All categories

1 year ago

True or false: the market for tomatoes does exhibit the two primary characteristics that define perfectly competitive markets.

2 answers:

8 0

True - The tomato exhibits characteristics of a perfectly competitive market. Firstly, it is made up of many buyers and sellers. Secondly, all firms that partake in the trade do not control the market. Instead, they are price takers. As such, they sell tomatoes according to the prevailing market prices per unit of tomatoes. All firms also have a relatively small market share.

Alinara [238K]1 year ago

7 0

It is true!

Further Explanation:

The tomato exhibits characteristics of a perfectly competitive market:

It is comprised of numerous purchasers and merchants.

All organizations that share in the exchange don't control the market.

Rather, they are value takers. in that capacity, they sell tomatoes as indicated by the overarching business sector costs per unit of tomatoes. all organizations likewise have a moderately little piece of the pie.

perfectly competitive market:

In a perfectly competitive market, different organizations enter the market effectively without hindrances and sell indistinguishable items. They approach to perfect learning, and nobody firm can control the market.

perfectly competitive market mean:

A perfectly focused firm is a value taker, which implies that it must acknowledge the harmony cost at which it sells products. Immaculate challenge happens when there are numerous merchants, there is simple passage and leaving of firms, items are indistinguishable starting with one dealer then onto the next, and venders are value takers.

Case of a perfectly competitive market::

A perfectly competitive market mean is a theoretical outrageous; in any case, makers in various enterprises do confront numerous contender firms selling exceptionally comparative merchandise; thus, they should frequently go about as value takers. Business analysts regularly utilize farming markets for instance of impeccable challenge.

Subject: business

Level: college

Keywords: The tomato exhibits characteristics of a perfectly competitive market, perfectly competitive market, Case of a perfectly competitive market.

Learn more about evolution on:

brainly.com/question/4513662

brainly.com/question/10855426

You might be interested in

While JIT systems have many benefits, they:______.

Fiesta28 [93]

Answer:

Option A

Make the logistics function more complicated

Explanation:

The JIT inventory system refers to the Just In Time inventory system.

The just-in-time (JIT) inventory system is a management strategy where warehousing of parts is minimum. Rather, the raw material supply is aligned accurately with the production schedule of a particular good.

For example, in car production, the various car parts are supplied by various manufacturers at just the right time so they can be assembled to make up the car in the assembly line. The car assembly companies may not necessarily have to store raw materials in their ware house since the raw materials arrive "Just in time".

However, aligning the supply of raw materials accurately with production time, is a complicated task especially when a lot of manufacturers are involved and can need to plant down time if care is not taken. This makes the logistics function more complicated.

5 0

2 years ago

Read 2 more answers

One year ago, Debra purchased 5,400 shares of KNF stock for $218,056. Today, she sold those shares for $19.49 a share. What is t

kramer

Answer:

Capital gain yield will be -51.73%

So option (d) will be the correct answer

Explanation:

We have given that Debra purchased 4500 shares of KNF stock for $218056

So price of one share $=\frac{218056}{5400}=$48.380$

So the beginning price = $40.380

She sold the share at price of 19.49 per share

So ending price = $19.49

We have to find the capital gain yield

We know that capital gain yield is given by

Capital gain yield $=\frac{end\ price-beginning\ price}{begninning \ price}=\frac{19.49-40.380}{40.390}=-51.73$ %

So option (d) will be correct option

7 0

2 years ago

You are the financial manager for a recreation center that has signed an option to purchase new elliptical machines for $22,500

maria [59]

Answer:

Present Value= $19,652.37

Explanation:

Giving the following information:

You are the financial manager for a recreation center that has signed an option to purchase new elliptical machines for $22,500 in two years. If you have an investment opportunity that guarantees 7% interest.

PV= FV/(1+i)^n

PV= 22,500/ (1.07^2)= $19,652.37

6 0

2 years ago

Periodic inventory by three methods The beginning inventory for Midnight Supplies and data on purchases and sales for a three-mo

dybincka [34]

Answer:

1. We have:

Inventory on March 31 = $1,010,625

Cost of merchandise sold for the three-month period = $10,891,875

2. We have:

Inventory on March 31 = $881,250

Cost of merchandise sold for the three-month period = $11,021,250

3. We have:

Inventory on March 31 = $980,975.27

Cost of merchandise sold for the three-month period = $10,921,524.73

4. We have:

Details FIFO LIFO Weighted Average

$ $ $

Sales 19,875,000 19,875,000 19,875,000

Cost of Goods sold (10,891,875) (11,021,250) (10,921,525)

Gross Profit 8,983,125 8,853,750 8,953,475

Inventory, March 31 1,010,625 881,250 980,975

Explanation:

1. Determine the inventory on March 31 and the cost of merchandise sold for the three-month period, using the first-in, first-out method and the periodic inventory system.

Note: See part 1 of the attached excel file for the determined inventory on March 31 and the cost of merchandise sold for the three-month period, using the first-in, first-out method and the periodic inventory system.

From the part 1 of the attached excel file, we have:

Inventory on March 31 = $1,010,625

Cost of merchandise sold for the three-month period = $10,891,875

2. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system.

Note: See part 2 of the attached excel file for the determined inventory on March 31 and the cost of merchandise sold for the three-month period, using the last-in, first-out method and the periodic inventory system.

From the part 2 of the attached excel file, we have:

Inventory on March 31 = $881,250

Cost of merchandise sold for the three-month period = $11,021,250

3. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the weighted average cost method and the periodic inventory system.

Note: See part 3 of the attached excel file for the determined inventory on March 31 and the cost of merchandise sold for the three-month period, using the weighted average cost method and the periodic inventory system.

From the part 3 of the attached excel file, we have:

Inventory on March 31 = $980,975.27

Cost of merchandise sold for the three-month period = $10,921,524.73

4. Compare the gross profit and the March 31 inventories, using the following column headings.

Details FIFO LIFO Weighted Average

$ $ $

Sales 19,875,000 19,875,000 19,875,000

Cost of Goods sold (10,891,875) (11,021,250) (10,921,525)

Gross Profit 8,983,125 8,853,750 8,953,475

Inventory, March 31 1,010,625 881,250 980,975

Download xlsx

6 0

1 year ago

Cesar claims he found a definite way to save money, "Buy direct from the manufacturer. Any time intermediaries get involved, you

Anni [7]

Answer:

Explanation:

Great question, intermediaries are sometimes necessary since they provide a service in which you might not be able to get the product if their service wasn't provided. That being said we can say that Caesar's claim is not valid in many cases. Intermediaries tend to add an additional cost to a certain product, but like mentioned above they are providing an essential value. In many cases the value they create more than offsets the costs they add. Therefore the validity of Caesar's claim is dependent on the intermediaries provided value.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

3 0

2 years ago