All categories

4 years ago

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.

You might be interested in

The ABC Company is planning a new product line and will build a new plant to manufacture the parts for a new product line. The p

NikAS [45]

Answer:

a. Number of production operations = 120,000,000 per year.

b. Number of Workers = 1,000 workers.

C. Size = 250,000 ft²

Explanation:

Number of production operations is calculated as;

50 models * 1000 units * 400 components * 6 steps

Number of production operations = 120,000,000 per year.

Number of workers is calculated as;

Total operation time ÷ factory operating hours per year;

Factory Operating Hours = 2000.

Calculating total operation time;

= 120,000,000 * 1hr/60min

= 2,000,000 hr/yr

So. Number of workers = 2,000,000 ÷ 2,000

Number of Workers = 1,000 workers.

c. Size of floorspace

Size = Number of workstations * floorspace

Number of workstations = number of workers = 1000

Floorspace = 250ft²

Size = 1000 * 250

Size = 250,000 ft²

3 0

3 years ago

Horizontal integration differs from vertical integration in that it

Nadusha1986 [10]

Horizontal integration differs from vertical integration in that it consolidates many firms involved in the same business into one giant company (C). Horizontal integration occurs when one company purchases similar companies doing the same things at the same level of production to gain a greater share of the market for that level of production.

6 0

3 years ago

Read 2 more answers

Development lp is a limited partnership that invests in residential real estate projects. Its limited partners include more than

FrozenT [24]

Ethan loses his limited liability if he participates in the firm’s management.

<h3>Who is a Limited Partner?</h3>

A limited partner can be described as a part-owner of a limited partnership business who does not involve in the management of the partnership business.

The liability for the company's debts of a limited partner is limited to the amount invested in the business.

Limited partners are frequently referred to as "silent partners."

A limited partner is different from a general partner.

A general partner refers to a partner that is in charge of the day-to-day operations of the company, takes investment decisions on behalf of the company, and has unlimited liability for the company's debts and liabilities.

Therefore, Ethan will lose his limited liability if he participates in the firm’s management as he has become a general partner.

Learn more about limited partnership here: brainly.com/question/9244934.

8 0

2 years ago

What is the definition of a growth stock?

sergeinik [125]

Answer:

In finance, a growth stock is a stock of a company that generates substantial and sustainable positive cash flow and whose revenues and earnings are expected to increase at a faster rate than the average company within the same industry.

Explanation:

3 0

3 years ago

The value-added method involves taking the cost of intermediate outputs (i.e., outputs that will, in turn, be used in the produc

Tanzania [10]

Answer:

the only difference is that the value added method adds up production in the economy as it is produced, and the standard method of counting only used the completed value at the end of the production chain.

Explanation:

The value added method in the production process aims to measure the value added at each stage of production considering intermediate products as input.

For example if plastic is produced in a plant and it is in turn used to produce plates. Value added at stage of plate production is the value of plates less cost of producing plastic.

The standard method counts only value of final goods and services.

Both methods give the same result because summation of value in the value added approach will be the same as the value at the end of the production chain (standard method).

8 0

3 years ago