Distinguish between the products of different producers, Cost Accounting

The text states that four conditions are necessary for the existence of a perfectly competitive market. Discuss in your own words each one.

a)   Numerous participants: Roughly how many sellers do you think are needed to make a market perfectly competitive?

b)  Homogeneity of product: How would perfect competition be altered if buyers could distinguish between the products of different producers?

c)   Freedom of entry and exit: How might this condition be violated? What sorts of barriers to entry or exit might exist?

d)  Perfect information: What exactly needs to be known, and by whom, in order to make competition perfect?

 

Posted Date: 3/30/2013 3:32:15 AM | Location : United States







Related Discussions:- Distinguish between the products of different producers, Assignment Help, Ask Question on Distinguish between the products of different producers, Get Answer, Expert's Help, Distinguish between the products of different producers Discussions

Write discussion on Distinguish between the products of different producers
Your posts are moderated
Related Questions
Beginning inventory on March 1 consisted of 2,000 units each costing $11.20. During March, the following was purchased for inventory: Date Purchase

Variable Costs Are costs such raise or fall proportionately along with the level of activity that is such portion of the cost of an activity which changes along with the leve

Why is it important for financial statements and other external reports to be based on generally accepted accounting principles?

Accounts are prepared according to accounting concepts, principles and conventions. As final accounts are prepared on accrual basis, this becomes essential to subtract all those ex

LaNora White received her accounting degree in 1992. Since graduating, she has obtained significant experience in a variety of job settings. Her skills include auditing, income and

Most of David's clients are local. However, a few of his clients require out of town travel. He incurred $2,500 of airfare, $1,570 in lodging and $1,313 in meals relating to the bu

Making Variance Analysis More Meaningful To compose variance analysis as useful aid to management is the main objective of variance calculations.  However this can only be don

what is the different between Financial accounting and management accounting?

Vorticella can first be seen by the naked eye, b.ut to study it place a prepared slide under the microscope. Focus it under low power, and observe it. You can see a large number of

The following details were extracted from the standard cost card of a component:       Raw Materials              2.82 Kgs @ Rs.4.80 Kg.     Direct Labour            Type I   6