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pogonyaev
2 years ago
13

Purely competitive industry X has increasing costs and its product is a normal good. The industry is currently in long-run equil

ibrium. The economy now goes into a recession and average incomes decline. The result will be
Business
1 answer:
mote1985 [20]2 years ago
4 0

The industry is currently in long-run equilibrium. The economy now goes into a recession and average incomes decline. The result will be an increase in output, but not in the price, of the product. This is further explained below.

<h3>What is a product?</h3>

Generally,

In conclusion, The market is in a state of long-term balance. There is currently a drop in typical salaries and the economy is entering a recession. As a consequence, production will rise without corresponding increases in cost.

Read more about product

brainly.com/question/22852400

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A job application is a form used to make a job request. (3 points)<br> True<br> False
TEA [102]

Answer:

I would say it is True.

Explanation:

A job application <em>form</em> states your personal information

4 0
3 years ago
Entries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Sedona In
seraphim [82]

Answer:

account receivables 18,900 debit

   sales revenues              18,900 credit

Cost of good sold    11,200 debit

    Inventory                      11,200 credit

Cash                                              8,000 debit

allowance for doubtful account 10,900 debit

     Account receivables                   18,900 credit

account receivables            10,900 debit

allowance for doubtful accounts   10,900 credit

cash          10,900 debit

  account receivables 10,900 credit

Explanation:

when we write-off we do not recognize an expense as we use the allowance method.

Now, when we recover the account we reverse the write-off method and then, record the collection as usual.

3 0
3 years ago
B) Answer the following questions.
lana [24]

Answer:

Yes, agree, business transactions are economic transactions. Two reasons why:

  • Profit motive: economic transactions have a profit motive: they are carried out and agreed upon between the two parties, because the parties feel that they will be better off after the transaction is completed. Business transactions are based on the profit motive.
  • Things of value: goods and/or services, are exchanged between the parties. In business transactions, either a good (for example, an asset), or a service (for example, employees), is always exchanged.

6 0
3 years ago
Calidasth is a company that sells cosmetic products. Its retail outlets offer discount sales at the end of every season. In the
Alex Ar [27]

Answer:

<u>Limited Relationships</u>

Explanation:

Customer Relationship management (CRM) refers to the practices and policies followed by an organization w.r.t interaction with it's customers. The concept lays emphasis upon creating healthy customer relationships and solving customer questions and queries in the most efficient manner.

CRM in a way represents the technology or platform a company uses so as to manage it's external interactions with customers.

Software, artificial intelligence, etc represent some of the areas wherein CRM has grown technologically.

The given case points towards the existence of a transactional relationship i.e relationships which is limited only till the transactional level. Under this, the company's does not exactly establish relationship with customers.

3 0
3 years ago
In the short run or in shorter time periods supply curves tend to:_______
svlad2 [7]

Answer:

b) be more inelastic than supply curves that apply to longer periods of time.

Explanation:

In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply. In order to understand both short-run economic fluctuations and how the economy move from short to long run, we need the aggregate supply and aggregate demand model.

Aggregate supply (AS) refers to the total quantity of output (goods and services) that firms are willing to produce and sell at a given price in an economy at a particular period of time.

An aggregate supply curve gives the relationship between the aggregate price level for goods or services and the quantity of aggregate output supplied in an economy at a specific period of time.

In the short run or in shorter time periods supply curves tend to be more inelastic than supply curves that apply to longer periods of time.

This ultimately implies that, a rightward shift in the aggregate supply (AS) curve causes output to increase and result in a price fall (lower price), in the short run.

However, in the long-run or in longer time periods, supply curves tend to be fairly elastic than supply curves that apply to shorter periods of time.

3 0
3 years ago
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