Answer:
Some sellers can set prices
Explanation:
Characteristics of competitive firms:
1. All sellers are price takers. No seller can influence market price.
2. All buyers are price takers
3. Forces of demand and supply determine market price.
4. All products are homogenous
5. There are no barriers to entry or exist of firms
6. There is perfect information
Answer:
Total direct labor cost= $122,752
Explanation:
Giving the following information:
Each unit of output requires 0.77 direct labor-hours.
The direct labor rate is $11.20 per direct labor-hour.
Production budget:
October= 7,100 units
November= 6,900 units
Minimum hours= 5,480 hours
First, we need to determine the number of hours required for each month.
October= 7,100*0.77= 5,467 hours
November= 6,900*0.77= 5,313 hours
Direct labor budget:
October= 5,480*11.2= 61,376
November= 61,736
Total cost= $122,752
Answer:
The importer accepts this price, so his bank will debit the importer's account in the amount of $500,000.
A. debit, $500,000
Explanation:
Bank debit is a bookkeeping term for realization of the reduction of deposits held by bank customers. A bank debit occurs when a bank customer uses the funds in their account, therefore reducing their account balance.
Euros 512100
dólar 1 1,0242 euros
x 512100 euros
x= 500.000
The bundle that is going to maximize profit is going to be Late
<h3>How to find the bundle that would maximize profit</h3>
we have the net profit from early to be 7 + 5 = 12
We have the net profit from late to 6 + 10 = 16
We can see that the value for late is greater at 16 compared to that of the early.
Hence we can say that late has the greatest profit.
Next we have to solve for the profit that is made. This is the net profit.
The solution is given as 16 - 12 = 4
<h3>What is profit maximization</h3>
This is the process where by businesses would try to get the best output possible from the given inputs that they would use in the business. It goal is to be able to maximize the returns that they would make.
Read more on profit maximization here:
brainly.com/question/13464288
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Depends on what you are trying to fix
