In a perfectly competitive market, every seller takes the price of its product as set by market conditions.
<h3>
What is a Perfect Competitive Market?</h3>
Perfect competition is an ideal type of market structure where all producers and consumers have full and symmetric information and no transaction costs. There are a large number of producers and consumers competing with one another in this kind of environment.
Perfect competition is a market structure where many firms offer a homogeneous product. Because there is freedom of entry and exit and perfect information, firms will make normal profits and prices will be kept low by competitive pressures.
<h3>What are some examples of Perfectly Competitive Markets?</h3>
3 Perfect Competition Examples
- Agriculture: In this market, products are very similar. Carrots, potatoes, and grain are all generic, with many farmers producing them.
- Foreign Exchange Markets: In this market, traders exchange currencies.
- Online shopping: We may not see the internet as a distinct market.
Thus, we can say that the correct option is B.
Learn more about Perfectly Competitive Markets on:
brainly.com/question/8753703
#SPJ4
Answer: $1000
Explanation:
You didn't give the options but let me help out.
From the question, we are informed that Hi Phi Unlimited's total revenue from installing 15 sound systems is $30,000 and its total revenue from installing 18 sound systems is $33,000.
The marginal revenue that is received from selling the 18th sound system would be calculated as:
=($33000 - $30000) / (18 - 15)
= $3000 / 3
= ,$1000
Based on the relationship between the above mentioned measures, the following is true:
- Price and yield to maturity are <u>inversely </u>related.
- When YTM <u>rises</u>, the price of the bond <u>falls</u>.
<h3>What is Yield to Maturity?</h3>
- It is the discount rate on the bond.
- It shows the riskiness of the bond.
When the YTM is high, it means that the bond is more risky which leads to it having a lower price to compensate for the risk. The reverse is true.
Find out more on YTM at brainly.com/question/15172286.
Meritocracy is a system based on
a dominant ideology involving the widely shared belief that all people have an
equal chance of succeeding economically or a political philosophy stating that
power should be vested in individuals based on their hard work and skills.
Answer:
(a) INDICATOR OF FRAUD
Explanation:
The reason is that the supervisor has an outside business setup related to the department's setup which gives rise to a conflict of interest.