A perfectly competitive market is characterized by numerous sellers and buyers, homogeneous products, easy entry and exit for firms, and the fact that firms are price takers. In the short run, firms can make a profit or a loss, but in the long run, the market achieves equilibrium, and firms earn only normal profits. An example includes the agricultural industry for products like wheat.
Explanation:In a perfectly competitive market, several key characteristics are present. Firstly, the market has many sellers and buyers, making it impossible for single entities to manipulate market prices. Secondly, easy entry and exit of firms in the market ensure that no individual sellers can control the market. Thirdly, all sellers offer identical products, which means that consumers do not prefer one seller's product over another's based on quality or features. Lastly, sellers in a perfectly competitive market are price takers, which means they accept the market price as given and cannot set their own prices.
In the short run, perfectly competitive firms may experience profits or losses due to fixed factors of production and existing market prices. However, over time, as firms enter or exit the market in response to these profits or losses, the market reaches an equilibrium where firms only manage to earn normal profits in the long run. This ensures that the supply in the market adjusts to the level where the price equals the average cost, eliminating any economic profits.
Consider the agricultural industry where many farmers sell identical products such as wheat. The products are homogeneous, there are numerous buyers and sellers, and farmers have little control over the market price of their wheat; they are price takers. This industry checks the criteria for a perfectly competitive market.
In an experiment, the independent variable _____.
The independent variable in an experiment is the factor that the researcher manipulates to observe changes in the dependent variable.
Explanation:In an experiment, the independent variable is the condition or factor that is purposefully manipulated or varied by the researcher or experimenter. This manipulation is performed to create a specific situation and observe the effects of this manipulation on what is known as the dependent variable. The dependent variable is expected to change based on alterations to the independent variable. Therefore, in a sound experimental design, the independent variable is often the only significant difference between the experimental group and the control group and is introduced as a treatment or intervention.
Which factor is most often implicated in the failure of condoms?
Today, persons of dutch descent living in south africa usually call themselves afrikaners.
a. True
b. False
At a parade, 3-year-old kyle puts his fingers in his ears when he hears the fire trucks coming down the street. kyle is displaying scaffolding. situational empathy. social problem solving. emotional self-regulation.
Explain why a person might consider a vote for a minor party candidate even knowing that candidate is not likely to win
Which early political party formed to promote a loose construction of the constitution and strong central government? 1. Federalists 2.Anti-federalists 3.Democratic-Republicans 4.Democrats
The great epic story of mali is known as
A student's challenging behavior often represents an intellectual deficit that precludes the student from learning the desired behavior. a mismatch between the student's skills and the expectations of the school environment. a genetic predisposition to disruptive behavior. a failing on the part of the student's parents, who have, in many cases, failed to teach the student appropriate behavior.
What surprises have emerged from studies of the attitudes of emerging adults and their parents?
The surprises that have emerged from studies of the attitudes of emerging adults and their parents is that children have greatly rely on their parents in which their parents provide concern towards their child’s welfare base on the generations today and the previous ones.
"if particular care and attention is not paid to the ladies, we are and will not hold ourselves bound by laws in which we have no voice, or representation." who said this
This was said by Abigail Adams. She was the closest consultant and wife of John Adams, as well as the mom of John Quincy Adams. She is occasionally measured to have been a Founder of the United States, and is now selected as the second First Lady of the United States and first Second Lady, though these labels were not in use at that period. She said this lines when his husband unsuccessful to take account of Women’s Rights in the Declaration of Independence.
Answer: A
Explanation:
TRUST ME
Compare and contrast scientific theory and to law of nature. give example
While piaget proposed that formal operational thought is not fully settled in until around 15 years of age, evidence suggests that some people never fully employ formal operational thinking. studies show that only __________ of college students and adults achieve formal operational thinking, and other estimates run as low as __________.science forums?
The american who best exemplified the enlightenment way of thinking was
Erik erikson proposed that at each stage of life people face a psychosocial task that needs resolution. according to this theory, the first task that infants wrestle with is
An example of human capital is
Training of workers
Healthcare for workers
Employee Gym
All of the above
Human capital refers to the skills, health, and overall capabilities of workers, and examples include training, healthcare,
An example of human capital includes the Training of workers, providing Healthcare for workers, and amenities such as an Employee Gym. All of these contribute to the development of a workforce's skills, health, and capabilities, enhancing their productivity and value in the economy. Human capital is an accumulation of knowledge, skills, and health that workers possess, and investments in it can include formal education, on-the-job training, and overall employee wellbeing, which affects their capacity to produce economic value.
Everyone needs a(n) ____ of stress that is most conducive to adequate health and performance
What steps does the supreme court take in selecting, hearing, and deciding cases?
The Supreme Court takes the following steps:
A brief is submitted and the both sides of the case present their arguments along with the defense of their arguments. After the argument the conference meets and a majority opinion along with the dissenting opinion also is written
To optimize the care of a stroke patient who is a potential candidate for thrombolytics, an emt can determine and document the exact time of:
In a punnett square what is on the outside and what is on the inside
The outside are parent alleles and the inside is offspring.
Who said when a man is a traveler, the world is his house & the sky is his roof, where he hangs his hat is his home, & all the people are his family?
Answer:
Drew Bundini Brown
Do you think a person is at a disadvantage if they do not have access to the Internet or computer literacy? Why or why not?
On the way home from her senior prom, mary's date ran a red light and crashed into another vehicle, causing severe injuries to all involved. twenty years later, mary still remembers the song that was playing on the radio at the time of the crash. in the context of memory retrieval, such a memory is best described as a(n) _____ memory.
A _____ is a group of people who, based on their geographic location, band together for the good of the group.
Which variable is the best predictor of one's own class position as an adult?
Family background is the strongest predictor of one's class position in adulthood, with parental support, income, and education playing key roles. Early class-based labeling by teachers further impacts educational and class outcomes. Educational attainment influenced by these factors leads to better job prospects and reinforces class position.
When predicting one's own class position as an adult, family background emerges as the strongest predictor. This is due to factors such as parental support, parental expectations for schooling, household income, and parental educational attainment. According to research, these characteristics observed as early as first grade can effectively predict a child's future educational attainment and subsequent class position.
Interestingly, social class affects educational outcomes from a very early age. For instance, sociologist Rist found that teachers' early labeling of students based on their social class set them on different educational trajectories, impacting their long-term academic success and class position.
Educational attainment, shaped by family background, is directly linked to future rewards such as better employment opportunities and the likelihood of residing in wealthier neighborhoods, thus reinforcing the initial class position into adulthood.
Dr. williams is designing a new intelligence test and is thinking about all of the mental groupings or _____ that a person could answer for table, such as: surgical table, dining table, work table, and so on.
Which scenario is best for an online discussion group?
1 A teacher wants to meet with certain students immediately after class.
2 Students from different schools want to talk about a community project.
3 A coach wants to meet with the football team before practice.
4 The student council wants to call a special session following last period.
The correct answer is 2. Students from different schools want to talk about a community project
Explanation
Online discussion groups are online sites where people discuss or hold conversation about specific topics through messages, as these are online groups they rely on Internet connection and because of this any person with access to internet connection that belongs to the group can participate in the discussions without the limits of a specific time or place; this means members do not need to be in the same place or set a specific time to talk about the community project, which is something necessary for students from different schools as it might be difficult for them to have a face to face meeting, which is quite possible in the other cases.
Answer:
the answer is BExplanation:
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During which stage of the scientific method does a scientist offer a testable prediction about the relationship among two or more variables?
Today, more than ________ percent of the votes in congress are passed with unanimous party-line voting.
The answer is about ninety percent, base on the studies and researches that is conducted—there is a total of ninety percent when it comes to the vote with the congress that are passed with the unanimous party line voting.
Which sociologist is most closely identified with his study of the association between religious belief and economic growth?
Which ethical guideline is a person not attending to if he or she is not keeping up with the current state of knowledge in the field?