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laila [671]
3 years ago
7

What assumptions are necessary for a market to be perfectly​ competitive? In light of what you have learned in this​ chapter, wh

y is each of these assumptions​ important? For a market to be perfectly​ competitive, A. firms must be price​ takers, firms must produce a homogeneous​ product, and firms must be able to easily enter and exit the market. B. firms must have market​ power, firms must produce a differentiated​ product, and firms must be able to easily enter and exit the market. C. only one firm can have access to a key​ input, the government must regulate entry of new​ firms, and the​ long-run average cost of production must be decreasing. D. only one firm can produce​ output, no close substitutes may​ exist, and firms must not be able to enter the market. E. only a few firms may produce​ output, firms must have market​ power, and firms must produce a homogenous product.
Business
2 answers:
Sergio [31]3 years ago
8 0

Answer:

Option A and B is applicable for a market to be perfectly​ competitive, A. firms must be price​ takers, firms must produce a homogeneous​ product, and firms must be able to easily enter and exit the market. B. firms must have market​ power, firms must produce a differentiated​ product, and firms must be able to easily enter and exit the market.  

Explanation:

Perfect competition refers to the situation prevailing in a market in which buyers and sellers are in abundance and well informed that all elements of monopoly are non existent and the market price of a commodity is beyond the control of individual buyers and sellers.

For firm to attain perfect competition, certain conditions must be met. Here is a few to begin with.

  • There are many buyers and sellers in the market.
  • Each company makes a similar product.
  • Buyers and sellers have access to perfect information about price.
  • There are no transaction costs.
  • There are no barriers to entry into or exit from the market.

From the foregoing, option A and B are satisfactory assumptions for perfect competition.

zzz [600]3 years ago
7 0

Answer: A

Firms must be price​ takers, firms must produce a homogeneous​ product, and firms must be able to easily enter and exit the market

Explanation:

A perfectly competitive market is a market in there are many sellers of a single homogeneous goods, many buyers, abundance of information about product, free entry and exit at any point and no transaction cost. None of the (selling) firms is big enough to determine the market price. A perfectly competitive market totally follows the law of demand and supply.

Total revenue for a firm in a perfectly competitive market is the function of product price and quantity (TR = P * Q).

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<span>the key to bowsight is to practice judging distance accurately. The shooter can keep both the eyes open while aiming. Its more versatile and takes longer time to become perfect.</span>
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3 years ago
Gina Robinson, Inc. (GRI) GRI management has decided to reinvent the culture of the organization. Previously, the company tried
Nuetrik [128]

Answer:

C) Telecommuting

Explanation:

Telecommuting simply means working from your home. The internet changed our lives completely, and it is also how we work. Everyday more people are starting to work from distant locations to their "main office". This means that they can be working at their house using a computer which is connected to the company's intranet.

Some of the advantages of telecommuting is that it increases efficiency by decreasing costs (you don't have to spend time going to work and you can have your office at home), reducing employee churn rate, allowing older or disabled people to work, it is good for your health, and around 65% of telecommuters in the US have have increased their work efficiency vs. their normal office work.

7 0
3 years ago
A specialist in the HR department is invited to promote the cybersecurity program in community schools. Which three topics would
vitfil [10]

Answer:

The answer is below

Explanation:

In a given situation like the one presented in the question, it is believed and expected that three topics in which the Human Resources specialist in the area of the cybersecurity program, would emphasize in the presentation to draw students to this field are the following:

1. It has a high earning potential

2. it is a career field in high demand

3. It is a service to humanity

4 0
3 years ago
What does the communication technique "slow down and be patient" mean
vladimir2022 [97]

Answer:

Slow your speech so the person has time to think about each word you say.

Explanation:

These are the options for the question

Avoid looking at your watch when giving care. Slow your speech so the person has time to think about each word you say. Slow your body movements and wait as long as it takes for the person with dementia to respond.

Communication technique are ways of passing information from one person to another, the communication technique "slow down and be patient" symbolized that when you are making a speech, you need to Slow your speech so the person has time to think about each word you say, and a he/she will be able to give the necessary response or act accordingly to the speech.

7 0
3 years ago
Khrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning
zloy xaker [14]

Answer: A.) $32.64 per machine hour

Explanation:

Given the following :

Estimated machine hours = 41,000 machine hours

Estimated variable manufacturing overhead = $4.16 per machine hour

Estimated total fixed manufacturing overhead = $1,167,680

Total Estimated manufacturing overhead :

(Estimated total variable manufacturing overhead + Estimated total fixed manufacturing overhead)

Estimated total variable manufacturing overhead:

$4.16 × estimated hours

= $4.16 × 41,000

= $170560

Total Estimated manufacturing overhead :

$170560 + $1,167,680 = $1338240

Hence,

Predetermined overhead rate :

Total Estimated manufacturing overhead / estimated hours

= $1338240 / 41000

=$32.64

4 0
3 years ago
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