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Alex Ar [27]
2 years ago
15

All of the following are assumptions of the perfectly competitive model except: Select an answer and submit. For keyboard naviga

tion, use the up/down arrow keys to select an answer. a consumers have perfect information regarding product price, quality, and availability. b the output of one firm in the market is a perfect substitute for the output of other firms in the market. c the market consists of a large number of firms, and each firm is small relative to the entire market. d entry into the market in the long run is barred.
Business
1 answer:
soldier1979 [14.2K]2 years ago
5 0

Answer:

d

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

Perfectly competitive market consists of a large number of firms, and each firm is small relative to the entire market. This makes firms unable to set the prices for their goods.

It is the monopoly and oligopoly market structure that is characterised by high entry and exit into the market

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ruslelena [56]

Answer: See explanation

Explanation:

The increase in income for Spendia will be:

= 1 / (1 - MPC)

where MPC = 0.8

= 1 / (1 - 0.8)

= 1 / 0.2

= 5

Increase in income = Gross investment × multiplier

= $100 × 5

= $500 million

The increase in income for Savia will be:

= 1 / (1 - MPC)

where MPC = 0.5

= 1 / (1 - 0.5)

= 1 / 0.5

= 2

Increase in income = Gross investment × multiplier

= $100 × 2

= $200 million

6 0
3 years ago
Sanchez Company's output for the current period was assigned a $400,000 standard direct labor cost. The direct labor variances i
o-na [289]

Answer:

$406,000

Explanation:

Calculation to determine the actual total direct labor cost for the current period

Using this formula

Actual direct labor cost=Standard direct labor cost + unfavorable rate variance - favorable efficiency variance

Let plug in the formula

Actual direct labor cost=$400,000 + $10,000 - $4,000

Actual direct labor cost= $406,000

Therefore the actual total direct labor cost for the current period is $406,000

5 0
3 years ago
You have two options to repay a loan. You can repay $6,000 now and $5,940 in one year; or you can repay $12,000 in 6 months. Fin
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Answer:

We will consider positive interest rate which is i=0.21 or i=21%

Explanation:

The formula for Future value is:

FV=PV(1+i)^n

The present value will become:

PV=FV(1+i)^{-n}

where:

n is the number of years

Since the condition is same present value,so the given data form the equation:

6000+5940(1+i)^{-1}=12000(1+i)^{-1/2}

Divide above equation by (1+i)^{-1}

6000(1+i)+5940=12000(1+i)^{1/2}

Let z=(1+i)^{1/2}\\. Above equation will become:

6000z^2+5940=12000z

Rearranging above equation:

5940-12000z+6000z^2=0

Solving the quadratic equation:

z=1.1,    z=0.9

Let z=(1+i)^{1/2}\\ will become:

z=(1+i)^{1/2}\\\\z^2=1+i

i=z^2-1

For z=1.1

i=(1.1)^2-1\\i=0.21

For z=0.9

i=(0.9)^2-1\\i=-0.19

we will consider positive interest rate which is i=0.21 or i=21%

7 0
2 years ago
A basic finding of labor economics is that workers who have more experience in the labor force are paid more than workers who ha
weqwewe [10]

Answer:

1. A basic finding of labor economics is that workers who have more experience in the labor force are paid more than workers who have less experience (holding constant the amount of formal education). True

2. This might be the case because people with more experience have usually had more on-the-job training. True

3. Some studies have also found that experience at the same job (called job tenure) has an extra positive influence on wages. Job tenure is valuable because people gain <u>job-specific knowledge</u> that is useful to the firm.

Explanation:

A worker with more experience means more on-the-job training, this drastically increases the worker's value of the marginal product of labor.

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2 years ago
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alina1380 [7]
15? since you have 10 left on hand after last night's inventory check you should get 15 if you don't know the rate at which each are sold.
3 0
3 years ago
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