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lilavasa [31]
3 years ago
11

Is the resource demand curve of a firm operating in an imperfectly competitive industry more or less elastic than the resource d

emand curve of a firm operating in a perfectly competitive industry? Is a firm operating in an imperfectly competitive industry more or less responsive to resource price changes than a firm operating in a perfectly competitive industry?
Business
1 answer:
Thepotemich [5.8K]3 years ago
5 0

Answer:

1. The resource demand curve of a firm operating in an imperfectly competitive industry is less elastic than the resource demand curve of a firm operating in a perfectly competitive industry.

2. A firm operating in an imperfectly competitive industry is less responsive to resource price changes than a firm operating in a perfectly competitive industry.

Explanation:

In an imperfectly competitive industry, the goods and services are heterogeneous, with few sellers and buyers, competition for market share, and the sellers are not price-takers.  Since they are not identical, and sellers are not price-takers as in a perfectly competitive market, the sellers can increase prices when a resource price (cost) has increased, and still they earn economic profits.  However, their ability to earn profits will depend on the quantities of goods produced and sold.

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Financial literacy refers to:
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Answer:

b) How well you understand and use personal finance information

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Financial literacy involves understanding  and using financial information. When applied, a person is in a position to understand their  financial situation and possess the ability to make well informed decisions on matters relating to money. A financially literate person understands how much money comes in and how much goes out and for what purposes. All aspects of their financial wellbeing are intentional.

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An approach to marketing that involves the entire business organization in the process of satisfying customers' needs while achi
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if an internal audit reveals issues, it is time to do some interviews and document reviews. how many people should be involved i
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'If an internal audit reveals issues, it is time to do some interviews and document reviews. 2 the attorney many people should be involved in the interview process of an employee.

An employee is a person who is paid to work for an individual or company. A worker does not have to work full time to be considered an employee. You just need to be paid for your work by your employer (the person or company that pays your salary).

An employer is an individual, firm, or organization that employs people and pays them wages for their work. A person who works and gets paid is called an employee. Employers provide employment.

An example of an employee is a store clerk. Employees are required to perform specific tasks such as: B. An employee is considered an employee if they wear a name tag and greet customers with certain expressions.

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6 0
1 year ago
Wadding Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most recent month
kkurt [141]

Answer:

$114 unfavorable

Explanation:

For computing the overall variable overhead efficiency variance  first we have to need to find out the standard variable overhead rate which is shown below:

= ($11,680 + $41,900) ÷ 4,700 hours

= $11.4

Now the  variable overhead efficiency variance is

= standard variable overhead rate × (Actual machine hours - standard machine hours)

= $11.4 × (4,740 machine hours - 4,730 machine hours)

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3 years ago
Suppose that the government decides to regulate this natural monopolist by requiring the firm to charge a price of P2. Which is
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If the government takes this approach, consumer surplus would increase.

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Please find attached the graph required to answer this question. To learn more, please check: brainly.com/question/15415230

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