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balu736 [363]
3 years ago
5

A perfectly competitive firm is a: Group of answer choices price taker, because it must accept the market equilibrium price. pri

ce participant, because it can coordinate its pricing decisions with other firms. price maker, because it has the freedom to set the selling price. price leader; it can change its price and other firms will adjust.
Business
1 answer:
den301095 [7]3 years ago
6 0

Answer:

A.  price taker, because it must accept the market equilibrium price.

Explanation:

A perfectly competitive firm is an ideal firm in which different firms sell products that are homogeneous or similar in nature. They are price takers because the prices of goods are determined by changes in demand and supply, therefore they must accept the market equilibrium price. They do not attempt to fix the prices of commodities. The opposite of this type of firm is a monopoly where a firm has complete control of a market, having the ability to change prices as it wills.

An example can be found among businesses that sell similar kinds of products. It could be in the form of grocery stores that sell similar wares. When any of the sellers leave the market, it does not affect the other sellers as their prices are at equilibrium. Therefore, anyone can enter or exit this type of market.  

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Let's suppose that the demand for allergists increases in california. assuming there is a perfectly competitive market for aller
densk [106]

Let's suppose that the demand for allergists increases in California. assuming there is a perfectly competitive market for allergists in California :

Allergists from other states (or countries) could move to California.

Surgeons, hematologists, and other doctors in California could become allergists after some retraining.

More people could enter medical school, specialize in allergies, and move to California.

A competitive market is an economic term that refers to a market in which there are a large number of buyers and sellers and no single buyer or seller can influence the market. A competitive market has no barriers to entry, many buyers and sellers, and homogeneous products.

In economics, especially general equilibrium theory, perfect markets, also called atomistic markets, are defined by several idealized conditions collectively known as perfect or atomistic competition.

Learn more about competitive market here: brainly.com/question/8753703

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8 0
1 year ago
Which of the following describes the function of geodemographic segmentation? It determines the type of lifestyles that consumer
Svet_ta [14]

Answer: <u><em> It identifies the specific households in a market by focusing on local neighborhood areas and creates classifications of neighborhoods where people live and shop</em></u>.

Explanation:

Geo-demographic segmentation is a classification technique used in marketing to discover whether the entity of a population fall into different groups by making comparing various characteristics with certain assumption.  

Geo-demographic segmentation is based on principles such as:

People who live in the same neighborhood have similar characteristics.  

Neighborhoods can be classified in terms of the characteristics of the population.

4 0
3 years ago
Our company has an account receivable for $12,500 that we have now deemed uncollectible. We use the direct write-off method. Whi
ryzh [129]

Answer: a. Accounts Receivable

Explanation:

The Direct Write-off method is usually used by businesses where Uncollectible Receivables are not common. This way when it does occur, they simply debit the Bad Debts accounts and credit the Accounts Receivables to show the event.

This method of Accounting violates the Matching Principle under the Accrual basis because it usually does not recognize bad debts in the same period that the inventory was sold. It only records bad debts when they are declared which could be periods afterwards.

3 0
3 years ago
(problem 13). margo's marginal utility of one dance lesson is 100 utils per lesson. her marginal utility of a new pair of dance
kirill115 [55]

Since Margo purchase her optimal consumption bundle, the marginal utility per dollar consumed on dance lessons must be equivalent to the marginal utility per dollar paid on dance shoes. The marginal utility per dollar spent on dance lessons is 100 utils per lesson, where $50 per lesson is equivalent to 2 utils per dollar. The marginal utility per dollar expended on dance shoes therefore has to equal 2 utils per dollar. Since the marginal utility of a pair of dance shoes cost 300 utils per pair, the value of a pair of shoes should be $150 per pair, so that 300 utils per pair/$150 per pair is equal to: 2 utils per dollar.

6 0
3 years ago
Why is there scarcity even in an affluent country like the united states?.
Law Incorporation [45]

Answer:

THERE ARE SCARCITY EVEN IN AN AFFLUENT COUNTRY LIKE THE UNITED STATES BECAUSE WANTS ARE LIMITED BUT NEEDS ARE UNLIMITED. SOME PEOPLE ARE POOR WHILE OTHERS ARE WEALTHY

7 0
2 years ago
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