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2 years ago

In capitalism what is pure competition?

Business

1 answer:

inysia [295]2 years ago

5 0

Answer:

Pure or perfect competition is a theoretical market structure in which the following criteria are met: All firms sell an identical product (the product is a "commodity" or "homogeneous"). All firms are price takers (they cannot influence the market price of their product). Market share has no influence on prices.

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What is the endowment effect? A. Wealthier individuals place greater value on a particualr good relative to poorer individuals.

mr Goodwill [35]

Answer:

The correct answer is letter "C": People place a higher value on a good if they own it than they do if they are considering buying it.

Explanation:

The Endowment Effect reflects a situation in which people value an object more because they own it. The value they would give the object if they did not have it and were going to purchase it would be lower. This scenario takes place when people give a higher value to their objects because of emotional attachment.

4 0

3 years ago

Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2. Unit price and cost data are: M N O Unit sal

Ivahew [28]

Answer:

The answer is 629,000.

Explanation:

For each unit of M sold, the price is 7 and the cost is 3, so the contribution margin is 4;

For each unit of N sold, the price is 4 and the cost is 2, so the contribution margin is 2;

For each unit of O sold, the price is 6 and the cost is 3, so the contribution margin is 3;
With the mix, 1 unit of sale contributes (contribution per mix) 3*M+1*N+2*O = 3*4+1*2+2*3 = 20

For covering the 340,000 of fixed costs, you have to sale 340,000/20 units. That's equal to 17,000 units.

Each unit of sales is equal to (price per mix) 7*M+4*N+6*O = 7*3+4*1+6*2 = 37. So, with 17,000 units, the total sales will be 17,000 * 37 = 629,000.

3 0

3 years ago

Comfy Inc. uses five yards of wool in each blanket it produces. Comfy’s production budget next year is 30,000 blankets. The anti

Kamila [148]

Answer:

wool purchased = 140,000 yards

Explanation:

given data

wool in each blanket = five yards

production budget = 30,000 blankets

beginning inventory = 30,000 yards

Ending inventory = 20,000 yards

wool costs = $10

to find out

How many yards of wool should Comfy purchase

solution

we get first production in yards that is

production in yards = 30,000 × 5

production in yards = 150,000

and

wool purchased will be

wool purchased = production - ( beginning inventory - Ending inventory)

wool purchased = 150,000 - ( 30000 - 20000 )

wool purchased = 140,000 yards

7 0

2 years ago

Which activity relates to judging the seriousness or gravity of a given problem?

yKpoI14uk [10]

B. Evaluation

Evaluating means to systematically determine somethings merits and significance, including the seriousness or gravity of a problem.

3 0

3 years ago

Read 2 more answers

Emery is a corporate officer of Frakking Mining Corporation. With respect to binding Frakking Mining to contracts, Emery is Grou

vivado [14]

With respect to binding Frakking Mining to contracts, Emery is: B. an agent and has the authority.

<h3>What is contract?</h3>

A contract can be defined as an agreement between two or more parties in which the parties involve tend to agreed to the terms and condition of the contract.

Hence, if Emery serves in a representative capacity for Frakking's Mining Corporation owners with regards to binding Frakking Mining to contracts, Emery is will be an agent and tend to have the authority.

Therefore the correct option is B.

Learn more about contract here:brainly.com/question/984979

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3 0

2 years ago