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.
Answer:
$4,000
Explanation:
Given that,
Last year:
DVDs sold = 10
Selling price of each DVD = $20
DVD players sold = 5
Selling price of each DVD player = $100
This year:
DVDs sold = 150
Selling price of each DVD = $10
DVD players sold = 10
Selling price of each DVD player = $60
Real GDP:
= (No. of DVDs sold this year × Selling price of each DVD last year) + (No. of DVD players sold this year × Selling price of each DVD player last year)
= (150 × $20) + (10 × $100
)
= 3,000 + 1,000
= $4,000.
<span>The answer is 516,250 by first calculating expenses (6,500,000-40,000-expenses=590,000), net income = revenue-expenses.</span>
<span>The opportunity cost of reading is watching TV.
</span>
Opportunity cost alludes to an advantage that a person could have gotten, yet offered up, to make another course of move. Expressed in an unexpected way, an opportunity cost that shows an alternative given up when a choice is made. This cost is, accordingly, most significant for two totally unrelated occasions.
