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2 years ago

A Perfectly competitive firm’s entire marginal cost curve is its short-run supply curve." Is this statement true or false?

Business

1 answer:

Sphinxa [80]2 years ago

3 0

Answer:

False.

Explanation:

In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.

This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.

Hence, a perfectly competitive market is characterized by the following features;

1. Perfect information.

2. No barriers, it is typically free.

3. Equilibrium price and quantity.

4. Many buyers and sellers.

5. Homogeneous products.

Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market

A Perfectly competitive firm’s entire marginal cost curve is not its short-run supply curve but only the portion of the marginal cost (MC) curve of the perfectly competitive firm that lies above its average variable cost (AVC) curve would be its short-run supply curve.

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Morgan is going to give a presentation on how to prepare a tax return. Which of the following would constitute a suitable thesis

sasho [114]

Answer:

The correct answer is a. Preparing a tax return is a fairly simple process, if you know what documents you need.

Explanation:

Terror should not be imposed on people, due to the complexity that in some cases merits the professional advice of an accountant. For this reason, the best thesis that Morgan can use is to make them see that the process does not really involve excessive efforts if you have all the information at hand. The basic premise in tax matters is the organization, the basic knowledge of the standard ensures important levels of trust.

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3 years ago

Althea, black, has been a deejay for a local Christian music station for several years. The station got a new general manager an

VladimirAG [237]

Answer and explanation:

Althea is covered by the Equal Employment Opportunity Commission (EEOC). The EEOC is an agency of the federal government of the United States that enforces federal laws regarding discrimination of race, sex, age, religion, ethnicity, national origin or impairment. Althea was fired with the excuse that it is not "appropriate" for an African American deejay to play music on a white Christian music station. This is reason enough to sue the radio station for discrimination.

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2 years ago

As a long-term investment at the beginning of the 2021 fiscal year, Florists International purchased 20% of Nursery Supplies Inc

Natalija [7]

Answer:

Nursery Supplies at year-end 76,000,000

Gain on investment 12,000,000

Explanation:

Considering is considered a long-term investment for Florists International and the percentage of owership is significant we use equity method.

value of the investment at year end:

begining 67,000,000

income 60,000,000 x 20% = 12,000,000

cash dividends 10,000,000 shares x 1.5 x 20% = (3,000,000)

ending investment 76,000,000

8 0

3 years ago

Jane is planning to go on a camping trip. She purchases a bottle of mineral water, a pack of biscuits, a small tube of toothpast

Naddika [18.5K]

Answer:

D) nondurable goods

Explanation:

Durable goods or hard goods are goods that retain its value over a long period of time. It isn't totally consumed over time but can be used over a long period of time. E.g. computer, phone etc

Nondurable goods are goods that are consumed in a short period of time.

Intangible goods are goods that are non physical in nature. Example are services.

I hope my answer helps you

5 0

3 years ago

Equilibrium is defined as:

Mamont248 [21]

The answer is d. quantity demanded equals quantity supplied

5 0

3 years ago

Read 2 more answers