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Liono4ka [1.6K]
2 years ago
11

1. In a pure competition market, producers should produce and sell where P=MC. Why? Why couldn’t they price their product above

MC or wherever they want? Explain your reasons.
Business
1 answer:
Travka [436]2 years ago
5 0
In a pure competition market, all products that being sold in that market is EXACTLY the same. None is worse and none is better.

In that condition, Buyers will make their decision based on price ( since all product's quality is possible)

That's why producers should sell where p=MC, which mean they should sell in the lowest price possible to be able to compete with other competitors
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Assume Ireland and Mali can both produce grain and dates, and that the only limited resource is the farming labor force, meaning
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Answer:

a. Which country has the absolute advantage in producing dates?

Mali

b. Which country has the absolute advantage in producing grain?

None

c. Which country has the competitive advantage in producing dates?

Mali

d. Which country has the comparative advantage in producing grain?

Ireland

Explanation:

Opportunity cost of producing dates:

Ireland = 10 / 5 = 2 tons of grains

Mali = 10 / 25 = 0.4 tons of grains

Opportunity cost of producing grains:

Ireland = 5 / 10 = 0.5 tons of dates

Mali = 25 / 10 = 2.5 tons of dates

7 0
2 years ago
QS 6-4 Perpetual: Inventory costing with FIFO LO P1 A company reports the following beginning inventory and two purchases for th
pogonyaev

Answer:

$544

Explanation:

LIFO means last in first out. It means it's the last purchased inventory that is the first to be sold.

The cost of the 250 units sold would be first deducted from the inventory purchased on the 25th

= 100 × 2.34 = $234

That leaves 250 - 100 = 150 units.

The cost of goods sold would be next allotted to the inventory purchased on the 9th

= 50 × 2.20 = $110

This leaves 150 - 50 = 100

The cost of the 100 would be alloted to the beginning inventory

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Total cost of goods sold = $200 + $110 + $234 = $544

I hope my answer helps you

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3 years ago
Shane is looking for ways to get more capital for his appliance sales and service business. he is very protective of his company
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<span>Shane, who is interested in new ways to get more capital for his business that sells and services appliances, is highly protective of his company's information and often worries that it may fall into the wrong hands. With this state of mind, Shane is likely not interested in incorporating his money</span>
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Answer:

The correct answer is the option D: All of the above.

Explanation:

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3 years ago
Cool Gelato uses various sizes of foam cups. The use of 8oz foam cups is constant throughout the year, and Cool Gelato expects t
ruslelena [56]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

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