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fenix001 [56]
3 years ago
14

The market for corn in Brazil has a large number of sellers and there is no difference in the products sold by each seller. As t

here are also a large number of buyers for corn, the actions of a single seller or buyer cannot affect the price. The market for corn in Brazil can be described as ____.
a. monopolistic competition
b. pure competition
c. an oligopoly
d. a monopoly
e. modified competition
Business
1 answer:
LenaWriter [7]3 years ago
8 0

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

 

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A company's gross profit was $118,350 and its net sales were $466,300. its gross margin ratio equals:
ladessa [460]

The gross margin ratio is a percentage resulting from dividing the amount of a company's gross profit by the amount of its net sales. In this case it would be 118,350/466,300 = 25.38%

3 0
2 years ago
What is the difference between patronage and the merit principle?
alexdok [17]
Patronage principle based its hiring and promotion system on political reasons while the merit principle employed the idea that hiring should be based on entrance examination and promotion. One of the major disadvantage of the patronage principle is that, it may end up employing people who are not qualify for the job. Merit principle choose based on qualifications. 
5 0
3 years ago
A useful way of standardizing financial statements is to choose a _______ year and then express each item relative to that amoun
liberstina [14]

A useful way of standardizing financial statements is to choose a base year and then express each item relative to that amount.

Below, this is further discussed.

<h3>Financial statements: What are they?</h3>

Financial statements, in general, are official records of the financial activity and condition of a company, an individual, or another organization. Structured and simple-to-comprehend presentations of pertinent financial data are made.

In summary, Selecting a base year and then expressing each item according to that sum is a helpful method for standardizing financial reporting.

Explore more about Financial statements

brainly.com/question/14951563

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6 0
1 year ago
Brandon wants to purchase new furniture for his home but does not want his purchases to put him into debt. Brandon loves being s
aleksley [76]

Answer: Augmenting his income.

Explanation: Extra work means having an official fixed job and, in addition, after working hours, or in your free time (such as weekends), you dedicate yourself to other activities that can also generate income. Unlike what some people think, extra work does not need to be something completely different from what you usually do. Of course you can choose to formalize your hobby and earn money with it, but these tasks can also happen in other conventional work.

7 0
3 years ago
Sheffield Corp. purchased machinery for $381,150 on January 1, 2018. It is estimated that it will have a useful life of 10 years
aniked [119]

Answer:

Accumulated depreciation balance on 31 December 2019 = $73,326

Explanation:

Total Cost of the machine = $381,150

Salvage value = $18,150

Therefore value to be depreciated = $381,150 - $18,150 = $363,000

Life of asset = 10 years.

Units to be produced = 290,400

Working hours = 25,000

Under the units of output activity method the asset shall be depreciated based on output, but here the output of machinery is 25,000 hours in its life thus, depreciation shall be charged based on number of hours and not on units.

Therefore accumulated depreciation on December 31 2019 shall be based on total hours of 2018 and 2019

= 2,650 + 2,400 = 5,050 hours

Depreciation = \frac{363,000}{25,000} \times 5,050 = $73,326

Accumulated depreciation balance on 31 December 2019 = $73,326

5 0
3 years ago
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