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:

Related Book For book-img-for-question

Financial Accounting Theory

ISBN: 978-0132984669

7th edition

Authors: William R. Scott

See More Books

Question Posted: Nov 22, 2017 08:19 AM

See More 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...
H ALL 1 2 3 2. Simple Matrix Summation Given an n x m matrix, a, where each a(i, j) is the value of the cell at the intersection of row i and column j, create another n x m matrix, b, using the...
What are the components of the immediate environment?
On July 1, 2013, Ross-Livermore Industries issued nine-month notes in the amount of $400 million. Interest is payable at maturity. Required: Determine the amount of interest expense that should be...
Question 1 of 1 View Policies Show Attempt History Current Attempt in Progress Mike Greenberg opened Pina Window Washing Co.on July 1, 2020. During July, the following transactions w July 1 3 5 12 18...
Using the chart of accounts in Figure 2-1, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of paying the employees in Problem 2 for...
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...
Rix Company sells home appliances and provides installation and service for its customers. On April 1, 2019, a customer purchased a dishwasher that Rix normally sells for $1,000. In addition, the...
Juanita Poblamo makes large ceramic pots for use in outdoor landscape. She currently has two models, one square and the other round. Because of the size of Juanitas creations, only one pot can be...
EPI educational products are currently sold without any supplemental materials. The company is considering the inclusion of instructional materials such as an overhead slide presentation, potential...
EPI is considering eliminating a product from its ToddleTown Tours collection. This collection is aimed at children one to three years of age and includes tours of a hypothetical town. Two products,...
Suppose we estimate the model y i = + u i , where u i N [ 0 , i 2 ] . (a) Show that the OLS estimator of simplifies to ^ = y . (b) Hence directly obtain the variance of y . Show that this...
This question presumes access to software that allows NLS and ML estimation. Consider the gamma regression model of Exercise 5-2. An appropriate gamma variate can be generated using \(y=-\lambda \ln...
Based on the test results, Sample 2 is acceptable as a water source as long as the developers: A. Are willing to accept high iron levels and hard water. B. Are willing to accept high lead levels and...
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?
Your company produces a health magazine. Its sales data for 1 - year subscriptions are as follows: Year of Operation Subscriptions Sold % Expired at Year End 2 0 2 0 $ 3 0 0 , 0 0 0 5 2 0 2 1 $ 6 4 7...
Problem 3 - 2 0 ( Static ) Calculate profitability and liquidity measures LO 3 - 3 , 3 - 4 , 3 - 6 Presented here are the comparative balance sheets of Hames Incorporated at December 3 1 , 2 0 2 3...
3 Required information [The following information applies to the questions displayed below) John and Sandy Ferguson got married eight years ago and have a seven-year-old daughter. Samantha. In 2020,...

Why does competition force firms to use the least-cost, most-efficient productive techniques?

Question:

Step by Step Answer:

Competition affects numerous factors in the functioning of firms The main concern of a firm is to ma...View the full answer

Financial Accounting Theory

Students also viewed these Cost Accounting questions