The demand curve of a firm that is perfectly competitive is horizontal at the market price. As a result, every unit sold will result in it receiving the same price. The difference in total revenue from selling one more unit at the constant market price is the marginal revenue that the company receives.
What is a Demand Curve?The relationship between the cost of an item or service and the quantity demanded over a specific time period is represented graphically by the demand curve. The price and quantity demanded are often represented with the price on the left vertical axis and the horizontal axis, respectively. A demand curve in economics is a graph that shows the relationship between the cost of a given good and the amount that is desired at that cost. Demand curves can be applied to the price-quantity connection for either a specific consumer or for every consumer in a given market.
To learn more about Demand Curve click,
https://brainly.com/question/1139186
#SPJ4
a business strategy that integrates the functions of sales, marketing, and customer service, using technology and massive databases of information is called
A business strategy that integrates the functions of sales, marketing, and customer service, using technology and massive databases of information is known as customer relationship management.
A program known as customer relationship management is used to handle all interactions and relationships among your company's clients (CRM). Establishing commercial ties can help your company expand, and that is the only objective. CRM tools enable businesses to improve profitability, manage operations, and stay in touch with their consumers.
A CRM system offers everyone a better approach to managing the external connections and relationships that are essential to success, regardless of whether they work in sales, customer service, business development, recruiting, marketing, or any other area of the firm.
To learn more about Customer relationship management visit: https://brainly.com/question/28348292
#SPJ4
multiple select question select all that apply which of the following business expenses are disallowed or limited for tax purposes? (check all that apply.) multiple select question. rent expense advertising expenses political contributions bribes and kickbacks lobbying expenses interest expense paid on loans to purchase automobiles owned and used by the business entertainment expense interest expense paid on loans to purchase tax-exempt securities
The following business expenses are disallowed or limited for tax purposes are Entertainment expense, Political contributions, Lobbying expenses, Interest expense paid on loans to purchase tax-exempt securities, Bribes and kickbacks.
An investment in which the income generated is not subject to local, state, or federal taxes is known as a tax-exempt security. Municipal bonds, which are obligations of a state, territory, or municipality, are the most common type of tax-exempt securities. Federal income taxes may not apply to the interest on U.S. Savings Bonds for some investors.
Federal tax isn't applied to income from securities that are tax-exempt, including dividends and interest. A tax-exempt security might not be subject to any taxes at all, depending on the investor's location. On general obligation bonds issued by his or her home state, an in-state resident typically receives a state and federal tax exemption.
Learn more about Tax-exemption, here
https://brainly.com/question/28875581
#SPJ4
what is a sequence of connected steps that enables the organisation to act efficiently with minimal overlapping tasks and resources in order to implement the social media marketing plan effectively?
A social media workflow is a sequence of connected steps that enables the organization to act efficiently with minimal overlapping tasks and resources to implement the social media marketing plan effectively.
What is social media workflow?A social media workflow is a process for organizing the writing, posting, and marketing of your social media content. It comprises every process from ideation to analysis that goes into developing, preparing, posting, and promoting your content. It is managed by several members of the social media team.A social media workflow is a series of interconnected procedures that enables the business to act quickly with the least amount of duplication of effort and resources possible to effectively implement the social media marketing strategy.Essentially, a media asset management workflow is a description of all associated operations, including media generation, media preparation, and media dissemination.To learn more about social media workflow refer to:
https://brainly.com/question/3653791
#SPJ4
a stock just paid a dividend of $5.69 and is expected to maintain a constant dividend growth rate of 4.2 percent indefinitely. if the current stock price is $85, what is the required return on the stock?
The annualized rate pace of development that a specific stock's profit encounters over the long run is known as the profit development rate. Many established businesses aim for regular dividend increases.
The required return is equal to (D1/Current price) plus the growth rate, which is equal to [(5.69*1.042)/85] plus 0.042.
How is the constant dividend growth rate determined?P = D1 / (r - g) is the Gordon Growth Model formula, where:
P is the current stock price.
D is the dividend amount for the following year.
g is the anticipated constant rate of dividend growth over time.
r is the required return rate.
Learn more about growth rate here:
https://brainly.com/question/25849702
#SPJ4
mary and bill enter into an agreement in which mary agrees to sell to bill her used television set for the sum of
Mary and bill enter into an agreement in which mary agrees to sell to bill her used television set for the sum enforceable because the court will not interfere with the party's determination of the price.
A gentlemen's agreement, or gentleman's settlement, is a casual and legally non-binding settlement among or greater events. It is typically oral, however, it can be written or really understood as a part of an unstated settlement through a conference or thru mutually-beneficial etiquette.
The essence of a gentlemen's settlement is that it is based upon the honor of the events for its fulfillment, instead of being in any manner enforceable. It is wonderful for a criminal settlement or contract.
Learn more about the agreement here
https://brainly.com/question/2201430
#SPJ4
what causes the different numbers between a master budget and a flexible budget? a. sales price. b. fixed costs. c. input price. d. sales volume.
A master or static budget only covers one level of activity, whereas a flexible budget covers multiple levels of activity at different total costs.
What distinguishes flex budgets from master budgets?Compared to flexible budgets, static budgets only account for one level of production volume. A master budget is another name. A consolidated budget that is simple to calculate for a variety of production volume levels is called a flexible budget.
What distinguishes a master budget from other budgets?One level of production volume is taken into account in a master budget, which is static.On the other hand, a budget that can be adjusted in response to a variety of production outputs separates fixed costs from variable costs.
Learn more about flexible budget here:
https://brainly.com/question/25353134
#SPJ4
modern supply chain management systems access national weather service databases to track weather events that could impact logistics. this is an example of using mis to monitor which element of a pestel analysis?
Modern supply chain management systems access national weather service databases to track weather events that could impact logistics. This MIS is used to monitor Environmental element of a pestel analysis.
A supply chain is a group of people and businesses who work together to create products and deliver them to customers. The chain's links start with the companies that produce the raw materials and end when the van delivers the finished item to the customer. A supply chain is made up of all the steps taken to deliver a finished good or service to the customer. A distribution centre may then receive the finished goods that have been transported from production after the raw materials have been obtained.
The term "logistics" describes the overall process of controlling the way resources are obtained, stored, and delivered to their intended location. Determine the effectiveness and accessibility of potential distributors and suppliers as part of the logistics management process.
learn more about supply chain here
https://brainly.com/question/17191657
#SPJ4
bizonline uses an electronic agent, or e-agent, to perform certain tasks in e-commerce. with respect to the e-agent's actions, bizonline is bound by
Bizonline uses an electronic agent, or e-agent, to perform certain tasks in e-commerce. with respect to the e-agent's actions, bizonline is bound by al of their actions.
The phrase "electronic agent" refers to a computer program as well as other automated systems that are utilized on its own to carry out an action or react to an electronic record or performance in its entirety or in part without being reviewed or controlled by a human being at the time.
Consider giving agents some level of legal individuality or, at the opposite extreme, treating them as nothing more than communication tools as some of the several doctrinal alternatives that might be appropriate. Another alternative is whether integrated smart agents should be regarded as agents underneath the law of agency.
It is suggested that the objective theory of consent applies to the utilization of electronic agents in contracting after a comparison of the subjective and objective theories of consent.
Learn more about electronic agents here:
https://brainly.com/question/14036184
#SPJ4
pam exchanges a rental building, which has an adjusted basis of $520,000, for investment land which has a fair market value of $700,000. in addition, pam receives $100,000 in cash. what is the recognized gain or loss and the basis of the investment land?
The realized gain or loss plus the basis of the investment property is $700,000. As a result, the correct answer is $700,000.
What is an investment?Investment is the commitment of money to the acquisition of an asset with the goal of increasing its value over time. Investment necessitates the sacrifice of a current item, such as time, money, or effort.
Given that,
Fair market value = 700,000
Cash received = 100,000
Adjusted basis = 520,000
Recognized gain:
= Value received - Adjusted basis
= [Fair market value + Cash received] - Adjusted basis
= [700,000 + 100,000] - 520,000
= $280,000 Gain
The basis of investment land is equal to the fair market value of the investment land.
Basis investment land = $700,000
To learn more about investment, click
https://brainly.com/question/15105766
#SPJ4
if interest rates decline, bondholders will earn . a. a higher current yield b. a higher maturity value on the maturity date c. no capital gain on the bond's maturity d. a lower rate of return on reinvested cash flows e. a lower coupon interest on the bond
The total rate of return that a bondholder anticipates earning if the bond is held until maturity is referred to as YTM in the context of bonds.
A single Bond's YTM formula is as follows:[Annual Interest plus [(FV-Price)/Maturity]] / [(FV+Price)/2] is the yield to maturity.
What is YTM, or yield to maturity?
If a bond is held until its maturity, the expected total return is known as yield to maturity (YTM).A long-term bond yield, yield to maturity is expressed as an annual rate.To put it another way, it is the bond's internal rate of return (IRR) if the investor holds onto the bond until maturity and all payments are made on time and are reinvested at the same rate.
Respect development is likewise alluded to as "book yield" or "reclamation yield."
Learn more about YTM here:
https://brainly.com/question/26376004
#SPJ4
in the past decades, direct-to-consumer (dtc) genetic tests have become widespread. which u. s. federal agency is responsible for the future regulation of these tests?
In the past decades, direct-to-consumer (ditch) genetic tests have become widespread. u. s. federal agency is responsible for the future regulation of these tests FDA.
When did genetic testing start to gain traction?The development of DNA testing in the late 1970s and early 1980s opened the door for stronger methods of identifying and establishing biological ties.
Is genetic testing approved by the FDA?The FDA has regulatory authority over genetic tests since the organization views them as a particular category of medical device. Up until recently, the FDA decided to treat the vast majority of genetic tests with "enforcement discretion.
Do genetic tests evolve with time?But that might alter. Genetic mutations are routinely "reclassified" by laboratories.
To Know more about FDA.
https://brainly.com/question/9072310
#SPJ4
the result of the bretton woods agreement was that fixed exchange rates were desirable. however, most countries preferred a floating exchange rate instead. true or false
The answer is true, A fixed exchange rate is a system used by a government or the central bank that links the value of the nation's official currency to the currency of the another nation or the price of gold.
A fixed exchange rate system's goal is to maintain a currency's value within a specific range. The Fixed exchange rates are not allowed to move freely or adjust to the value daily shifts in supply and the demand. The government determines the currency's exchange rate. The European Central Bank (ECB) may set its exchange rate, for instance, at $1 = €1.
To learn more about fixed exchange, click here.
https://brainly.com/question/14160520
#SPJ1
the person most likely to conduct an interview with the client to obtain feedback on the projects team's performance is a(n) . senior manager accountant vendor staff person laborer
A senior manager is the most likely to hold an interview with the customer to seek feedback on the project team's performance. Thus, the right option is the senior manager.
What are the senior manager's responsibilities?Senior managers plan and direct a group of people inside a company or department. A senior manager's responsibility is to supervise that person in order to guarantee that business operations operate smoothly and that each individual's performance satisfies corporate and industry standards.
Responsibilities of a senior manager:
Managers must be guided, mentored, and managed. Approve requests for employment and dismissal.Establish organizational goals.Make difficult choices.Budgets for departments are managed.Improve staff performance.To learn more about management, click
https://brainly.com/question/28017308
#SPJ4
how can a manager guarantee the coordination of many people doing many specific jobs while meeting the quality expectations of customers? group of answer choices always observe them develop standards hire experienced help discipline them rigorously
The manager can Develop Standard to guarantee the coordination of many people doing many specific jobs while meeting the quality expectations of customers.
Hence, Option 2 is correct.
What is the role of manager?
Clearly communicate the goal to employees.Select the right individuals for each task.Motivate employees to reach each objective.Set appropriate deadlines.Check in with employees to ensure they’re making progress.Set key performance indicators to measure success.Regularly review performance metrics.Make strategy adjustments as necessaryTo maintain coordination.By Developing Standard a manager can maintain and fulfill the expectations of customers and maintain coordination between the people.
Hence, Option 2 is correct.
To know more about Manager from the given link
https://brainly.com/question/24567659
#SPJ4
suppose that a monopolist increases production from 10 units to 11 units. if the market price declines from $30 per unit to $29 per unit, marginal revenue for the eleventh unit is:
Marginal revenue for the eleventh unit is $28
Marginal Revenue = Change in Revenue / Change in Quantity
= -$1 / 1 unit
= -$1
=$29 + (-$1) = $28
In a competitive market, the price equals the marginal cost (P = MC), as shown in market price Pc and Qc are the competitive price and quantity.
Where marginal revenue equals marginal cost (MR = MC), the monopoly price and quantity are found: PM and QM. When a monopolist raises sales by one unit, it receives some marginal revenue from selling that extra unit, but it also loses some marginal revenue because every other unit must now be sold at a lower price. Profit for a company equals total revenue less total cost (TC), and profit per unit equals market price minus average cost.
To learn more about Marginal revenue, click here.
https://brainly.com/question/13873790
#SPJ4
suppose the monopolist has total fixed costs equal to $5 and a variable cost equal to $4 per unit for all units produced. what is the total profit if she operates at her profit-maximizing price?
Currently, the monopolist is maximising its earnings, which total $250.
a market arrangement in which there is just one seller and only one type of goods available. As the only vendor of the goods with no viable alternatives, the seller in a monopoly market has no rivals.
How is monopoly profit determined?
The average cost (AC) curve is used by monopolists to determine their production costs, which are then deducted from total revenue to determine their profit or loss (TR). Remember that businesses use their average cost (AC) to evaluate profitability from earlier lectures.
There are three main strategies for maximising monopolies' positive social effects: lowering or eliminating entry barriers through antitrust laws to allow rival businesses to enter the market; controlling the monopoly's pricing;
Learn more abpout monopoly profit
https://brainly.com/question/7217942
#SPJ4
annie, who works for a banking organization, recommends that her employers utilize the iot in the form of video surveillance cameras and smart locks. which business benefit of the iot does annie probably think they will gain from this change?
The business benefit of the IoT that Annie probably thinks will gain from this change is the safety of the organization's premises, and also the safety of the digital and physical assets in the organization.
What is IoT?IoT or the Internet of things is described as the computer devices that are highly interconnected digital as well as mechanical devices. It is important to mention that such devices contain unique identifiers of the UIDs that allow data transfer through a network. Such interconnected devices do not require human interaction and can work remotely.
In this scenario, Annie recommended that the banking organization can use IoT devices. This is because such devices will allow remote monitoring of the organization's premises. It can monitor, track, and can even raise an alarm if any unwanted activities are sensed. Hence, such a device is capable of keeping digital and physical assets safe.
It can be concluded that the business benefit of the IoT that Annie probably thinks will gain from this change is the safety of the organization's premises and also the safety of the digital and physical assets in the organization.
To know more about, the Internet of things, check this link:
https://brainly.com/question/29240985
#SPJ4
whenever ad or as shifts and puts the economy out of long-run equilibrium, as has a natural tendency to shift in such a way as to bring the economy back into long-run equilibrium. if the economy always eventually comes back to long-run equilibrium, the reason that the government even tries to implement policies to bring the economy into equilibrium is that:
The reason that the government even tries to implement policies to bring the economy into equilibrium is that the appropriate government response can eliminate the long-run effect on prices and can speed up the process of reducing unemployment.
If an financial system is stated to be in long-run equilibrium, then Real GDP is at its capacity output, the real unemployment price will identical the herbal price of unemployment (approximately 6%), and the real fee stage will identical the expected fee stage.
Long-run equilibrium occurs while the contemporary output is likewise identical to capacity output. This is verified through the intersection of SRAS, AD, and LRAS. If the fee stage will increase above equilibrium, then you definitely have a surplus in GDP. This way that your combination deliver is more than your combination demand.
Learn more about GDP here:
https://brainly.com/question/1383956
#SPJ4
you're building a product feed for a client who is new to shopping ads, and you notice the client's inventory data isn't accurate. what two things may happen if the feed is uploaded with data quality issues
1. The client may see a decrease in traffic and conversions, as potential customers may be discouraged from clicking on ads if they believe the product won't be in stock.
2. The client may also accrue additional costs, as they may be charged for clicks that don't result in a purchase. Inaccurate inventory data can also lead to ads being disapproved.
There are a few things that could happen if a client's inventory data isn't accurate when uploaded for a Shopping ad campaign:The client could see a decrease in traffic and conversions, as potential customers may not be able to find the products they're looking for.The client could also see an increase in their cost-per-click (CPC) rate, as their ads may not be as relevant to searchers as those of their competitors.To avoid these issues, it's important to make sure that all inventory data is accurate before uploading it for a Shopping ad campaign. This includes ensuring that product prices, descriptions, and images are all up-to-date and match those on the client's website.
Learn more about inventory data at : https://brainly.com/question/28487133
#SPJ4
A company that wanted to provide a single, unified entry point to its network that would allow different types of users access to different types of resources could do so by establishing a(n)
A company that wanted to provide a single, unified entry point to its network that would allow different types of users access to different types of resources could do so by establishing an enterprise portal.
Companies who wished to offer a single or unified entry point to their network so users could access various resources employed the corporate portal.
The Enterprise Portals are information portals that connect data and business processes while providing users with access to that data.
The corporate portals make sure that the company's employees may get the information they require quickly and effectively.
Therefore, businesses that intended to give users access to many resources through a single or unified entry point into their network employ corporate portals.
To know more about portals click here:
https://brainly.com/question/13992009
#SPJ4
Traditionally, an employer or employee could end a work relationship at any point, without a specified.
Traditionally, an employer or employee could end a work relationship at any point, without a specified contract.
A contract is a document that bonds an employer to an employee. If there is no contract then the employer or the employee can leave the companionship at any time.
If a company wants that an employee works for the company for a specified amount of time, then a contract has to be made between the company and the employee. Without a contract, there is no right of an employer to an employee and vice versa.
Hence, a working relationship can be ended at anytime if there is no contract.
To learn more about contract, click here:
https://brainly.com/question/5746834
#SPJ4
in data and process modeling, a(n) shows what the system must do, regardless of how it will be implemented physically.
displays what the system should do is logical.
Data modeling is the process of creating a visual representation or blueprint that defines the information gathering and management systems of various organizations. Data modeling gives you an opportunity to understand data and choose the right technology to store and manage this data. Business stakeholders design data models before they engineer database solutions for their organizations.
The logistics data model of reporting contextual class data into technical data structures shows what needs to be done. The logical data model provides more detail about the data concepts and complex data relationships identified in the context of the data model. The logical model is technology agnostic, and you can implement it in any database language. Data engineers and stakeholders usually make technology decisions after they have created a logical data model.
Learn more about data modeling at:
https://brainly.com/question/14866336?referrer=searchResults
#SPJ4
james advertises in the newspaper to sell his used car for $6,000. eric test drove the car and then offered james $5,400 for the car. in this case:
If James advertises in the newspaper to sell his used car for $6,000. eric test drove the car and then offered james $5,400 for the car. in this case: James will be at loss.
What is advertisement?Advertisement can be defined as the way of creating awareness about a product so as to attract potential buyers which inturn can help to increase sales.
Based on the scenario James will be at loss of the amount of $600 ($6,000 - $5,400) if he accept what eric offers after driving the car. Since James has already advertised the car for $6,000. On the other hand James may wish not to accept the offer and may only accept the offers if eric offer to pay $6,000.
Therefore james will be at loss if he accept the offer.
Learn more about advertisement here:https://brainly.com/question/1658517
#SPJ1
a company implements lean, which result are we most likely to observe group of answer choices an increase in work in process inventory a reduction in employee morale employees being required to work faster a decrease in changeover time (set up time)
a reduction in employee morale is most likely observed when a company implements lean
Lean implementation is a transformative process that must support both organizational development and process improvement. We develop a risk-management-based method for determining which lean tools are most appropriate for a specific organizational setting. This enables the lean transformation to account for situational and contingency variables. The method is demonstrated through the use of a small manufacturing company with a high-variety, low-volume business model. Thus, given contextual knowledge of the organization, it is possible to predict which lean methods are most important in the situation. This allows for the prioritization of organizational effort toward lean methods relevant to the organization at that time in its development.
The root cause of low morale is a lack of trust and comfort.
Employees will stop sharing if they believe their ideas are not valued. A lack of respect for ideas can manifest itself in a variety of ways, such as criticism, inattention, lack of adoption, and ruthless competition during meetings.
For more information on Lean implementation, visit :
https://brainly.com/question/14787419
#SPJ4
on july 8, jones inc. issued an $79,800, 6%, 120-day note payable to miller company. assume that the fiscal year of jones ends july 31. using a 360-day year, what is the amount of interest expense recognized by jones in the current fiscal year? when required, round your answer to the nearest dollar.
The amount of interest expense recognized by jones in the current fiscal year is $306
The following illustrates how interest costs were calculated:
= Principal * Interest * Days * Days * Rate of Interest (total number of days in a year)
Simple interest is a simple and straightforward formula for figuring out how much interest will be charged on a loan. The daily interest rate, the principal, and the number of days between payments are multiplied to determine simple interest.
Simple interest is calculated by dividing the principal by the time, interest rate, and time period. "Simple Interest = Principal x Interest Rate x Time" is the written formula. This is the most fundamental formula for calculating interest.
= $79800.00 x 6% x (23 / 360)
= $305.98
The nearest dollar is $306
the period of 23 days runs from July 8 to July 31.
By multiplying the principal amount by the rate of interest and the duration, we simply applied the basic interest formula.
Learn more about simple interest at
https://brainly.com/question/14262373?referrer=searchResults
#SPJ4
ray has a great idea for a dating app, but he doesn't have the funds to develop and launch it. his brother offers to help him develop it for free, in exchange for a percentage of future profits. what type of financing resource is ray using? a.) factoring b.) peer-to-peer lending c.) trade credit d.) sweat equity
Peer-to-peer networks protect your personal and financial information just as a typical bank or online lender would, in terms of security.
Peer-to-peer lending: how does it operate?P2P lending uses online channels to establish direct communication between those looking to lend money and those looking to borrow money. As a result, you obtain financing from private investors who have registered on a P2P lending platform rather than a bank or credit union. Peer-to-peer networks protect your personal and financial information just as a typical bank or online lender would, in terms of security. They can be made to a person, business, or organization. Student loans, commercial and real estate loans, payday loans, secured company loans, leasing, and factoring are some more types of peer-to-peer lending.
To learn more about peer-to-peer refer to
https://brainly.com/question/19631620
#SPJ4
darius wanted to buy a roll of packing tape at the grocery store. he searched the aisle that had office supplies and couldn't find it. after finding a store employee, he learned that the packing tape was located in a display of holiday items and placed on a top shelf. a product like the packing tape may be located where customers like darius cannot easily find it or an employee may provide mistaken information about a product's features or benefits. in this case, the service delivery failure was
An employee may provide mistaken information about a product's features or benefits. in this case, the service delivery failure was process-related failure.
In the process-related failure is a breakdown in the customer's exploring or finding the product or customer's perception of the quality of a service process. Sometimes process-related failure is also occurred due to careless and rushing service and unwillingness of employees to meet customer requests. The process-related failure leads to company's losing profit and rising costs.
To know more about process-related failure here,
https://brainly.com/question/14567252
#SPJ4
the investment and capital spending boom of the late 1990s most likely resulted in a(n) steeper aggregate supply curve. flatter aggregate supply curve. decrease in aggregate supply. increase in aggregate supply.
The late-1990s investment and capital spending boom most likely resulted in a rise in aggregate supply.
Investment is the commitment of funds to the purchase of an asset with the goal of increasing its value over time. Investment necessitates the sacrifice of some current item, such as time, money, or effort. In finance, the goal of investing is to earn a return on the invested asset. The return may consist of a gain (profit) or loss realized through the sale of a property or investment, unrealized capital appreciation (or depreciation), or investment income such as dividends, interest, or rental income, or a combination of capital gain and income.
Investors, particularly novices, are frequently urged to diversify their portfolio.
Learn more about aggregate here
https://brainly.com/question/29022331
#SPJ4
the amount of principal repaid in the 5th payment of a 15-year loan at 7% is 187. what is the amount of the loan?
Data and computations (a)$100,000 is the loan amount 12% annual interest rate 10 years or 120 months is the loan term.Principal and interest on a loan must be repaid.
The same amount each month.Third Month’s Payment$1,434.71 was paid in full.Interest Initiator =$991.26.$443.45.First three months’ payment schedule:Payment schedule for the first three months:PV for time.One Interest Two FV $100,000.00 $1,000.00 $99,565.29 Three $99,565.29 $1,434.71 $995.65 $99,126.23 One Interest Two FV $991.26 $98,682.79 One Interest Two FV $100,000.00 $1,000.00.
To know more about Data and computations visit:
https://brainly.com/question/17038044
#SPJ4
if a california avocado stand operates in a perfectly competitive market, that stand owner will be a price:
If a local California avocado stand operates in a perfectly competitive market, that stand owner will be a price-taker.
In a perfect competition, who is the price taker?
A perfectly competitive firm is a price taker, which means it must accept the equilibrium price at which it sells goods. If a perfect competition firm attempts to charge even a small amount more than the market price, it is unable to make any sales.
A price-taker is any firm that is unable to influence the general level of commodity prices by changing the quantity of product produced; a firm operating in a perfect competition market is, by definition, a price-taker.
Therefore, In a perfectly competitive market, the owner of a local California avocado stand will be a price taker.
Learn more about the competitive market from the given link.
https://brainly.com/question/29407851
#SPJ4
