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e-lub [12.9K]
3 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]3 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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The Utah Mining Corporation is set to open a gold mine near Provo, Utah. According to the treasurer, Monty Goldstein, "This is a
Alik [6]

Answer:

IRR = 13.05%

Explanation:

using an excel spreadsheet, the cash flows are:

year 0 = -$3,200,000

year 1 = $425,000

year 2 = $425,000 x 1.08 = $459,000

year 3 = $459,000  x 1.08 = $495,720

year 4 = $535,378

year 5 = $578,208

year 6 = $624,464

year 7 = $674,422

year 8 = $728,375

year 9 = $786,645

year 10 = $849,577

year 11 = ($849,577  x 1.08) - $480,000 = $917,543 - $480,000 = $437,543  

IRR = 13.05%

The internal rate of return (IRR) is the discount rate at which a project's NPV (net present value) would equal $0.

6 0
3 years ago
A project that cost $80000 with a useful life of 5 years is being considered. Straight-line depreciation is being used and salva
mina [271]

Answer:

8.13%

Explanation:

Annual return = [ (Total FV/Initial investment)^(1/n) ] -1

n = useful life of the project

Total Future Value = (22650*5) +5000

Total FV = $118,250

Initial investment = $80,000

Annual return = [ (118,250/80,000)^(1/5) ] -1

r = [ (1.478125^(1/5)] -1

r = 1.0813 - 1

r = 0.0813 or 8.13%

6 0
2 years ago
Michael Chang buys only tennis rackets during a particular year. During the year in question, the price of all goods rises by 10
Zolol [24]

Answer:

Michael does not experience inflation because he only buys Tennis rackets

Explanation:

Inflation is defined as increases in price per unit price.

It is the prolonged increase in the price of goods and services caused by devaluation of currency , demand -pull or cost - push. While a certain degree of inflation can be beneficial to a thriving economy , it can become a threat if it becomes larger.

One of the direct impact of inflation is rise in price of goods and services.

As the price of rackets was not affected by the inflation , that means that Michael was not affected by the inflation.

6 0
2 years ago
Levitt promoted the idea that the success of companies like McDonald's and Coca-Cola that sell essentially the same products eve
Ksivusya [100]

Answer:

Globalization of markets and brands

Correct option A

Explanation:

Globalization has enabled firms to specialize and to increase the intensity of R&D, innovation and capital in their output.

Globalization has made it easier for new companies to start competing with old companies.

Globalization has made companies to increased the number of people that it employs, both through exports and imports.

4 0
3 years ago
John told his sister Susan that money must be able to pass from hand to hand without being easily destroyed. John is describing
WITCHER [35]

Answer:

B) Durable

<u>Multiple-choices</u>

A) Portable                                                                                                                                                                                                                                                    B) Durable

C) Divisible

D) Acceptable

Explanation:

Durability is a vital feature of money. It refers to the ability of money to be used over and over again. Durability implies that money should withstand wear and tear for a long duration. Because money is meant to circulate without limitations, it should be made to last for a considerable period.  Printing of money is an expense. To save on this cost, both notes and coins should be made durable.

4 0
2 years ago
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