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Archy [21]
3 years ago
14

Consider the markets for three products below. Indicate which characteristics of a competitive market are met by these markets.

Business
1 answer:
Orlov [11]3 years ago
7 0

Answer:

Market : Gasoline

b. Standardized good

c. Full information

e. Participants are price takers.

Market : Barbershop haircuts

a. Large number of buyers

c. Full information

Market : Bicycles

a. Large number of buyers

b. Standardized good

c. Full information

d. No transaction cost

Explanation:

The three markets will have different characteristics which will cause the competition. The Gasoline market has standardized product and the customers are price takers. Usually the prices are fixed for the products and there is no bargaining.

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A manufacturer of industrial grade gas handling equipment wants to have $725,000 in an equipment replacement contingency fund 10
Amanda [17]

Answer:

$41,354.98

Explanation:

Required future worth = Annual savings x FVIFA(r%, N) x (1 + r)

Required annual savings ($) = [Required future worth / FVIFA(r%, N)] / (1 + r)

= 725,000 / [FVIFA(10%, 10) * 1.1]

= 725,000 / (15.9374 * 1.1)

= 725,000 / 17.53114

= 41354.98318991235

= $41,354.98

Note: Since this is annuity due (deposit made at beginning of year), FV is divided by (1+r).

7 0
3 years ago
How is the work in process inventory account related to the finished goods inventory account?
jek_recluse [69]
A.) factory overhead
8 0
3 years ago
Can someone please write a business article for me
11111nata11111 [884]

Answer:

u can use quillbot.com

Explanation:

it makes a few sentences into a lot giving a whole article on something off of a few sentences u write

7 0
3 years ago
Wilturner Company incurs $90,000 of labor related directly to the product in the Assembly Department, $39,000 of labor related t
Marina CMI [18]

Answer:

Wilturner Company

The journal entries to record the labor for the Assembly Department would include:

Debit Work in Process $155,000

Credit Direct labor $90,000

Credit Variable factory overhead $39,000

Credit Fixed factory overhead $26,000

To record the direct and indirect labor costs of the assembly department.

Explanation:

a) Data and Analysis:

Direct labor $90,000

Variable overhead (labor) $39,000

Fixed overhead (labor) $26,000

b) The direct labor cost = $90,000 and Factory overhead costs = $65,000 ($39,000 + $26,000)

7 0
3 years ago
Suppose that the organic-produce industry is composed of a large number of small firms. In recent
masha68 [24]

Answer:

The correct answer is option d.

Explanation:

An industry is comprised of a large number of small firms.  

Because of losses, many firms have left the industry.  

This will cause the industry supply to decline.  

The industry supply curve will move to the left.  

The new supply curve will intersect the demand curve at a higher point.

This leftward shift in the supply curve will cause the equilibrium price to increase and equilibrium quantity to decline.

3 0
3 years ago
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