Physics College

A precondition for perfect competition is that
the product should be homogeneous. True or false

Answers

Answer 1

The given statement, "A precondition for perfect competition is that the product should be homogeneous" is true.

Perfect competition is a market structure in which numerous small firms compete against each other with identical or homogeneous products, and no one firm can influence the market price independently.

In a perfectly competitive market, there is free entry and exit of firms, perfect knowledge of the market, and no barriers to entry.What does homogeneous mean?Homogeneous products refer to goods or services that are identical or very similar in nature and have the same level of quality and features. Examples of homogeneous products include agricultural goods, basic raw materials, commodities, and so on.

In perfect competition, all firms offer identical products to customers. Homogeneous products are essential to ensure that no single firm has an advantage over others in terms of quality or price. If there were differences in quality or price, customers would prefer to buy from the firm with the lowest price or highest quality. This would give that firm a competitive advantage over others in the market.

As a result, it would no longer be a perfectly competitive market, since one firm could influence the market price independently. Therefore, the precondition for perfect competition is that the product should be homogeneous, which means that all firms should offer identical or very similar products to their customers.

For more such questions on precondition, click on:

https://brainly.com/question/30850850

#SPJ8

Related Questions

Other Questions
the ultimate purpose of a regional tourist association is to: a. A four-month $3000 bank loan has an APR of 9%. It also has a 1.5% loan origination fee and a compensating balance requirement of 10% (on which APR 3% of interest is paid). Calculate the EAR of the loan. Express answers in the units of percentage points and keep two decimal places (e.g. 99.99%) How is it important for leaders to take entrepreneurship on a national scale? A smartphone manufacturing company produces 1539 phones per day. Material cost was KWD 54, labor cost was KWD 127, and overhead was KWD 391. Calculate the multifactor productivity. Answer: Determine the productivity growth (in percentage %) of a carpeting company after they use a mechanized carpeting compared to manual process: (a) manual process: 7 workers is able to complete the carpeting of 409 square meter area in a day. (b) mechanized carpeting: Using machine the 7 workers complete 624 square meter area in a day. Enter the final answer without the % symbol. Answer: how to determine if a vector is in the null space of a matrix Why are the empty crucible and cover fired to red heat? show that if g is a 3-regular simple connected graph with faces of degree 4 and 6 (squares and hexagons), then it must contain exactly 6 squares. Walters manufactures a specialty food product that can currently be sold for $22.30 per unit and has 20,300 units on hand Alternatively, it can be further processed at a cost of $12,300 and converted into 12.300 units of Deluxe and 6,300 units of Super. The selling price of Deluxe and Super are $30.30 and $20.30, respectively. The incremental income of processing further would be: $35,590 547890 $18.300 $44.300 $12.300 What is the sum A + B so that y(x) = Az- + B is the solution of the following initial value problem 1y" = 2y. y(1) 2, (1) 3. (A) A+B=0 (D) A+B=3 (B) A+B=1 (E) A+B=5 (C) A+B=2 (F) None of above Critically evaluate the remuneration policies for independent directors in Boeing. To what extent do you think that this may have contributed to the crisis? molecular epidemiology applies the techniques of molecular biology to epidemiologic studies Consider a case where in the market for reserves, the federal funds rate and discount rate are the same. When the Federal Reserve buys securities, this causes the curve to shift to the demand; right demand; left supply: right supply: left At the cross-over point: ____________a.You are indifferent as to which project to selectb.You select the project with the higher NPVc.You select the project with the higher IRRd.You select the project with the higher Profitability Index The minuet first appeared around 1650 as a(n) ______.-dance at the court of Louis XIV of France-country dance in England-instrumental composition for -concert performance-prayer in Germany at the end of the Thirty Years War the seasons on earth are caused by its elliptical orbit around the sun.tf the bush doctrine is a foreign policy strategy that incorporates Which of the following can be concluded from Gregor Mendel's experiments with pea plants? when a homozygous dominant parent is crossed with a homozygous recessive parent, 50% of the offspring have a dominant phenotype alleles of different genes are inherited independently of each other offspring inherit two alleles per gene from each parent two recessive alleles are necessary for a recessive phenotype Incorrect. At least one of your answers is incorrect. Mendel's experiments demonstrated that alleles had unequal influence in heterozygotes, such that a dominant allele determined the phenotype. Recessive phenotypes were possible only when two recessive alleles were present. The number of dominant and recessive alleles in parental genotypes determines the possible phenotypes of offspring. Given these observations, Mendel made important deductions about how alleles separated and assorted into gametes. He inferred that each offspring must inherit one allele per parent and that different traits could be inherited independently of each other. Mergers and Acquisition Gretsch Industries is considering acquiring Flueger Systems. Although Flueger has said it is not for sale, Gretsch is considering a hostile takeover by making a tender offer directly to Fluegers shareholders. Meghan Doyle, a financial analyst with Gretsch, has been assigned the task of estimating a fair acquisition price for the tender offer. Doyle plans to use three different valuation methods to estimate the acquisition price and has collected the necessary financial data for this purpose. Flueger Systems has 20 million shares outstanding. Doyle has estimated that at the end of each of the next four years, Flueger will have free cash flow to equity (FCFE) (in millions) of $24, $27, $32, and $36. After the fourth year, Doyle expects Fluegers FCFE to grow at a constant rate of 6% per year. She also determines that Fluegers cost of equity of 10.5% is the appropriate discount rate to use for the analysis. Doyle has also found three companies that are in the same industry as Flueger and have a similar capital structureBehar Corporation, Walters Inc., and Hasselbeck Dynamics. In addition, Doyle has identified data for three takeover transactions with characteristics similar to FluegerBullseye, Dart Industries, and Arrow Corp. Data for both sets of firms are shown in the following figure. Lily 1. The value per share of Flueger stock using the discounted cash flow approach is closest to: A. $27.50. B. $29.78. C. $33.02. Given F(s) = L(), find f(t). a, b, L, n are constants. Show the details of your work. 0.2s + 1.8 5s + 1 25. 26. s + 3.24 s - 25 2 S 1 27. 28. 2.2 Ls + n77 (s + 2)(s-3) 12 228 29. 30. 4s + 32 2 S4 6 s - 16 1 31. 32. (s + a)(s + b) S S + 10 2 s-s-2 Find the domain and intercepts. f(x) = 51 x-3 Find the domain. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. A. The domain is all real x, except x = OB. The domain is all real numbers. Find the x-intercept(s). Select the correct choice below and, if necessary, fill in the answer box to complete your choice. OA. The x-intercept(s) of the graph is (are) x= (Simplify your answer. Type an integer or a decimal. Use a comma to separate answers as needed.) B. There is no x-intercept. Find the y-intercept(s). Select the correct choice below and, if necessary, fill in the answer box to complete your choice, OA. The y-intercept(s) of the graph is (are) y=- (Simplify your answer. Type an integer or a decimal. Use a comma to separate answers as needed.) B. There is no y-intercept.