I think it’s either the last one or the first one sorry if I’m wrong
Answer:
b
Explanation:
A price taking firm is a firm that must sell at the price determined by the forces of demand and supply. This is typical of firms that in industries that sell identical products.
If the firm charges a price higher than equilibrium price, customers would go to other suppliers and the firm would sell known of its product.
There would be no incentive for a firm to sell below equilibrium price because it would be earning losses.
An example of an industry characterised by price taking firms are perfectly competitive industries.
For example, a farmer selling oranges is an example of a price taking firm
Answer:
Equivalent unit of conversion = Unit completed and transferred out+Ending WIP*Percent completion
= 15000+(3000*75%)
Equivalent unit of conversion = 17250
Total cost of conversion cost = 4500+32450+18710 = 55660
Cost per equivalent unit of conversion Cost = Total Cost/Equivalent unit = 55660/17250 = 3.23
Answer:
Explanation:
Let D be the event that the lost card is a diamond
and D' be the event that the lost card is a non diamond
Therefore,
P(D) = = 0.25
P(D') = = 0.75
Now,
Event that the cards picked up are both diamonds = A
Thus,
P( A | D) = [ As One Diamond Card is lost ]
And,
P(A | D') = [ As One Non-Diamond card is lost ]
Therefore,
P(A) = P(D) × P(A | D) + P(D') × P( A | D')
= 0.25 × + 0.75 ×
=