If a perfectly competitive business firm is a price taker, then: A. pressure from competing firms will force acceptance of the prevailing market price.
<h3>What is a perfectly competitive market?</h3>
A perfectly competitive market can be defined as a type of market that is typically characterized by many buyers and sellers of homogeneous products, and there is free entry and exit in the market.
<h3>What is a
price taker?</h3>
A price taker can be defined as a business firm that is operating in a perfectly competitive market and is generally required to take the prevailing market price for its homogeneous product.
In this context, we can infer and logically deduce that pressure from other competing business firms would force acceptance of the prevailing market price when a perfectly competitive business firm is a price taker.
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Complete Question:
If a perfectly competitive firm is a price taker, then
A. pressure from competing firms will force acceptance of the prevailing market price.
B. it must be a relatively small player compared to its competitors in the overall market.
C. it can increase or decrease its output without affecting overall quantity supplied in the market.
D. quality differences will be very perceptible and will play a major role in purchasers' decisions.
Answer:
Explanation:
About 5 employees have ages that are older than 54 years.
What is a box plot?
A box plot provides the summary of a data using the five number summary that is minimum, lower quartile, median, upper quartile and maximum.
From the diagram, the third quartile is 54 years. Hence 75% of the employees are between 35 to 57 years.
25% are older than 54 years, hence:
Employers older than 54 years = 25% of 23 employees = 5.75
About 5 employees have ages that are older than 54 years.
Acetic acid and ether are pure substance because they can not be further broken down.
<h3>What is a homogeneous mixture?</h3>
A homogenous mixture consists only of single phase. A solution is comprised of a solute and a solvent while a colloid is a false solution.
The following is a classification of each of the items;
1- Acetic acid - pure substance
2- Ether - pure substance
3- Vinegar - homogeneous mixture
4- Gravy - colloid
5- Beef stew - colloid
6- Seltzer water - solution
7- Salad - colloid
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Mising parts;
Classify each of the following as a pure substance, homogeneous mixture, solution, or colloid.
1- Acetic acid
2- Ether
3- Vinegar
4- Gravy
5- Beef stew
6- Seltzer water
7- Salad
D. First time freshmen, current students, and transfer students.
Answer: {y∈R: y≤6} or [6,∞)
Explanation:
This problem doesn't require too much math. If you look at the equation given, you can see that it is a quadratic equation in the form of
. Since this is a quadratic equation, we have an idea of that the graph would look like. It either curves up or down. Since this is a positive equation, 
, we know that this is going to curve up. In order to find the minimum of the curve, you would use 
.
This means the x value of the parabola is -2. To find the y, you plug -2 into the original equation.
Now that we know the y value of the minimum/vertex is 6, and it is determined that the parabola curves up, the range is y≤6 because the range starts at 6 and goes off toward infinity.
