Price is taken to be a given by an individual firm selling in a purely competitive market because each seller supplies a negligible fraction of total market.
Purely competitive market refers to a marketing situation in which there are a large number of sellers of a product which cannot be differentiated selling a standardized product and therefore, no single firm has a significant influence on the product price. It is characterized, furthermore, by ease of entry for new companies into the market and perfect market information. Hence, the sellers in such a market are considered to be price takers. Examples of purely competitive market are agricultural products such as wheat or corn.
Learn more about Purely competitive market:
brainly.com/question/15176320
#SPJ4
I don't know the answer. I just want you to know that. Good day mate.
Answer:
The budgeted sales revenue is : $168,000
Explanation:
In 2019, as Mary's Basket Company has the opening Inventory balance of 2,000 baskets; projects to manufactures 24,000 baskets, plans to maintain ending inventory at $2,000 baskets without any work-in-process inventory; We have the baskets available for sales in the year of 2019 is:
Actual Ending Balance of 2018 + Projected manufactured baskets during the year 2019 - Planned ending Balance of the year 2019 = 2,000 + 24,000 - 2,000 = 24,000
The unit price is projected at $7.
Thus, we have the projected sales revenue is:
Projected Unit price x Projected baskets available for sales = 7 x 24,000 = $168,000
The behavior of the United States to block China's chip research was to encourage its industries to develop theirs.
<h3>What led to U.S. decision?</h3>
Aftermath of the ban of United states platform in China has led to numerous backlashes from the U.S. authorities as well.
For instance, there have been strict restriction on imported goods from China into the United states.
Hence, the behavior of the United States to block China's chip research was to encourage its industries to develop theirs.
Read more about chip research
<em>brainly.com/question/5154911</em>
#SPJ1
Answer:
Magazine's cost per thousand (CPM) = $62
Explanation:
Given:
Cost per card = $930
Total number of cards = 15,000
Find:
Magazine's cost per thousand (CPM)
Computation:
Magazine's cost per thousand (CPM) = [Cost per card x 1,000] / Total number of cards
Magazine's cost per thousand (CPM) = [930 x 1,000] / 15,000
Magazine's cost per thousand (CPM) = 930,000 / 15,000
Magazine's cost per thousand (CPM) = $62
