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
Answer:
2. raises interest rates, causing aggregate demand to shift to the right.
Explanation:
Expansionary Fiscal Policies try to increase Aggregate demand by :-
- Decrease in taxes by government ; or / and
- Increase in government spending
The government injecting more money in public : by reduced taxes & increased govt spending - increases the aggregate demand .
The government finances this increased public spending with same or decreased taxes - through borrowings.
The government borrowing funds reduces the loanable funds in capital market, this loans' excess demand in capital markets increase their price i.e Interest.
Answer:
C) are independent of volume and product mix.
Explanation:
This is true because marketing, sales, distribution and administrative expenses are generally mixed costs. That means that they are part variable and part fixed.
For example, most salespeople's salary consists of a small fixed amount and a percent per total sales made.
Distribution costs also vary because generally when you purchase a truck, the largest cost is the truck itself, and the driver also gets paid on a monthly basis, insurance, etc., but other costs like fuel and maintenance costs vary depending on how much the trucks are driven, so they depend on the volume distributed.
Administrative expenses are also mostly fixed, but they might include bonuses for good performance which depend on total sales, and other expenses that might increase when total sales increase.
Finally marketing expenses are generally determined as a percentage of the expected sales revenue generated by the products. There are several ways to determine marketing expenses, but they all are based on a fixed amount (e.g. cost of producing an advertisement) and variable factors like market share or sales growth. E.g. you will advertise more intensively in the areas where your product sells better.
One disadvantage of using a company’s tuition reimbursement program is that you may have to extend your contract with the company.
Tuition reimbursement is offered by employers as a way to pay back employees for education expenses. The people who participated still have to pay out of pocket for the courses they take. At the end of the course, the employee can get back some or all of the tuition expenses.
