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
Winston Duff is planning to borrow $225,000 to purchase a new home. Mr. Duff is considering two fixed-rate financing alternatives offered by Horsepen Creek State Bank. The first

full explanation on cost concept and classification

Distinction between Absorption and Marginal Costing These are two approaches of arriving at the cost of production or total profit for a specified period. The major difference

Variance Analysis This section describes how labour, material and overhead variances are calculated and what causes every of those variances. A chart is given also to describe

It may be dispute that  in a  total quality environment, variance analysis  from a standard costing system is redundant.í Talk about the validity of this statement.

Behavioural Aspects of Standards Budgets and Standards rely heavily on the people who have to work to meet them. Since the detailed nature of standard costing and its involvem

Write a 1,200- to 1,500-word paper explaining the legal aspects, financial standards involved, and ethicality of the Excello Telecommunications case. Your paper should include the


Marginal Cost Marginal cost is the change in a firm's cost of production. It is related to a unit change in its output, or the added cost of producing the next unit. The margin

Occurrence of Overhead Variances Overhead variances arise mainly because of the conventions of the overheads absorption process. The overhead absorption rates employed in this