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e-lub [12.9K]
4 years ago
10

Provide an example of a real-world industry or market that would be described by economists as perfectly competitive. (hint: wha

t are the characteristics of perfectly competitive markets?)"
Business
1 answer:
Leona [35]4 years ago
7 0
A perfectly competitive market is a market where all competitors are very small businesses, supply prices are perfectly elastic, all goods sold are the same(no branding), abnormal profits can only be made in the short run
Perfect competition is a theoretical model so there is no real world example in our world an example I find easy is the milk market since the good is the same no matter the brand and the amount of branding is minimal and there is usually a good amount of competitors in a country 
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George Jefferson established a trust fund that will provide $170,500 per year in scholarships. The trust fund earns an annual re
Dimas [21]

Answer:

$8,119,048

Explanation:

Given that,

Amount of scholarships = $170,500 per year

Trust fund earns an annual rate of return = 2.1 percent

Let x be the amount contribute to the fund and assuming that only income is distributed,

2.1% of x = Amount of scholarships

0.021x =  $170,500

x = $170,500 ÷ 0.021

  = $8,119,048

Therefore, the amount of money that is contributed by the George Jefferson to the trust is $8,119,048.

4 0
3 years ago
The United States trade deficit first became a problem in the 1970s because?a. The prices of imports from Japan increased dramat
anyanavicka [17]

Answer:

The price of foreign oil was raised by OPEC.

Explanation:

By the end of 1960s the foundation of OPEC (Oil producers and exporter countries) defined the collusion of some oil producer countries to increase their power over the oil market. With the political crisis in the Arab world, the OPEC to advantage of shortage in oil world supply and increase the price of oil. Being the US a net importer of oil, the increment in oil prices turned into a trade deficit in a short time.

6 0
3 years ago
_______ is the only state to have adopted a single-payer health plan.
Leviafan [203]
Hello there!

Vermont was the only state to have adopted a single - prayer health plan.


I hope this helps! As always, it is my pleasure to help students like you.
8 0
4 years ago
Read 2 more answers
Jane Industries manufactures plastic toys. During October, Jane's Fabrication Department started work on 10,000 models. During t
GrogVix [38]

Answer:

11,125 units

Explanation:

Particulars                                                                  Units

Beginning WIP (2500*0.75) 25% is completed       1,875

Units started and completed during the month      8500

[10,000 -1500 as ending Inventory]  

Ending Inventory [1500*0.50]                                    <u>750</u>

Equivalent units                                                         <u>11,125</u>

So, the equivalent units for conversion costs during October is 11,125 units

5 0
3 years ago
Review the following conversation: Marcy: Dana, can I talk to you for a couple of minutes? We’ve been roommates for two years an
babunello [35]

Answer:

Coaching.

Explanation:

Coaching is demonstrated as the method of training in which a more experienced or proficient person provides suggestions and guidance to an individual(employee) with an aim to build and develop his/her skills, competence, performance, and career. <u>The managers are required to be efficient coaches as it helps them in promoting better engagement in the team and enhancing productivity as well as customer support of the organization</u>. It helps the managers to develop the skills in employees and boost their self-confidence which makes them able to overcome challenges effectively, improve their performance, and reach desired goals.

7 0
3 years ago
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