The prospect of greater market share and setting themselves apart from the competition is an incentive for firms to innovate and make better products. But no firm possesses a dominant market share in perfect competition. Profit margins are also fixed by demand and supply.
A perfectly competitive firm is a price taker, which means that it must accept the equilibrium price at which it sells goods. If a perfectly competitive firm attempts to charge even a tiny amount more than the market price, it will be unable to make any sales.
Perfect competition occurs when there are many sellers, there is easy entry and exiting of firms, products are identical from one seller to another, and sellers are price takers.
The market structure is the conditions in an industry, such as number of sellers, how easy or difficult it is for a new firm to enter, and the type of products that are sold.
Hope this helps:)
Answer:
The explanation of the three factors and they conclusion are below.
Explanation:
To begin with, when we talk about experimental units we refer to the entities that the researcher looks forward to make inferences about, so that means that in this case the experimental units of the situation will be all the people who got to visit the website in both schedules, the morning shift and the afternoon shift.
Secondly, the treatments is understood to be the process or the way, it could be said, that the researchers administrate to the experimental units. So that implicates that in this case the treatments will be the morning with its comfort described and the afternoon on the other side with its discounted prices shown.
Finally, the most probable outcomes for this experiments will be that the statics will show how the people interact with the variables and which of them generated more interest, that being either price or comfort. It will also show the behavior of the people when it comes to understand if the tend more to visit the web site at morning or afternoon.
A(n) (transection) model is an outsourcing fee model that charges a variable fee based on the volume of transactions or operations performed by the application.(transection
Answer:
The correct answer is option C.
Explanation:
The points on the production possibility curve show the efficient utilization of resources. The points below the curve show attainable but inefficient bundles. This is because the points below the curve imply that resources are not fully utilized and there are still some excessive resources left.
The points above the curve show those bundles that are unattainable. This is because these bundles need more resources to be achieved.
Answer:
$13,640 Unfavorable
Explanation:
Data provided
Actual hours = 2,600
Standard hours = 6.0
Standard variable overhead rate = $12.40
The computation of variable overhead efficiency variance is shown below:-
Variable overhead efficiency variance = (Actual hours - Standard hours) × Standard rate
= (2,600 - (250 × 6.0)) × $12.40
= (2,600 - 1,500) × $12.40
= 1,100 × $12.40
= $13,640 Unfavorable
Therefore for computing variable overhead efficiency variance we simply applied the above formula.
