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aivan3 [116]
2 years ago
12

What conditions make a market perfectly​ competitive? A market is perfectly competitive if A. it has many buyers and one​ firm,

which produces a product with no close​ substitutes, with barriers to new firms entering the market. B. it has many buyers and a few​ sellers, all of whom are selling differentiated ​products, with no barriers to new firms entering the market. C. it has many buyers and a few​ sellers, all of whom are selling identical ​products, with barriers to new firms entering the market. D. it has many buyers and many​ sellers, all of whom are selling identical​ products, with no barriers to new firms entering the market. E. it has many buyers and many​ sellers, all of whom are selling differentiated​ products, with no barriers to new firms entering the market.
Business
1 answer:
DanielleElmas [232]2 years ago
8 0

Answer:

E. It has many buyers and many sellers , all of whom are selling differentiated products , with no barriers to new firms entering the market.

Explanation:

A perfect market is a market where there are large number of buyers such that all participants are price takers hence cannot influence the price of commodities sold in such market.

In a perfect market, there are no barriers to entry and exit. This also means that new firms can enter the market. Here, the buyers are free to buy from any person and the sellers are free to sell to anyone. Differentiated products are also sold there.

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Explanation:

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2 years ago
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A coupon bond that pays interest of $90 annually has a par value of $1,000, matures in 5 years, and is selling today at a $15 ab
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2 years ago
A company has the following balances on December 31, 2018, after year-end adjustments: Accounts Receivable = $62,500; Allowance
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Answer: The net realizable value is the maximum value that can be achieved with the sale of the asset, discounting the costs associated with it.

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3 0
3 years ago
The investments of Steelers Inc. include a single investment: 42,730 shares of Bengals Inc. common stock purchased on September
Inga [223]

Answer:

Explanation:

A. The journal entries are shown below:

On September 12

Investment A/c - Bengals Inc A/c Dr $598,220   (42,730 × $14)

          To Cash A/c                                     $598,220

(Being the acquired investment including brokerage commission is recorded)

On December 31

Unrealized gain or loss on available-for-sale securities A/c Dr $85,460            

            To Valuation allowance for available-for-sale securities $85,460

(Being decline in share value is recorded)

The computation is shown below:

= 42,730 shares × ($14 per share - $12 per share)

= 42,730 shares × $2 per share

= $85,460

B. The unrealized gain or loss for available-for-sale investments is shown in the Stockholder equity section on the balance sheet. It is to be shown in the negative item in the equity section.

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3 years ago
The state of California set up its own earthquake insurance program for homeowners in 1997. The rates vary by ZIP code, dependin
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Answer: This rate setting scheme creates an adverse selection​ problem: Homeowners with houses on unstable soil are more likely to purchase insurance than homeowners with houses that rest on bedrock

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California has its own earthquake insurance program for homeowners and the rates vary by the ZIP code, which depends on the proximity of nearest fault line.

However, critics claim that the people who set the rates ignored soil type. Some houses rest on bedrock while others sit on unstable soil. If the soil type is used, rate setting scheme creates an adverse selection problem.

An adverse selection problem is tendency of those in high-risk areas to purchase the insurance claim because there are higher chances they may get affected. Therefore, the homeowners with houses on unstable soil will more like buy insurance than the homeowners with houses that rest on bedrock.

6 0
3 years ago
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