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Answer to 18.2 Punchline Algebra book b What law firm is famous for sneaky legal tricks?
Dewey cheetham and howe
What is the importance of a y intercept in a graph?
Graphically, it is the point where the graph intersects the y-axis. It gives the value of the y-variable when the x-variable is 0. If, to take a simplistic example, x represented the number of units produced by a firm, and y was the total cost, then the y-intercept would represent the fixed costs - the amount the firm would have to pay even if it produced nothing - eg for land, rent etc.
What is the difference between SML and CML?
Differences between CML and SML· Capital market line measures risk by standard deviation, or total risk· Security market line measures risk by beta to find the security's risk contribution to portfolio M· CML graphs only defines efficient portfolios· SML graphs efficient and nonefficient portfolios· CML eliminates diversifiable risk for portfolios· SML includes all portfolios that lie on or below the CML, but only as a part of M, and the relevant risk is the security's contribution to M's risk· Firm specific risk is irrelevant to each, but for different reasons
Is harder a verb?
It is an adjective. It can also be used as an ADVERB. Ex: Adjective: This couch is hard, but that one is harder. (As in "firm.") Adverb: I think our team played harder in today's game, in comparison to the last one. (As in intensity or power.)
What are the characterstics of perfect compitition?
CharacteristicsThe four characteristics of perfect competition are: (1) large number of small firms, (2) identical products, (3) perfect resource mobility, and (4) perfect knowledge. Large Number of Small Firms: A perfectly competitive industry contains a large number of small firms, each of which is relatively small compared to the overall size of the market. This ensures that no single firm can exert market control over price or quantity. If one firm decides to double its output or stop producing entirely, the market is unaffected. The price does not change and there is not discernible change in the quantity exchanged in the market.Identical Products: Each firm in a perfectly competitive market sells an identical product, what is often termed "homogeneous goods." The essential feature of this characteristic is not so much that the goods themselves are exactly, perfectly the same, but that buyers are unable to discern any difference. In particular, buyers cannot tell which firm produces a given product. There are no brand names or distinguishing features that differentiate products.Perfect Resource Mobility: Perfectly competitive firms are free to enter and exit an industry. They are not restricted by government rules and regulations, start-up cost, or other barriers to entry. While some firms incur high start-up cost or need government permits to enter an industry, this is not the case for perfectly competitive firms. Likewise, a perfectly competitive firm is not prevented from leaving an industry as is the case for government-regulated public utilities.Perfect Knowledge: In perfect competition, buyers are completely aware of sellers' prices, such that one firm cannot sell its good at a higher price than other firms. Each seller also has complete information about the prices charged by other sellers so they do not inadvertently charge less than the going market price. Perfect knowledge also extends to technology. All perfectly competitive firms have access to the same production techniques. No firm can produce its good faster, better, or cheaper because of special knowledge of information.
