A market system with perfect competition is one in which there are several buyers and sellers interacting with the same goods.
A perfectly competitive market structure is widely found a market in the Indian economy. This market often accepts prices as a single seller cannot change the market price in the economy. Together with other characteristics, this trait sets this market apart from other types of markets.
Let's discuss the characteristics of the perfectly competitive market in detail which are as follows:
1. Large number of buyers and sellers- A commodity has a high number of buyers and sellers when there is ideal competition. Because there are so many customers, each one only purchases a very little portion of the available supply.
2. Homogeneous Products- Products in this market are homogenous in nature which means the products are identical in nature. This suggests that each company's output, in terms of quantity, quality, colour, size, features, etc., is a perfect substitute for the work of the others. This suggests that consumers don't care about what different companies produce.
3. Free entry and exit of firms- In the economy, there are 2 periods: long run and short run. In the long run, there is completely free entry and exit of firms while in the short run, some factors may contribute to the obstruction of entry and exit of firms. This guarantees that all businesses will ultimately make a regular profit or no economic profit, which evaluates the opportunity cost of the business to either continue operating or close.
4. Perfect Knowledge- In this market structure both the sellers and buyers have perfect knowledge of the market factors like price prevailing in the market because of this feature no seller can charge a higher price in the market to any customer.
5. No transportation cost- The products sold in this market structure are generally sold locally so there incur no transportation cost. Also because the same price is prevailing in the market sellers not require to transport anything.
6. No promotion cost- Homogeneous product is sold and uniform prices prevail so the sellers do not need to incur any selling cost like advterisemt for such a product. So the promotional cost incurred by firms is zero.
7. Price Taker- Firms are generally price takers in this structure of the market as sellers cannot influence the price of the goods so they need to accept the price that is prevailing in the market.
8. Perfect mobility of factors of production- Factors of production like Land, Labour and Capital are perfectly mobile in this market structure. These factors can freely move in and out of industry making demand and supply equal to each other.
To know more about Perfect Competition visit:
https://brainly.com/question/29407851
Beth and Brianne had a yard sale to raise money. They donated 2 of their profits to their 10 school sports teams, 3 to the animal shelter, and 1 to the hospital. Which model can be 10 10 used to find the total fraction of their profits that they donated? Explain your thinking.
Answer:
Model 1
Step-by-step explanation:
Model 1 correctly displays the amount of money Beth and Brianne donated and raised at the yard sale. 2/10 + 3/10 + 1/10 = 6/10 (this would be the total amount donated.If 6/10 was donate, 4/10 of the total profit still remains. Model 2 does not represent the total profit that the girls have remaining.Write the rate in lowest terms.
During a bad storm there was 2 in of rain in 4 hr.
The rate in lowest terms is_____?
Answer:
1/2 in/hr
Step-by-step explanation:
2 in / 4h = 1/2 inch per hour
Point q is located on the coordinate grid at (-9.73,-3.32) in which quadrant is point q called
Answer:
III
Step-by-step explanation:
The signs of both x and y are negative in the 3rd quadrant.
__
x-values are negative in the left half-plane.
y-values are negative in the bottom half-plane.
Both coordinates are negative in the lower-left quadrant, number III.
The equation representa Function A and the graph represents Function B
Answer:
D) Slope of Funcation B = - Slope of Function A
Step-by-step explanation:
The equation for the line is:
y=mx+b
Where m is the slope and b is the y-intercept
In this question, we are only interested in the slope.
For function A, we can see that the equation is f(x) = -2x + 1
Going back to the equation, we can see that -2 is the slope
Now for function B, we need to find the slope by looking at the graph.
To do this, you need to remember that the slope is y/x, or rise over run. (This is saying that every time the y happens, the x also happens. For example, if the slope is 1/2, every time the line goes up 1 unit, it goes to the right 2 units)
So for the function, we can see that when you move to the right 1 unit (run), you also move up 2 units (rise), so the slope would be
2
Comparing the slope of both the functions
Function A is -2
and
Function B is 2
So the answer is D
-0.5(14a - 22) = ? this for my work, please help me.
Answer:
-7a+11
Step-by-step explanation:
Geometry: Trig Pile Up Activity
The measure of the unknown angle is 53 degrees.
The length of the unknown side of the blue triangle is 4.43 cm
Right angle triangleRight angle triangle have one of its angles as 90 degrees.
The sum of angle in a triangle is 180 degrees.
Therefore, the measure of the unknown angle can be calculated as follows:
let
x = unknown angle
x = 180 - 90 - 37 = 53°
Therefore, let's find the unknow length of the blue triangle.
tan 53 = opposite / adjacent
tan 53 = 6.9 / a
a = 6.9 / 1.327
a = 5.1996985682
a = 5.2
The green triangle hypotenuse = 5.2 + (5.2 - 2.6) = 7.8 cm
Therefore,
sin 59 = opposite / 7.8
opposite = 7.8 × 0.8571673007
opposite = 6.68590494548
opposite side = 6.69 cm
The hypotenuse of the blue triangle = 6.69 - 2 = 4.69 cm
Therefore,
sin 71 = x / 4.69
x = 4.69 × 0.94551857559
x = 4.43448211956
x = 4.43 cm
learn more on right triangle here: https://brainly.com/question/7894175
Box size | number of mufffons
Small. 4
Medium. 6
Large. 8
Extra large 12
How many muffins are needed to fill all the boxes? Show your work
help me please mark U as BRAINLIEST
Hope this helps. Good luck
If abc is an equilateral triangle bc must be 2cm true or false?
Answer:
I would say False
Which expression is equivalent to the following complex fraction?
Consider the fraction first ;
[tex]{:\implies \quad \sf \dfrac{\dfrac{3}{(x-1)}-4}{2-\dfrac{2}{(x-1)}}}[/tex]
[tex]{:\implies \quad \sf \dfrac{\dfrac{3-4(x-1)}{\cancel{(x-1)}}}{\dfrac{2(x-1)-2}{\cancel{(x-1)}}}}[/tex]
[tex]{:\implies \quad \sf \dfrac{3-4x+7}{2(x-1-1)}}[/tex]
[tex]{:\implies \quad \boxed{\bf{\dfrac{-4x+7}{2(x-2)}}}}[/tex]
Hence, Option B) is required answer
A data set is normally distributed with a mean of 8.1 and a standard deviation of 3.8.
What percentage of the data is above 8.6?
Enter your answer as a number to the nearest whole percentage, like this: 42%
Answer:
45%
Step-by-step explanation:
Your graphing calculator, statistics app, or spreadsheet can tell you that 45% of the normally-distributed data is above 8.6 when the mean is 8.1 and the standard deviation is 3.8.
Kaya rented a limousinefor prom. There was a one-time charge of $100 plus an hourly rate of $50 per hour. Her
total cost for the night was $300. How many hours did she rent the limo?
Answer using 2 step equations and X as variable
Find the value of each variable in the parallelogram.
Answer: m=35, n=110
Step-by-step explanation:
Consecutive sides have sum 180°
n+70=180n=180-70n=110And
2m+110=1802m=180-1102m=70m=35A car travels 80 miles on 3 gallons of gas. At the same rate (in miles per gallon) l, how many miles will the car be expected to travel on 5 gallons of gas?
A. 48
B. 130
C. 133 1/5
D. 160
Answer:
C
Step-by-step explanation:
help help help help math math
Answer:
2
Step-by-step explanation:
the line is straight and is set on 2 so y<2
CAN SOMEONE HELP PLS?? I rlly dont get this.
The little square on the angle means that the entire angle is 90 degrees
The larger angle is made up of two angles of measure 'x - 18' and 'x'
Let's put that into an equation form:
(x - 18) + (x) = 90
2x - 18 = 90
2x = 108
x = 54
So x = 54
Hope that helps!
A 22° B 54° С What is the measure of AD? O 108° 0 27° 126 54°
Answer:
A. 108
sorry if im wrong but if u am I'm so sorry
How do you solve this?
2sinXcosX=sinX
John's employer increased his annual salary of $55,000 by $5,700. What percent was his raise, rounded to the nearest tenths place?
Answer:
3.64% (when rounded to the nearest hundredth)
Step-by-step explanation:
I'm assuming by 5700 you actually mean 57,000.
Calculate the percent change:
(57,000-55,000)/55,000 *100
(2000/55000)x100
0.036363x100
3.6363 rounded to the nearest hundredth is 3.64
A straight line has gradient - 1/2 and y-intercept 3.
Write the equation of the line in the form of ax + by + c
Answer:
[tex] - \frac{1}{2} x - y + 3 = 0[/tex]
Step-by-step explanation:
as shown in drawing
Caden deposited $300 into a checking account. Each week he withdraws $12 from his account.
a) Write an equation to describe this sequence.
b) How many weeks can Caden go before he runs out of money?
Answer:
B i had this text and made a 100
Step-by-step explanation:
b
if xy=2√3 the value of x^4+y^4=?
Step-by-step explanation:
wrong question or incomplete question
Find the simple interest on the loan of $2500 for 2 years at 5%.
$
(Simplify your answer. Round to the nearest cent as needed.)
Answer:
Step-by-step explanation:
simple interest=prt
p=principle amount
r=rate
t=time
here p=$2500
r=5 %=0.05
t=2 years
simple interest=2500×2×0.05=$250
The simple interest on the loan of $2500 for 2 years at 5% is $250
How to determine the value?The formula for calculating simple interest is expressed as;
I = PRT/100
Such that the parameters of the formula are;
P is the principal amountI is the simple interestR is the interest rateT is the timeNow, substitute the values, we get;
Simple interest = 2500 × 5 × 2/100
Multiply the values
Simple interest =25, 000/100
Simple interest =$250
Learn about simple interest at: https://brainly.com/question/25793394
#SPJ2
Convert the unit of weight. Use 1 lb = 16 oz. Express your answer in exact simplest form. 3 lb = _____ oz
3lb= ⋅ = _____oz ?
Answer:
48
Step-by-step explanation:
one pound equals 16 ounces so multiply each side by three and you get that 3 lb equals 48 ounces
Answer:
48 oz
Step-by-step explanation:
We know 1 lb = 16 oz. That means that to find how many oz are in 3 lbs, you have to multiply 16 by 3. That equals 48.
A store sells a workout outfit that consists of a jacket, a t-shirt, and a pair of shorts. The store purchases the jacket for $34, the t-shirt for $9, and the shorts for $12. The percent of markup is 28%. Find the selling price of the outfit.
PS: include show work please I have to submit this in like 3 hours thankyou
Answer:
The Outfit costs $70.4.
Step-by-step explanation:
Add the selling price together
34 + 9 + 12 = 55
Multiply by the markup (Profit)
100% = 1
28% = 0.28
55 x 1.28 = 70.4
A very slow man walks
20 cm.in 0.5 left, what his
velocity in meter per second?
Does anyone know the answers? Need help!!
Answer:
nice handwriting
Step-by-step explanation:
I really need this answer plss
Answer:
No No No No No No No No No No No No No
Find the sum of a finite arithmetic sequence from n=1 to n=5 using the expression -3(4)^n-1
Answer:
Step-by-step explanation:
Arithmetic sequaence:
[tex]\sf a_n = -3(4)^n - 1\\\\a_1=-3*4^1 -1\\\\ = -3*4 - 1\\\\ = -12 - 1\\\\a_1=-13[/tex]
[tex]a_2 = -3*4^2-1\\[/tex]
= -3*16 -1
= -48 - 1
= -49
difference = second term - first term
= -49 -(-13)
= -49 + 13
d = -36
[tex]\boxed{S_n=\dfrac{n}{2}[2a + (n-1)d]}[/tex]
[tex]\sf S_5=\dfrac{5}{2}*[2*(-13} + 4*(-36)]\\\\ =\dfrac{5}{2}[-26-144]\\\\=\dfrac{5}{2}*(-270)[/tex]
= 5*(-135)
= -675
135.99 rounded to two significant figures
Answer:
1.3×10^1
Step-by-step explanation:
For this, you need to use scientific notation
First, let's round up the decimal points
135.99 = ~ 136
1.3 ×.10^1