Assume that the market for corn is perfectly competitive. Currently, firms growing corn are generating losses. In the long run, we can expect "some firms to exit causing the market price of corn to rise.".
<h3>What is perfectly competitive market?</h3>
According to economic theory, perfect competition exists when all businesses sell the same goods, market share has no bearing on prices, businesses can enter or quit the market without any obstacles, consumers have perfect or complete information, and businesses are unable to set prices.
There are five characteristics that have to exist in order for a market to be considered perfectly competitive. The characteristics are -
- homogenous items,
- no entry or exit obstacles,
- price taker sellers,
- transparent products, and
- no seller has any control over market prices.
The three key components of perfect competition are as follows:
- There are a lot of buyers and sellers in the market.
- These buyers and sellers are in competition with one another.
- The good being offered or purchased is uniform.
- Companies are free to enter or leave the market.
To know more about; Why is perfect competition the best form of market structure?, here
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Answer:
I believe it would be a lot easier to argue organization's ethical responsibility to help employees deal with stress.
<u>Here's some ideas:</u>
<em>INTRO</em>
--> Introduce your topic/argument
(make sure to include a thesis statement!!)
First, show the reader how damaging stress can be to the employee by explaining it's negative impact on the employee's wellbeing:
- Symptoms of stress and ways that it negatively impacts employees specifically.
- Mention how stress reduces productivity and site research about it.
Point out how common stress is within the workplace by using stats or current day examples:
- Statistics about the huge percentage of people who report feeling stressed out from work.
- Use the current day example of how the current pandemic has had a massive impact on the stress especially on healthcare workers.
- Main point: <em>stress is a very common and serious problem among employees</em>.
<em>BODY</em>
Argue how organizations DO have an ethical responsibility to help employees deal with stress:
- Point out how it's a very serious problem.
- Argue that an organization who chooses not to help is a bad organization.
- Show examples in history where organizations did not take good care of their employees.
To further strengthen your argument, mention how beneficial it is for the organization itself to provide resources for employees to help them manage their stress:
- Provide statistics on the usefulness of stress-management programs within the workplaces (example: INCREASES PRODUCTION).
- Argue how happier employees also tend to function better in the workplace because they feel supported.
<em>CONCLUSION</em>
--> Summarize your essay
- Summarize your main points and restate your thesis statement here.
Answer: The correct answer is "the informal rules of the game".
Explanation: The given scenario illustrates <u>the informal rules of the game.</u>
<u>Because despite not being an official standard, it is an informal rule that the company tends to follow because it gives good results, and is backed by the organizational culture of the company.</u>
Answer:
Letter of Credit is the correct answer.
Explanation:
Answer:
Deferred tax asset balance on December 31, 20X3 = $115,500
Explanation:
The computation of the amount of deferred income taxes should Mill report is shown below:
<u>Year Tax purpose Book purpose Difference Deferred tax book
</u>
20X1 $400,000 $0 $400,000 $84,000
20X2 $625,000 $375,000 $250,000 $52,500
20X3 $750,000 $850,000 ($100,000) ($21,000)
Deferred tax asset balance on December 31, 20X3 = $115,500
