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pav-90 [236]
3 years ago
5

In a perfectly competitive market, all producers sell identical goods or services. Additionally, there are many buyers and selle

rs. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price takers.
True or False?
Business
1 answer:
V125BC [204]3 years ago
7 0

Answer:

True

Explanation:

In a perfectly competitive market, all producers sell identical goods or services. Additionally, there are many buyers and sellers. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price takers. Market price is set by the forces of demand and supply.

If the seller attempts to set his own price and sets it above the market price, the seller would lose all its customers and make zero sales.

If the seller attempts to set his own price and sets it below the market price, the seller would make losses .

I hope my answer helps you.

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A local university has a student population that is 55% male. 60% of students are undergraduates. 38% are both male and undergra
Mandarinka [93]

The probability that a randomly selected student is female and an undergraduate = 37%

The probability of being female or an undergraduate= 1.05

<h3>The male students</h3>

The male population = 55%

Therefore female population would be 1 - 0.55 = 45%

<u>Undergraduates</u> = 60%

The male undergraduate = 38%

Therefore female undergraduates = 60%-38%

= 22%

a. The probability that a randomly selected student is an undergraduate and female

= \frac{0.22}{0.60}

= 37%

B. The probability that the student is female or undergraduate

P(A or B)

= Probability of female = 45/100

Probability of undergraduate = 60/100

= 0.45 + 0.60

= 1.05

Read more on probability here:

brainly.com/question/25870256

4 0
2 years ago
disposable income (billions of dollars per year) total consumption (billions of dollars per year) $ 0 $ 50 200 210(table 9.1) wh
katovenus [111]

C = 50 + 0.8Y is the consumption function that is consistent with the provided data. The MPC is determined by subtracting the change in consumption from the change in disposable income, which equals 160/200, or 0.8.

Marginal propensity calculation.

$200 billion less $0 billion equals $200 billion in changes to disposable income.

Consumption change equals $210 minus $50, or $160 billion.

MPC = Change in Consumption/Change in Disposable Income, which equals $160 billion/$200 billion and is equal to 0.8.

There is a 0.8 marginal tendency to consume.

Step 2

This is how consumption function is defined.

C = a + bY

Where,

a = Consumption at zero income level

b = MPC

In given case,

$50 billion would be consumed at a level of income zero.

MPC is 0.8

So,

C = 50 + 0.8Y is the consumption function that matches the provided data.

To learn more about consumption function

brainly.com/question/14975005

#SPJ4

4 0
1 year ago
In some games, one player or firm moves first and commits to a strategy to which the rival player or firm will subsequently resp
Leni [432]

Answer:

C. sequential games.

Explanation:

Game theory is the learning of analytical types of mediation, ambivalence, and interaction between people, corporations, and governments. In-game theory, a sequential game means any game where an individual contestant picks their move before rest of the performers pick theirs. Importantly, the following performer's necessity has fascinating erudition regarding the first's selection, contrarily, the variation in period would have no strategic effect.

8 0
3 years ago
Selected Balance Sheet Information
goldenfox [79]

Answer:

$47,000

Explanation:

Computation for the net cash flows from operating activities using the indirect method.

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income $28,000

Adjustments to reconcile net income to

Net cash provided by operating activities

Depreciation expense $15,000

Increase in Accounts Receivable -$2,500 ($8,000-$10,500)

Decrease in inventory $3,000

($21,000-$18,000)

Increase in accounts payable $5,000

(15000-10000)

Decrease in income taxes payable -$1,500 ($1,000-$2,500)

Net cash flows from operating activities $47,000

Therefore the net cash flows from operating activities using the indirect method is $47,000

5 0
3 years ago
Which of the following would be considered an assurance engagement?
yarga [219]

Answer: Option (E)

Explanation:

Assurance engagement tends to refer or mean that an engagement, under which an individual or practitioner tends to express a conclusion, that is designed in order to enhance the level or degree of confidence of user or the intended user, apart from the responsible individual about the result or outcome of measurement or evaluation of the subject matter against the stated criteria.

5 0
3 years ago
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