Why does competition force firms to use the least-cost, most-efficient productive techniques?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
Competition affects numerous factors in the functioning of firms The main concern of a firm is to ma...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Cost Accounting questions
-
Does competition from small startups really pose a big competitive threat to Oracle? Explain why or why not.
-
In his article The Impact of Accounting Regulation on the Stock Market: The Case of Oil and Gas Companies, Lev (1979) examined the daily returns on a portfolio of oil and gas companies common shares...
-
The Software Industry: When personal computers first came onto the scene, the task of writing software was considerably more difficult than it is today. Over the following decades, consumer demand...
-
- Given the following data for a company: Equity E 800,000 USD -Debt D=200,000 USD - Invested Capital IC = 1,000,000 USD E/IC-80% - D/IC=20% -Cost of debt k=9% - Beta-1.6 - D/E=0.25 compute the cost...
-
A beam of white light passes through 8 uniform thickness of air. H the intensity of the scattered light in the middle of the green part of the visible spectrum is I, find the intensity (in terms of...
-
Begin by reading the following article: Batchelder, L. (2020, June 24). Tax the rich and their heirs Links to an external site. . The New York Times. In your initial post , analyze, discuss, and...
-
Statement on Auditing Standards No. 62, "Special Reports," is explicit about what is meant by a comprehensive basis of accounting other than GAAP. Of the following, which is not a comprehensive basis...
-
Tax Prep Advisers, Inc., has forecasted the following staffing requirements for tax preparation associates over the next 12 months. Management would like three alternative staffing plans to be...
-
We obtain monthly data on retail sales of supermarket and grocery stores in Victoria measured in millions of Australian dollars from January 2010 to January 2021 and the data are plotted in the...
-
Following is a series of adjustments for the entity you have worked on previously Happy Ever After Weddings and Event Catering Service : A] A 1-year insurance policy was purchased March 31, 2021 B]...
-
Assume that a firm can produce either Product A, or Product B, or Product C with the resources it currently employs. These resources cost the firm a total of $50 per week. Also assume that the firm...
-
The president of the Micro Brewing Corporation asks you. as the company economist, to forecast changes in consumer beer purchases associated with a proposed price change. You conduct a survey and...
-
What is Rawlss maximin principle, and how is it related to his second principle of justice?
-
Garba Exports Ltd. is a manufacturer of cotton yarn. It has 40% debt and 60% equity in its capital structure. The firms estimated after-tax cost of debt is 7% and its estimated cost of equity is 12%....
-
Hills Ltd. has just announced a dividend of 2.50 per share for the year. It plans to increase this dividend by 5% next year and maintain it at the new level for the foreseeable future. If the...
-
Belle Fashions supplies garments to high street retailers. They have been paying dividends steadily for 10 years. During that time, dividends have grown at a compound annual rate of 5%. If Belle...
-
Consider two investment projects, both of which require an upfront investment of $12 million and pay a constant positive amount each year for the next 10 years. Under what conditions can you rank...
-
Your firm is considering a project that would require purchasing $7.2 million worth of new equipment. Determine the present value of the depreciation tax shield associated with this equipment if the...
-
Some contend that job crafting sounds good in principle but is not necessarily available to everyone. What types of jobs are probably not amenable to job crafting activities? Consider for a moment a...
-
Why did management adopt the new plan even though it provides a smaller expected number of exposures than the original plan recommended by the original linear programming model?
-
Select a participant (colleague, family member, or friend) that you would like to receive feedback from. Use the information from the table to plan a two-way, open, and evaluative feedback session as...
-
Imagine you are the assistant manager of the place in which you currently work. You have been instructed by the manager to organize and facilitate a company team building activity to promote...
-
Analyze key change management principles. The organization is having difficulties and frustration regarding outdated technology. Explain the purpose and discipline of change management. Outline a...
Study smarter with the SolutionInn App