Business, 15.07.2021 19:20 20alondra04
In long-run equilibrium, all firms in the industry earn zero economic profit. Why is this true? All firms in perfectly competitive industries earn zero economic profit in the long run because A. barriers to entry and exit prevent firms from earning positive or negative economic profit. B. a positive profit would induce firms to produce more , increasing price and profit, and a negative profit would induce firms to produce less , decreasing price and profit. C. firms are price takers, maximizing profit by producing where price equals average cost . D. a positive profit would induce firms to enter, decreasing price and profit, and a negative profit would induce firms to exit, increasing price and profit. E. firms are price takers, maximizing profit by producing where price equals marginal cost.
Answers: 1
Business, 21.06.2019 22:50
The winston company estimates that the factory overhead for the following year will be $1,250,000. the company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 50,000 hours. the total machine hours for the year were 54,300. the actual factory overhead for the year were $1,375,000. determine the over- or underapplied amount for the year.
Answers: 1
Business, 22.06.2019 06:30
Selected data for stick’s design are given as of december 31, year 1 and year 2 (rounded to the nearest hundredth). year 2 year 1 net credit sales $25,000 $30,000 cost of goods sold 16,000 18,000 net income 2,000 2,800 cash 5,000 900 accounts receivable 3,000 2,000 inventory 2,000 3,600 current liabilities 6,000 5,000 compute the following: 1. current ratio for year 2 2. acid-test ratio for year 2 3. accounts receivable turnover for year 2 4. average collection period for year 2 5. inventory turnover for year 2
Answers: 2
Business, 22.06.2019 07:50
The questions of economics address which of the following ? check all that apply
Answers: 3
Business, 22.06.2019 10:10
True tomato inc. makes organic ketchup. to promote its products, this firm decided to make bottles in the shape of tomatoes. to accomplish this, true tomato worked with its bottle manufacture to create a set of unique molds for its bottles. which of the following specialized assets does this example demonstrate? (a) site specificity (b) research specificity (c) physical-asset specificity (d) human-asset specificity
Answers: 3
In long-run equilibrium, all firms in the industry earn zero economic profit. Why is this true? Al...
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