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2 years 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]2 years 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.

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Presented below is a combined single-step income and retained earnings statement for Hardrock Mining Co. for 2017.

Gennadij [26K]

Answer:

(a) Net income $198,788

(b) Retained earnings at 12/31/17 = 3,145,448

Earnings per share for the year is $0.02 per share. That is:

Earnings per share = Net income / Number of common stock outstanding = $198,788 / 10,000,000 = $0.02 per share

Explanation:

Note: See the attached excel file for the multiple-step income statement.

A multi-step income statement refers to an income statement in which the gross profit and the categories of each expenses and income are giving in details before the net income of a company in a specific period is obtained.

The multiple-step income statement of Hardrock Mining Co. for 2017 is given in the attached excel file in which we have the following:

(a) Net income $198,788

(b) Retained earnings at 12/31/17 = 3,145,448

Calculation of earnings per share for the year

The earnings per share can be calculated as follows:

Earnings per share = Net income / Number of common stock outstanding = $198,788 / 10,000,000 = $0.02 per share

Therefore, earnings per share of the company for the year is $0.02 per share.

The note to the account that disclose earnings per share data in the financial statement of Hardrock Mining Co. for 2017 will appear as follows:

Note to the account:

Earnings per share for the year is $0.02 per share. That is:

Earnings per share = Net income / Number of common stock outstanding = $198,788 / 10,000,000 = $0.02 per share

Download xlsx

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Joanna is deciding between consuming Good X and Good Y. At her current level of consumption, her marginal utility per dollar for

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Answer:

D) consume more of Good X or less of Good Y until the marginal utility per dollar for Good X and Good Y is equal.

Explanation:

Since Joanna's marginal utility per dollar is higher for good X than per good Y, then she must consume a combination of both goods until their marginal utility per dollar is equal.

Since marginal utility is diminishing, if she reduces her consumption of good Y, maybe it will increase and match X's. Or she can choose to consume more X until its marginal utility diminishes and matches Y's.

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2 years ago

The sales for January, February, and March are $150,000, $180,000 and $220,000, respectively. For any particular month of sa

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Answer:

Total cash= $193,000

Explanation:

Giving the following information:

Estimated sales ($):

January= $150,000

February= $180,000

March= $220,000

40% in cash from that same month of sales

50% in cash from the previous month's sales

10% in cash from the sales from two months ago

Cash collection March:

From March= 220,000*0.4= 88,000

From February= 180,000*0.5= 90,000

From January= 150,000*0.1= 15,000

Total cash= $193,000

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True or False: Cell phone chargers are considered hazmat products and cannot be stowed with items like books

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Answer:

I would say false

Explanation:

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A stock index is valued at $800 and pays a continuous dividend at the rate of 3% per year. The 6-month futures contract on that

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Answer:

Possible options:

A. 38

B. 40

C. 42

D. There is no arbitrage opportunity.

Answer is B

Explanation:

With the given data, the no-arbitrage futures price should be; 800e(0.025-0.03)*0.50 =798−Since the market price of the futures contract is lower than this price there is an arbitrage opportunity. The futures−contract could be purchased and the index sold.−

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