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seraphim [82]
3 years ago
13

For each of the following characteristics, indicate whether it describes a perfectly competitive firm, a monopolistically compet

itive firm, both, or neither. (Note: If the characteristic describes neither, leave the entire row unchecked.) Characteristic Perfectly Competitive Monopolistically Competitive Sells a product identical to those of its competitors Can earn economic profit in the short run Produces above the minimum average total cost in the long run Charges a price that is the same as marginal cost Produces welfare-maximizing level of output Has marginal revenue less than price
Business
1 answer:
KengaRu [80]3 years ago
4 0

Answer:Please see below for answers

Explanation:A perfectly competitive market exist where there are many buyers and sellers with homogeneous products, and no restrictions to the entry and exit of the market. In the short run of this market, economic profits are attainable even though they vary and is the factor that determines whether to exit or remain in the market.  Here, Price = Marginal cost equal Marginal Revenue.

 A monopolistic market occurs  where many sellers with slight different products exists having slight  influence to set the price according to firm's preference, and  no significant barriers to entryof the market.

--Sells a product identical to those of its competitors----Perfectly competitive

---Can earn economic profit in the short run------Both  Monopolistically and Perfectly competitive

---Produces above the minimum average total cost in the long run----- Monopolistically  Competitive

--Charges a price that is the same as marginal cost ----Perfectly competitive firm

--Produces welfare-maximizing level of output -----Perfectly competitive

---Has marginal revenue less than price----Monopolistically  Competitive

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Which agricultural system trapped many southern blacks in a cycle of debt and poverty despite their hard work?
Citrus2011 [14]

Answer:

sharecropping

Explanation:

Sharecropping is a system of tenancy agriculture . In it a landowner gives a portion of his land to  a labour for the purpose of raising crop . In return , he gets a share of crop raised by him for free.

After the civil war , former slaves were in search of jobs . Due to depression and absence of credit system ,they went into this deal of sharecropping with whites . They also borrowed heavily for getting seeds and fertilizer. Landlords charged high interest rate for that which led them to debt-trap. Landowner also put condition like selling the yield on  their condition  at pre-specified cheap price.

7 0
3 years ago
Column A
kykrilka [37]

Answer:

omg what is this I can't understand sorry

3 0
2 years ago
In a(n) ________, the consumer ranks a product's attributes in terms of perceived relevance or importance, then compares the var
mafiozo [28]

Answer:

Lexicographic decision rule

Explanation:

A lexicographic decision rule is one of the decision making rules in purchase that allows a product to be ranked according to its importance to the consumer.

When a consumer is to purchase a product, the consumer ranks products that are similar in use as well as how important the product is. This helps a consumer to make the best decision when it comes to purchasing.

Cheers.

6 0
3 years ago
What is the major purpose of a bank reconciliation statement?
lara31 [8.8K]
Purpose of a bank reconciliation statement.
A bank reconciliation statement is used to compare your record to those of your bank to see if there is difference between the two sets of records. The ending balance of your version of cash records is known as the book balance while the bank`s version is known as bank balance. It is common for there to be a difference in the two balances. The results to the differences might be due to overdrawn bank account, bounced checks and overdraft fees. It is important for you to check the difference because there might be substantial variance between the amount you think you have and that the bank thinks you have. In some cases the bank may even elect to close down your account. 
3 0
3 years ago
Miracle Clean's variable costs are $3.00 per bottle and Fixed Expenses are $350,000 per year. The company currently sells 150,00
DerKrebs [107]

Answer:

131,250= number of units

Explanation:

Giving the following information:

<u>We need to calculate the number of units to be sold to maintain a profit of $175,000.</u>

Unitary variable cost= $3

Fixed expenses= $350,000

Selling price= $7

Net income= total contribution margin - fixed cost

175,000= number of units*(7 - 3) - 350,000

525,000 = number of units*4

525,000 / 4= number of units

131,250= number of units

7 0
3 years ago
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