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STatiana [176]
3 years ago
5

A perfectly competitive firm, with MC=q operates in a market character,zed by the following market demand and supply conditions:

Business
1 answer:
PolarNik [594]3 years ago
6 0

Answer:

Since a perfectly competitive firm must accept the price for its output as determined by the product’s market demand and supply, it cannot choose the price it charges. Rather, the perfectly competitive firm can choose to sell any quantity of output at exactly the same price. This implies that the firm faces a perfectly elastic demand curve for its product: buyers are willing to buy any number of units of output from the firm at the market price. When the perfectly competitive firm chooses what quantity to produce, then this quantity—along with the prices prevailing in the market for output and inputs—will determine the firm’s total revenue, total costs, and ultimately, level of profits.

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If you were a politician, why would you find it difficult to remove a binding price ceiling? because it greatly benefits firms,
WITCHER [35]

Answer:

The correct answer is: because it benefits some consumers who are voters.

Explanation:

A politician will be concerned about his votes. He accordingly will make policies to appease voters.

A price ceiling keeps price level from rising beyond a certain limit, thus consumers will be able to consume at lower prices.

Removal of price ceiling may hurt these consumers as they will need to pay higher prices.

These consumers are also voters and politician do not want them to be favored by them.

So, the politician will find it difficult to remove a binding price ceiling.

7 0
2 years ago
Listed below are several transactions. For each transaction, indicate whether the cash effect of each transaction is reported in
Scilla [17]

Answer:

  Transaction                                          Type of Activity        Cash Inflow or

                                                                                                    Cash Outflow

1 Payment of employee salaries            Operating                  Cash outflow

2. Sale of land for cash                           Investing                    Cash Inflow

3. Purchase of rent in advance              investing                    Cash outflow

4.Collection of an account receivable   Operating                  Cash inflow

5.Issuance of common stock                  Financing                   Cash inflow

6.Purchase of inventory                          Operating                   Cash outflow

7.Collection of notes receivable             Investing                   Cash inflow

8.Payment of income taxes                    Operating                  Cash outflow

9. Sale of equipment for a note recei.    Non cash                  No effect

10. issuance of bonds                              Financing                  Cash inflow

11. Loan to another firm                           Investing                   Cash outflow

12. Payment of a long term note pay.     Financing                 Cash outflow

13. Purchase of treasury stock                Financing                 Cash outflow

14. Payment of an account payable        Operating                Cash outflow

15. Sale of equipment for cash              Investing                     Cash inflow        

Explanation:

Statement of cash flows shows the cash generated and expended by an entity during an accounting period. The statement divides the inflow and outflow of cash into three sections: operating, investing and financing activities.

Operating activities contain activities relating to cash inflow and outflow  of  entity`s primary operation during a given year. Example of this inflow and outflow are cash receipt from customers and cash payment to vendors.

Investing activities contain activities relating to entity`s investment in assets. Example includes cash received from disposal of an asset.

Financing activities contain activities relating to entity`s relationship with provider of capital like equity owner and debt holder.

Cash inflow refers incoming of cash into the business. Example includes cash received from customers. Cash outflow refers to outgoing of cash from the business.  Example includes cash paid to vendors.

3 0
3 years ago
_______ is a great way to broaden or narrow your search.
natulia [17]
D asking your instructor to assign you a topic
5 0
3 years ago
Read 2 more answers
If a legal monopoly owns the exclusive rights to a good for 20 years, it has a ________ for that good.
Nastasia [14]

If a legal monopoly owns the exclusive rights to a good for 20 years, it has a patent for that good.

What do you mean by monopoly?

Monopoly translates to "alone to sell." When there is only one vendor of a given commodity, there is little to no intense rivalry from other sellers. We'll examine the characteristics of a monopoly market in this post.

What do u understand by patent?

An innovator receives a property right known as a patent from a government body. In exchange for full disclosure of the innovation and for a set amount of time, a patent grants the creator exclusive rights to the patented process, design, or invention.

Learn more from monopolies: brainly.com/question/13113415

#SPJ4

4 0
1 year ago
Indicate all items in the following list that are not consumption goods and services and explain why.Item a​: A chocolate barIte
natima [27]

Answer: Option B, D , E

Explanation: In simple words, goods which are not used in the production of other goods rather consumed by the individual to satisfy current wants is called consumer goods.

So, form the above explanation we can conclude that a chocolate bar and a golf ball are consumer goods among all options.

.

B. A ski lift will be used continuously by the owner for its business operation. Hence, not a consumer good.

D. A shopping mall cannot be considered a good. It is a fixed asset to the entity owning it. Hence, not a consumer good.

E. A train will continuously used by the organisation owning it for its business purpose. Hence , not a consumer good.

8 0
3 years ago
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