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
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

 

You might be interested in
Henry bakes loaves of bread, which he sells for $4 each. He is considering purchasing additional mixers (capital) for his bakery
babunello [35]

Answer: The complete table is as follows:

Explanation:

The following are the formulas for calculating marginal product , total revenue and marginal revenue product:

Marginal product = \frac{Change\ in\ Total\ Product}{Change\ in\ Capital}

Total revenue = Price × Quantity

Marginal revenue Product = Marginal product × Price

By using these formulas, I have completed the following table:

6 0
3 years ago
Which statement regarding competitive advantages is true? Select one: a. With an overall cost leadership strategy, firms need no
kifflom [539]

Answer:

Letter b is correct.<u> If several competitors pursue similar differentiation tactics, they may all be perceived as equals in the mind of the consumer.</u>

Explanation:

This statement is the most appropriate to answer this question about competitive advantages, because a competitive advantage can be described as a certain advantage that an organization has in relation to its competitors. Some of these advantages may be greater access to raw materials, more qualified labor, barriers to entry, geographic location, differentiation of products and services, etc.

Therefore, when several competitors adopt similar differentiation tactics, the consumer does not have enough attributes to differentiate one brand from another, so all competitors can be perceived as equal in the consumer's mind.

6 0
3 years ago
in a class of p student the average mark is n and in another class of q student the average mark is n. calculate the average mar
lesantik [10]

Answer: The average mark is n.

Explanation: The average mark is a average of averages. The average mark of class of p student is n, and q student is n, so n+n/2= 2n/2=n.

4 0
3 years ago
Which of the following stream characteristics most directly affects stream depositions?
andreev551 [17]

which of the following stream characteristics most directly affects stream depositions?

Answer:

<em>Gradient </em>

8 0
3 years ago
Read 2 more answers
A company developed the following per-unit standards for its product: 2 gallons of direct materials at $8 per gallon. Last month
Radda [10]

Answer:

$880 favorable

Explanation:

The computation of direct materials price variance for last month is shown below:-

Direct material price variance = Actual quantity × (Standard price - Actual price)

= 2,200 × ($8 - ($16,720 ÷ 2,200)

= 2,200 × ($8 - 7.6)

= 2,200 × $0.4

= $880 Favorable

Therefore for computing the direct materials price variance for last month we simply applied the above formula.

4 0
3 years ago
Other questions:
  • When brad john talks about the fact that he is going to have to create different financial plans depending on the amount of busi
    15·1 answer
  • An insurance policy written after 1988 that fails to pass the seven-pay test is known as
    14·1 answer
  • If a producer expected the price of a product to go up ,why would they withhold some of the supply ?Plz Help Me l need ?
    9·1 answer
  • Unions contribute to
    10·1 answer
  • Which level(s) of government both receive and distribute intergovernmental revenues?
    8·2 answers
  • Although the lines are blurring, the "many-to-many" media transmission function is largely the domain of ___.
    5·1 answer
  • Suppose that you open a mutual fund account with a deposit of 500 dollars. 5 months later, the fund balance is 600 dollars, and
    15·1 answer
  • A corporate culture is generally defined as the
    8·1 answer
  • Budgeted material-handling costs are $50,000. The material-handling cost per wall mirror under ABC is: $2,000. $1,000.
    13·1 answer
  • Cholula hot sauce, a mexican made chili-based sauce brand, is introducing a new hot sauce flavor and wants to use its owners’ un
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!