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3 years ago

Does anyone have a perfect competition business example?

Business

1 answer:

Nastasia [14]3 years ago

3 0

Answer:

Perfect competition is a type of market structure where products are homogenous and there are many buyers and sellers. ... Whilst perfect competition does not precisely exist, examples include the likes of agriculture, foreign exchange, and online shopping.

Explanation:

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A monopolist finds that a person’s demand for its product depends on the person’s age. The inverse demand function of someone of

KiRa [710]

Explanation:

A manufacturer of computer memory chips produces chips in lots of 1000. If nothing has gone wrong in the manufacturing process, at most 7 chips each lot would be defective, but if something does go wrong, there could be far more defective chips. If something goes wrong with a given lot, they discard the entire lot. It would be prohibitively expensive to test every chip in every lot, so they want to make the decision of whether or not to discard a given lot on the basis of the number of defective chips in a simple random sample. They decide they can afford to test 100 chips from each lot. You are hired as their statistician.

There is a tradeoff between the cost of eroneously discarding a good lot, and the cost of warranty claims if a bad lot is sold. The next few problems refer to this scenario.

Problem 8. (Continues previous problem.) A type I error occurs if (Q12)

Problem 9. (Continues previous problem.) A type II error occurs if (Q13)

Problem 10. (Continues previous problem.) Under the null hypothesis, the number of defective chips in a simple random sample of size 100 has a (Q14) distribution, with parameters (Q15)

Problem 11. (Continues previous problem.) To have a chance of at most 2% of discarding a lot given that the lot is good, the test should reject if the number of defectives in the sample of size 100 is greater than or equal to (Q16)

Problem 12. (Continues previous problem.) In that case, the chance of rejecting the lot if it really has 50 defective chips is (Q17)

Problem 13. (Continues previous problem.) In the long run, the fraction of lots with 7 defectives that will get discarded erroneously by this test is (Q18)

Problem 14. (Continues previous problem.) The smallest number of defectives in the lot for which this test has at least a 98% chance of correctly detecting that the lot was bad is (Q19)

(Continues previous problem.) Suppose that whether or not a lot is good is random, that the long-run fraction of lots that are good is 95%, and that whether each lot is good is independent of whether any other lot or lots are good. Assume that the sample drawn from a lot is independent of whether the lot is good or bad. To simplify the problem even more, assume that good lots contain exactly 7 defective chips, and that bad lots contain exactly 50 defective chips.

Problem 15. (Continues previous problem.) The number of lots the manufacturer has to produce to get one good lot that is not rejected by the test has a (Q20) distribution, with parameters (Q21)

Problem 16. (Continues previous problem.) The expected number of lots the manufacturer must make to get one good lot that is not rejected by the test is (Q22)

Problem 17. (Continues previous problem.) With this test and this mix of good and bad lots, among the lots that pass the test, the long-run fraction of lots that are actually bad is (Q23)

7 0

3 years ago

People who worry about the environment and spend money to advance what they see as their personal development and potential is b

RideAnS [48]

Answer:

Concept of green marketing.

Explanation:

The American Marketing Association defines Green Marketing as "the marketing of products that are safe for the environment." In addition, green marketing incorporates activities such as: modifications to the product, the production process, changes in packaging and communication. It is not an easy task to define it, since many definitions interrelate and contradict each other.

Green Marketing is a new and positive trend present in many companies that has taken a great boom in recent years.

Green marketing is a favorable option that companies have to promote their products and at the same time make a contribution to the environment.

The main objective of this type of Marketing is to preserve non-renewable resources, trying to create a positive awareness in consumers of the products or services they offer.

5 0

3 years ago

A contract entered into between the parties by words is called- -

Mumz [18]

A contract entered into between the parties by words is called AN EXPRESS CONTRACT.

An express contract is an exchange of promise between at least two parties wherein the agreed terms are expressed either orally or in writing at a time it is made. Express contract may also be both oral and written at the same time.

8 0

4 years ago

A company produces 1,000 packages of chicken feed per month. The sales price is $4.00 per pack. Variable cost is $1.50 per unit,

Gwar [14]

Answer:

It is more profitable to add the vitamin and sell the product for $5. Income will increase by $260

Explanation:

Giving the following information:

The number of units= 1,000 packages

Actual:

Selling price= $4.00 per pack.

Variable cost is $1.50 per unit

Fixed costs are $1,700 per month.

New option:

Selling price= $5

Variable cost= $1.9

Fixed costs= $2,040

We need to calculate the net income of both options, and choose the more profitable one:

Actual:

Net income= 1,000*(4-1.5) - 1,700= $800

New:

Net income= 1,000*(5 - 1.9)- 2,040= $1,060

It is more profitable to add the vitamin and sell the product for $5.

6 0

3 years ago

Newton bay is a sparsely populated area. the government plans to build an international airport there And announces this plan pu

nalin [4]

The idea of the government will open new opportunities for all most especially for those in the commercial real estate. It will also give a good impact in the local economy along the increasing rate of the employment rate of the affected region.

5 0

3 years ago

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