The exact number of firms cannot be stated‚ but there are a large number of small firms that each firm has no significant share of output. Homogenous products The products produced by firms are identical or standardized. The products are so similar. There are no difference in the quality and hence‚ rules out the need for advertising. Freedom of entry and exit No barrier for new firm’s to enter the market. They do not need license and permits to venture into this market.
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Short Term financing/ Financing Current Assets As a human being‚ we do have needs- food‚ shelter‚ clothing‚ and wants- laptop‚ cellphone‚ electronic gadgets‚ and the like. Parents work very hard in order to earn more money to give their children what they want. This is how they finance their everyday necessities and wants. This is just like in companies wherein they will do every means they can think of just to finance their everyday operations. The need for determining the proper source
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Short-Term and Long-Term Effects From Nuclear Radiation on the Human Body Lately‚ nuclear energy has been in the minds of the American populace. With the recent collapse at the Hanford site and the recent testings of rockets by North Korea that could potentially carry nuclear warheads‚ concern has been raised about what the consequences of nuclear energy could be‚ especially on earth and the human body. One of these risks is radiation. No matter how negligible the risk of nuclear weapons and meltdowns
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back to school and you see that there’s not much requirements to get into these schools as long as you have money for tuition. Those are what you call for-profit schools. Now the question is are these schools actually good for you? Can they help you in the long run or just give you classes and you’re on your own after you get the degree. I feel that for-profit schools should not be federally regulated because these colleges provide opportunities for students ignored and rejected by traditional colleges
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Short-Term Memory Short-term memory is the ability of holding a small amount of information in mind‚ which is in a short duration and capacity. Different from the long-term memory‚ a short-term memory can disappear in seconds and limited in capacity. The current study shows that short-term memory can be affected by less grammatical incongruence which may demonstrate the sensitivity of the language-learning ability in infants. From the article that I found‚ the researchers’ findings complement other
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1. Which of the following is a difference between financial reporting for internal service and enterprise funds? (Points : 10) Internal service funds are reported in the governmental fund financial statements. Internal service funds are reported in the proprietary fund financial statements. Internal service funds are generally reported in the Business-type Activities column of the government-wide financial statements. Internal service funds
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2) Explain why a profit maximizing firm produces the output that equates marginal revenues to marginal costs (MR=MC). In a perfectly competitive market‚ producers are price-takers and consumers are price-takers. There are many producers‚ none having a large market share and the industry produces a standardized product‚ also free entry and exit of the industry. They produce using the optimal output rule: produce where marginal revenue equals marginal cost as Smith (1904) demonstrated. Figure
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Nguyen November 6‚2012 1. Conditions for profit maximization are: a) Difference between total revenue (TR) and total cost (TC) is maximized; b) Marginal revenue (MR) should be equal to marginal cost (MC) Explanations: If we assume that the company is facing a downward – sloping curve and it produces just one single product a) Profit = TR – TC. Profit will increase if TR increases and TC decreases. If company wants profit maximization‚ it should be TR maximization and TC minimization. The
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Sources of Finance in Short Term Source of short term finance refers to money that is needed for financial activities carried out for less than one year. These funds are usually used for day to day operations such as payment of wages‚ inventory ordering‚ advertisement expenses and so on. There are different sources of rising the short time finance can vary according to way of their usage. Bank Overdraft This is a temporary source found that is provided by bank in which business has a
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Copyright © 2014 by The McGraw-Hill Companies‚ Inc. All rights reserved. Chapter One Chapter Overview • Introduction – The manager – Economics – Managerial economics defined • Economics of Effective Management – Identifying goals and constraints – Recognize the nature and importance of profits – Understand incentives – Understand markets – Recognize the time value of money – Use marginal analysis • Learning managerial economics 1-2 Introduction Economics • The science of making decisions
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