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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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Adams, a general contractor, Brinks, an architect, and Carson, an interior decorator, formed the Dex Home Improvement General Pa
True [87]

Answer:

8,000

Explanation:

Calculation to determine what Brinks' initial basis in Dex is:

Carryover Basis of Land Contributed by Brinks $12,000

Less Mortgage Assumed by the Partnership ($5,000)

Add Mortgage percentage Kept by Brinks $1,000

(.20 x $5,000)

Brink's Initial Basis $ 8,000

($12,000-$5,000+$1,000)

Therefore Brinks' initial basis in Dex is: $8,000

3 0
2 years ago
The inhabitants of Pandora value their environment​ (e.g., forests,​ springs, breathable​ air, etc.) twice as much as the inhabi
Jobisdone [24]

Answer:

B. This is good because the value of GDP increases in both countries due to the increase in value added.

Explanation:

The production approach measures the GDP by calculating the difference between the selling price of a good or service, minus the cost of all the goods and services used to produce that good. This approach calculates the value added to the inputs needed to produce certain output.

Even though both countries will benefit from the increase in their GDP, Utopia should benefit more.

3 0
2 years ago
The manufacturing shop is producing custom photo imprinted mouse pads for clients. The startup equipment cost $400. A mouse pad
Grace [21]

Answer:

c(x) =400 + 3x

r(x) = 12x

x = 44.44

Explanation:

Given

<u>Cost</u>

Equipment = 400

Production = 3 per mouse pad

Revenue

Sales\ Price = 12

Solving (a): The cost function

Let the number of mouse pad be x and the cost function be c(x).

c(x) =Equipment + Production * x

c(x) =400 + 3 * x

c(x) =400 + 3x

Solving (b): The revenue function

Represent this with r(x)

r(x)= Sales\ Price * x

r(x)= 12 * x

r(x)= 12 x

Solving (c): The break-even point

This is the point where r(x) = c(x)

So, we have:

12x = 400 + 3x

Collect Like Terms

-3x+12x = 400

9x = 400

Solve for x

x = \frac{400}{9}

x = 44.44

8 0
3 years ago
Forrester Company is considering buying new equipment that would increase monthly fixed costs from $120,000 to $140,000 and woul
stiv31 [10]

Answer:

Break-even point in units= 2,800

Explanation:

Giving the following information:

Fixed csots= $140,000

Unitary variable cost= 80 - 10= $70

Selling price per unit= $120

<u>To calculate the new break-even point in units, we need to use the following formula:</u>

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 140,000 / (120 - 70)

Break-even point in units= 2,800

8 0
2 years ago
What role does the Federal Reserve play? Check all that apply. Regulate the banking industry Loan money to banks Give individual
andriy [413]
The Federal Reserve or also known as the Fed, serves as the bank of the United States, and therefore, it is responsible for any financial transaction that occurs within the economy of the United States. So, in the given statements above, I can say that the roles that Fed plays are the following: regulate the banking industry, and transfers any profits to the Treasury. 
8 0
3 years ago
Read 2 more answers
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