What assumptions are necessary for a market to be perfectly competitive? in light of what you have learned in this chapter, why is each of these assumptions important? for a market to be perfectly competitive, a. only a few firms may produce output, firms must have market power, and firms must produce a homogenous product. b. firms must be price takers, firms must produce a homogeneous product, and firms must be able to easily enter and exit the market. c. only one firm can produce output, no close substitutes may exist, and firms must not be able to enter the market. d. only one firm can have access to a key input, the government must regulate entry of new firms, and the long-run average cost of production must be decreasing. e. firms must have market power, firms must produce a differentiated product, and firms must be able to easily enter and exit the market.

Terry, a self-employed laboratory consultant specializing in white mice, attended a convention in paris concerning the care and feeding of white mice. the convention was held in paris since most of the white mice specialists in the world are located in france. terry's expenses were $1,600 for airfare, $400 for food, and $400 for lodging. terry spent 5 days at the convention and 3 days visiting friends. how much can she deduct for the trip?

According to the research in strategic human resources management, answers: firms that are able to use human resource practices to develop socially complex human and organizational resources are able to gain competitive advantage over firms that do not engage in these practices. firms that are able to use human resource practices to develop socially simplistic human and organizational resources are able to gain competitive advantage over firms that do not engage in these practices. firms that are able to use human resource practices to develop socially complex human and organizational resources gain little advantage over firms that do not engage in these practices. firms that are able to use human resource practices to develop socially complex human and organizational resources are at a competitive disadvantage when compared to firms that do not engage in these practices.

The cost of capital: introduction the cost of capital: introduction companies issue bonds, preferred stock, and common equity to aise capital to invest in capital budgeting projects. capital is』necessary factor of production and like any other factor, it has a cost. this cost is equal to the select the applicable security. the rates of return that investors require on bonds, preferred stocks, and common equity represent the costs of those securities to the firm. companies estimate the required returns on their securities, calculate a weighted average of the costs of their different types of capital, and use this average cost for capital budgeting purposes. required return on rate: when calculating om operations when the firm's primary financial objective is to select shareholder value. to do this, companies invest in projects that earnselect their cost of capital. so, the cost of capital is often referred to as the -select -select and accruals, which a se spontaneously we hted average cost of capital wa c our concern is with capital that must be provided by select- 쑤 interest-bearing debt preferred stock and common equity. capital budgeting projects are undertaken, are not included as part of total invested capital because they do not come directly from investors. which of the following would be included in the caculation of total invested capital? choose the response that is most correct a. notes payable b. taxes payable c retained earnings d. responses a and c would be included in the calculation of total invested capital. e. none of the above would be included in the cakulation of total invested capital.