\frac{x}{5} and the number of boxes packed by Trudy in x minutes =\frac{x}{7}

Given that, Selma and Trudy have already packed 12 and 18 boxes.

Now if <u>each of them packed the same number of boxes</u>, then the equation will be......

12+\frac{x}{5}=18+\frac{x}{7}\\ \\ \frac{x}{5}-\frac{x}{7}= 18-12\\ \\ \frac{7x-5x}{35}=6\\ \\ \frac{2x}{35}=6\\ \\ 2x= 210\\ \\ x= \frac{210}{2}=105

So, each of them need to work 105 minutes more in order to have packed the same number of boxes.

6 0
3 years ago
What is the answer to this question?<br> Y=x^2-1 with the input as 5
mixas84 [53]

We can see that, when the input is 5, the output is 24.

<h3>How to evaluate an equation?</h3>

Here we have the equation:

y = x^2 - 1

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Then we can see that, when the input is 5, the output is 24.

If you want to learn more about evaluating functions:

brainly.com/question/1719822

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In the space at the right, draw a triangle : Use an algebraic expression to label the length of each side. Write an expression f
mezya [45]
Not sure I am so sorry I will look more
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a sphere is circumscribed about an 8-inch by 8-inch by 8-inch cube. Find the volume to the nearest cubic inch.
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3 years ago
Average precipitation for the first 7 months of the year, the average precipitation in toledo, ohio, is 19.32 inches. if the ave
Colt1911 [192]
Part A:

The probability that a normally distributed data with a mean, μ and standard deviation, σ is greater than a given value, a is given by:

P(x\ \textgreater \ a)=1-P(x\ \textless \ a)=1-P\left(z\ \textless \  \frac{a-\mu}{\sigma}\right)

Given that the average precipitation in Toledo, Ohio for the past 7 months is 19.32 inches with a standard deviation of 2.44 inches, the probability that <span>a randomly selected year will have precipitation greater than 18 inches for the first 7 months is given by:

P(x\ \textgreater \ 18)=1-P(x\ \textless \ 18) \\  \\ =1-P\left(z\ \textless \ \frac{18-19.32}{2.44}\right) \\  \\ =1-P(z\ \textless \ -0.5410) \\  \\ =1-0.29426=\bold{0.7057}



Part B:

</span>The probability that an n randomly selected samples of a normally distributed data with a mean, μ and standard deviation, σ is greater than a given value, a is given by:

P(x\ \textgreater \ a)=1-P(x\ \textless \ a)=1-P\left(z\ \textless \ \frac{a-\mu}{\frac{\sigma}{\sqrt{n}}}\right)

Given that the average precipitation in Toledo, Ohio for the past 7 months is 19.32 inches with a standard deviation of 2.44 inches, the probability that <span>5 randomly selected years will have precipitation greater than 18 inches for the first 7 months is given by:

</span>P(x\ \textgreater \ 18)=1-P(x\ \textless \ 18) \\ \\ =1-P\left(z\ \textless \ \frac{18-19.32}{\frac{2.44}{\sqrt{5}}}\right) \\ \\ =1-P(z\ \textless \ -1.210) \\ \\ =1-0.1132=\bold{0.8868}
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3 years ago
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