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The text states that four conditions are necessary for the existence of a perfectly competitive market. Discuss in your own words each one.
a) Numerous participants: Roughly how many sellers do you think are needed to make a market perfectly competitive?
b) Homogeneity of product: How would perfect competition be altered if buyers could distinguish between the products of different producers?
c) Freedom of entry and exit: How might this condition be violated? What sorts of barriers to entry or exit might exist?
d) Perfect information: What exactly needs to be known, and by whom, in order to make competition perfect?
Distinguish between, (i) short-run variable costs & long-run variable costs, and give an example of each one; (ii) the marginal cost & the average cost of production
fixed expenses are incurred equally in the two half year periods,calculate
I'm having a hard time with this, can you please help? I know the dates are imparative also in finding the solution. Stevens purchased an auto on Jan 1, 2001. On December 31, 2003
What is the major value of the weighted cost of capital calculation for the firm?
OVERHEAD VARIANCES Unlike labour and direct material, the manufacturing overhead is not completely variable with the level of production. So, standard costs for factory overh
Motivation - Behavioural Aspects of Standards Variance analysis and standards setting requires to be carried out like it motivates managers and other employees. It should not
behavioral aspect of standard costing
Draw the relevant diagrams for a typical farm, and for the market as a whole, when the market for wheat is in long run equilibrium. Assume the farm faces perfect completion. (hint,
1. Develop a list of tasks that a newly appointed CFO would be responsible for, including relevant reports they will access and review and the schedule for when this would occur.
Problem: A satellite is launched into Earth orbit by a Delta II launch vehicle (LV). The Delta LV's engines do not perform as expected, and at upper-stage burnout the satellite
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