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Andrews [41]
2 years ago
7

In the theory of perfect competition, the assumption of easy entry into and exit from the market implies:_____.

Business
1 answer:
Hitman42 [59]2 years ago
3 0

The assumption in perfect competition that there is an easy entry and exit from the market implies that firms will make a zero economic profit in the long run.

<h3>Why do firms make a zero economic profit?</h3>

In a pure competition, companies are allowed to freely enter and leave.

They take advantage of this to enter a market when prices are high and economic profit is being made.

As more firms enter, the economic profit keeps decreasing as prices decrease until this profit gets to zero and then turns to economic losses.

At this point, some firms will leave the market to stop making losses. When they do, the supply will decrease which leads to prices rising once more.

The cycle will then repeat itself and keep the companies at a zero economic profit in the long run.

Find out more on perfect competitions at brainly.com/question/1748396

#SPJ1

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Utica Company has offered to supply Kingston's entire annual requirements of the part for $53 each. If Kingston buys the part fr
miss Akunina [59]

Answer:

$480,000

Explanation:

Calculation to determine what total relevant costs to make the part internally are

First step is to calculate Relevant cost per unit:

Relevant cost per unit:

Direct materials $6

Direct labor $24

Variable manufacturing overhead $12

Fixed manufacturing overhead ($15 × 0.40) $6

Relevant manufacturing cost $48

Now let determine the Total relevant costs to make the part internally

Total relevant costs to take the part internally=($48 × 10,000)

Total relevant costs to make the part internally = $480,000

Therefore total relevant costs to make the part internally are $480,000

5 0
3 years ago
What are the requirements for being a dental assistant?
AlexFokin [52]
1. Determine whether you possess general characteristics to become a dentist.
2.Complete your prerequisite educational requirements.
3.Take the Dental Admissions Test (DAT).
4.Apply for admission to a dental school.
5.Attend dental school.

7 0
3 years ago
Which Internet technology allows businesses to make presentations and share visual aids such as charts and graphs?
Triss [41]

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c

Explanation:

3 0
3 years ago
Read 2 more answers
Beginning three months from now, you want to be able to withdraw $2,800 each quarter from your bank account to cover college exp
mr Goodwill [35]

Answer:

You will need to have $ 55,006.94

Explanation:

We need first to consider the following details according to the problem

We have a Annuity amount of $ 2900, a Rate(r)= 0.51%, and a Time(n)= 5 years (or 20 quarters ) .

To reach to the money that we would need to have in the bank today to meet the expense over the next four years we use the following formula:

PVA= annuity amount × [1 - (1 / (1 + r)n)] / r

PVA= $ 2900 x[ 1-{ 1/(1+0.0051)20)]/0.0051

PVA= $ 55,006.94

4 0
3 years ago
an effect of the sarbanes-oxley act of 2002 was to: multiple choice reduce the circumstances in which one may file securities wi
mixer [17]

An effect of the Sarbanes-Oxley Act of 2002 was to reduce the accounting profession’s level of self-regulation.

<h3>What did the Sarbanes-Oxley Act of 2002 do?</h3>

The Sarbanes-Oxley Act of 2002 was passed in the wake of the Enron and WorldCom financial sagas in order to reduce the incidence of companies misleading their stockholders.

The Sarbanes-Oxley Act of 2002 led to more regulation over the accounting profession and a reduction in their self-regulation because large accounting companies had been implicated in the saga.

Find out more on the Sarbanes-Oxley Act of 2002 at brainly.com/question/13398903

#SPJ1

4 0
1 year ago
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