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kotykmax [81]
3 years ago
10

Consider a competitive market with a large number of identical firms. The firms in this market do not use any resources that are

available only in limited quantities. In this market, an increase in demand will:
a. increase price in the short run but not in the long run.
b. increase price in the long run but not in the short run.
c. increase price both in the short and the long run.
d. not affect price in either the short or the long run.
Business
1 answer:
lozanna [386]3 years ago
4 0

Answer:

a. increase price in the short run but not in the long run.

Explanation:

The firms don't use resources that are available in limited quantities. So, as firm output increases, they can use resources in higher quantity but at the same price.

Therefore, as quantity demanded increases, the firms can supply higher quantity without any increase in resource cost. So, price  increase in short run but not in the long term.

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It is the journey or buying process that consumers go through to become aware of, evaluate, and purchase a new product or service, and it consists of three stages that make up the inbound marketing framework: awareness, consideration, and decision.

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To Insurance expense 3,420

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Everyone likes to have Lydia working on their committees because she seems to have the unique ability to consider a variety of o
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Answer:

c. convergent thinking

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7 0
3 years ago
The following labor standards have been established for a particular product:
swat32

Answer:

$2,430F

Explanation:

The formulae for labor rate variance is given as (Actual rate - Standard rate) × Actual hours worked.

Labor rate variance = (Actual rate - Standard rate) × Actual hours worked

Given that;

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= $119,880 ÷ 8,100

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8 0
3 years ago
Indirect costs occur when
nikklg [1K]

Answer:

The answer is A. resources are shared by more than one product or service.

Explanation:

Indirect cost are costs that are not directly related or traced to any product or activity. They are shared or used by more than one activities. Examples include, Adminstrative expenses, advertising expenses, telephone expenses, rent, office expenses etc.

Like direct cost, indirect cost can be fixed or variable.

Indirect costs are used by business as a whole and not just limited to a particular product.

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Option C and D are also wrong

5 0
3 years ago
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