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laiz [17]
4 years ago
6

Which is a feature of a perfectly competitive market?

Business
1 answer:
levacccp [35]4 years ago
8 0

Answer: products are standardized or homogeneous

Explanation:

 Products are standardized or homogeneous for the perfectly competitive market as, in the case of the competitive industry there are no barriers in the industry to entry. The products are homogeneous in the nature and there is large numbers of the firms are perfectly substituted in the industry. So, the price elasticity of the demand for the firm product is infinite.

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What do you mean by agriculture expert??
valentinak56 [21]

Explanation:

agriculture expert a person who is expert in the field of agriculture person who knows best about the agriculture is generally known as agricultural expert

7 0
3 years ago
Each unit requires 2 pounds of direct materials, which cost $6 per pound. The company’s policy is to maintain direct materials i
ycow [4]

Answer: Budgeted Raw Material to be consumed in July.

Quantity         Price per pound             Total

10,200                 $6                             $61,200

Explanation:

As for the information provided, the material at month end in hand shall be:

20% of upcoming month's sale.

If in June at month end, the inventory in hand = 2,040 pounds of raw material.

Then, this represents 20% of total requirement of July.

Therefore, total requirement in July = \frac{2,040}{0.20} = 10,200\ pounds

This basically means:

Total inventory required =

Quantity         Price per pound             Total

10,200                 $6                             $61,200

5 0
3 years ago
Lunderville Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 3,200 units
Mila [183]

Answer:

$64,000

Explanation:

The calculation of the cash disbursements for selling and administrative expenses on the December selling and administrative expense budget is given below;

= Variable Selling & Administrative Expenses + Fixed Seliing & Administrative Expenses - Depreciation

= 3,200 units × $3.10 + $60,800 - $6,720

= $64,000

4 0
3 years ago
Measuring income inequality Every year, the U.S. Census Bureau conducts an income survey of about 60,000 American families that
adoni [48]

Answer: Census data overstate Standard of living because no cash transfer are counted as income

Explanation:

The census being carryout by the government of the united state of America through the U.S bureau is to determine the inequality in income of the 60,000 to represent the population. This data may not be accurate because money transfered are not being recorded.

8 0
3 years ago
Why do you think consistency is so important between the Loan Estimate and the Closing Disclosure?
Andrews [41]

Answer:

<u>~Senpi boi here~</u>

<u><em>I think that the consistey is so important between the Loan Estimate and the Closing Disclosure is because this can help you understand all the costs involved in getting a mortgage and make it harder for lenders to take advantage of you. And to identify any discrepancies. Also the Loan Estimate shows what you may pay. The Closing Disclosure shows what you will pay.</em></u>

(Hope this helps!)

8 0
2 years ago
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