A firm in a perfectly competitive market: d. must take the price that is determined in the market.
<h3>What is a
perfectly competitive market?</h3>
A perfectly competitive market can be defined as a type of market in which there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.
This ultimately implies that, all business firms in a perfectly competitive market must be willing to take the price that is determined in the market.
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Answer:
the future value of the cash flow in year 4 is $5,632.73
Explanation:
The computation of the future value of the cash flow in year 4 is as follows:
= $1,075 × (1.08^3) + $1,210 × (1.08^2) + $1,340 × (1.08^1) + $1,420 ×(1.08^0)
= $1,354.19 + $1,411.34 + $1,447.20 + $1,420
= $5,632.73
Hence, the future value of the cash flow in year 4 is $5,632.73
The same is to be considered and relevant
A job shadow usually lasts one day, but there are cases when they could last several days to give you a more in-depth look at a certain career or company.
<u>Answer: </u>Just in time inventory
<u>Explanation:</u>
Just in time is the strategy that is generally used in production units where they can efficiently manage the stock by reducing the waste. The waste can be reduced by receiving the goods only when they are needed so this reduced the inventory costs.
Inventory cost are the costs related to procurement, storage and maintenance of the inventory. Walgreens store can reduce the stocking of goods cost by ordering them on time when required alone. The small shipment of goods for every two days once can reduce the inventory cost.
In the long run, perfectly competitive firms will react to profits by increasing production.
Firms in a perfectly competitive world earn zero profit in the long run. While firms can earn accounting profits in the long run, they cannot earn economic profits.
In the long run, perfectly competitive firms will react to profits by decreasing production. CORRECT: In the long run, perfectly competitive firms will respond to losses by exiting the market. In the long run, perfectly competitive firms will respond to losses by reducing production.
A perfectly competitive market achieves long‐run equilibrium when all firms are earning zero economic profits and when the number of firms in the market is not changing.
In the long run, profits and losses are eliminated because an infinite number of firms are producing infinitely divisible, homogeneous products. Firms experience no barriers to entry and all consumers have perfect information.
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