All categories

2 years ago

Which market structure is most prevalent in reality? Explain.

Business

2 answers:

kaheart [24]2 years ago

5 0

Answer:

Perfect competition is an ideal type of market structure where all producers and consumers have full and symmetric information, no transaction costs, where there are a large number of producers and consumers competing with one another. Perfect competition is theoretically the opposite of a monopolistic market.

Explanation:

Pls mark me the Brainliest..pls..

Korolek [52]2 years ago

5 0

Let's review different market structures and their characteristics. Monopolistic competition is the most common market structure, characterized by brand name and slightly differentiated products with many substitutes.

- BRAINLIEST answerer ❤️✌

You might be interested in

Vincent and Jean are two cooks who work in a village. Each of them can either bake cakes or make pizzas. Every ingredient is rea

ElenaW [278]

Answer: B. Jean

Explanation:

Having Absolute Advantage in the production of a good means that you can produce more of that good given the same resources or at least the same Quantity as others given lower resources.

From the scenario above therefore, Jean has the Absolute Advantage in producing Cakes as Jean can bake 12 cakes in an hour while Vincent can only bake 10.

6 0

4 years ago

You have just won the lottery and will receive $460,000 in one year. You will receive payments for 27 years, and the payments wi

Zepler [3.9K]

Answer:

The present Value of my winnings = $4,578,716.35

Explanation:

An annuity is a series od annual cash outflows or inflows which payable or receivable for a certain number of periods. If the annual cash flow is expected to increase by a certain percentage yearly, it is called a growing annuity.

To work out the the present value of a growing annuity,

we the formula:

PV = A/(r-g) × (1- (1+g/1+r)^n)

I will break out the formula into two parts to make the workings very clear to follow. So applying this formula, we can work out the present value of the growing annuity (winnings) as follows.

A/(r-g)

= 460,000/(12%-3%)

= $5,111,111.11

(1- (1+g/1+r)^n

1 - (1+3%)/(1+12%)^(27)

=0.8958

PV = A/(r-g) × (1- (1+g/1+r)^n)

$5,111,111.11 × $0.8958

= $4,578,716.35

The present Value of my winnings = $4,578,716.35

5 0

4 years ago

The Assembly Department produced 1,000 units of product during March. Each unit required 1.25 standard direct labor hours. There

frutty [35]

Answer:

Debit Work in process for $15,625

Debit Direct labor time variance for $625

Credit Direct labor rate variance for $650

Credit Wage payable for $15,600

Explanation:

Before preparing the journal, the following calculations are done first:

Wage payable = Actual hours * Actual rate per hour = 1,300 * $12 = $15,600

Direct labor time variance = (Actual hours - Standard hours) * Standard direct labor rate = (1,300 - (1,000 * 1.25)) * $12.50 = $625 Unfavorable

Note: Direct labor time variance is Unfavorable because Actual hours is greater than Standard hours.

Direct labor rate variance = (Actual rate - Standard rate) * Actual hours = ($12 - $12.50) * 1,300 = -$650 Favorable

Note: Direct labor rate variance if Favorable because Actual rate is lower than the Standard rate.

Work in process = Wage payable + Absolute value of direct labor rate variance - Direct labor time variance = $15,600 + $650 - $625 = $15,625

The journal entries will now look as follows:

Date Particulars Debit ($) Credit ($)

Mar. 31 Work in process 15,625

Direct labor time variance 625

Direct labor rate variance 650

Wage payable 15,600

(To record the direct labor in the Assembly Department.)

4 0

3 years ago

Paradise Corp. has determined a standard labor cost per unit of $10.20 (1 hour × $10.20 per hour). Last month, Paradise incurred

bezimeni [28]

Answer:

Direct Labor Rate Variance = $825 favorable

Direct Labor Efficiency Variance = $510 favorable

Total Direct Labor Spending Variance = $1,335 favorable

Explanation:

The computations are shown below:

Direct Labor Rate Variance

= (Standard rate - Actual rate) × Actual hours

= ($10.20 - $16,005 ÷ 1,650 labor hours) × 1,650 direct labor hours

= ($10.20 - $9.7) × 1,650 direct labor hours

= $825 favorable

Direct Labor Efficiency Variance

= (Standard Hours allowed - Actual hours) × Standard rate

= (1,700 units × 1 hour - 1,650 hours) × $10.20

= (1,700 hours - 1,650 hours) × $10.20

= $510 favorable

Total Direct Labor Spending Variance

= Standard cost - actual cost

= 1,700 hours × $10.20 - $16,005

= $17,340 - $16,005

= $1,335 favorable

3 0

3 years ago

Suppose total benefits and total costs are given by B(Y) = 100Y − 8Y2 and C(Y) = 10Y2. Then marginal benefits are: 14) ______

Dahasolnce [82]

Answer:

C) 100 − 16Y

Explanation:

The computation of the marginal benefit is shown below:

The marginal functions represent the derivatives with respect to the total functions as compared to Y.

so, the marginal benefit function is MB(Y)=dB(Y) ÷ dY

d (100Y - 8Y^2} ÷ dY

= 100 -16Y

Therfeore the option c is correct

4 0

3 years ago

Which market structure is most prevalent in reality? Explain.​

Which market structure is most prevalent in reality? Explain.