Answer:
There are 4 conditions that make a market to be perfectly competitive:
- There must be a large number of buyers and sellers, and each one must be relatively small.
- All the sellers produce identical products or services.
- There are no barriers for entry or exit.
- All the buyers and sellers are price takers, no one can set the price at their own will.
Answer: Please find answers in explanation column
Explanation:
Given
Qd = 100 - 20P
Qs = 10 + 40P
Price Quantity Quantity Quantity
( Per Dozen) Demanded (Qd) Supplied (Qs)
$ .50 90 30
$ 1.00 80 50
$ 1.50 70 70
$ 2.00 60 90
$ 2.50 50 110
Calculation
at price = $0.50
Qd = 100 - 20P
= 100 - 20 x (0.50) =100-10 =90
Qs = 10 + 40P= 10 + 40 x (0.50)=10+ 20 = 30
at price = $1.00
Qd = 100 - 20P
= 100 - 20 x (1.00) =100-20 =80
Qs = 10 + 40P= 10 + 40 x (1.00)=10+ 40 = 50
at price = $1.50
Qd = 100 - 20P
= 100 - 20 x (1.50) =100-30 =70
Qs = 10 + 40P= 10 + 40 x (1.50)=10+ 60 = 70
at price = $2.00
Qd = 100 - 20P
= 100 - 20 x (2.00) =100-40 =60
Qs = 10 + 40P= 10 + 40 x (2.00)=10+ 80 = 90
at price = $2.50
Qd = 100 - 20P
= 100 - 20 x (2.50) =100-50=50
Qs = 10 + 40P= 10 + 40 x (2.50)=10+ 100 = 110
Answer:
Online displays (banner) ads
Explanation:
This has the potential to appear to any website user in an unsolicited manner
The substitution effect is defined as the outcome of consuming various goods and services on those who do not use them.
<h3>What do you understand about the Substitution effect?</h3>
The substitution effect is the decline in product sales that results from customers switching to less expensive substitutes when the product price increases. Alternately, the term "substitution effect" describes the shift in demand for a commodity brought on by a change in the price of the well relative to other substitutes. For instance, when beef costs increase people tend to buy more chicken or turkey. Customers purchase store-brand coffee in response to an increase in the price of premium coffee at a coffee shop. Consumers choose generic substitutes as designer prescription drug prices rise.
To learn more about the Substitution effect, visit:
brainly.com/question/22079450
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Answer:
C) Should be reported at $210,000
Explanation:
The computation of the gross profit in case of the multi-step income statement is presented below:
Mortenson Company
Multi step income statement
Sales $600,000
Less: Cost of goods sold -$390,000
Gross profit $210,000
After deducting the cost of goods sold from the sales we can get the gross profit
