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2 years ago

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

1 answer:

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.

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Adham is interested to buy a pair of shoes, at Lazzado.com as follows:

nlexa [21]

I think it could either be the first or third option, but I thinking the correct one should be the first option. Hope this helped :)

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3 years ago

The process by which the use of a new product or service spreads throughout a market group is referred to as

MrRissso [65]

Answer:

Diffusion of innovation.

Explanation:

It's a widely studied method where the theory suggests that the rate at which the new ideas spread and develops or prophets in all the directions is seen by the early majority, late majority, and laggards and is a method of group marketing through the various communication channels.

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3 years ago

To determine whether their employees are doing their jobs efficiently and effectively, managers use:_______

statuscvo [17]

In order to find out if employees are doing their job as they should in an efficient and effective manner, managers use performance management.

<h3>What is performance management?</h3>

This refers to anything that employers do in order to find out how employees are doing as regards helping the company to meet its organizational goals.

These methods go beyond trying to find out how employees are doing as regards work, but also tries to suggest ways that the employees can get better at what they do.

In order to do this, the employees need to be monitored and the process they use to go about their jobs need to be studied. They are then juxtaposed with industry best practicies to make them better.

Performance management is therefore hugely important in companies as it ensures that they meet organization objectives.

In conclusion, this is performance management,

Find out more on performance management at brainly.com/question/24673911

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2 years ago

Suppose the country of Lilliput exported $ 293 billion worth of goods and imported $ 405 billion worth of goods in the last cale

wlad13 [49]

Answer:

A trade deficit.

Explanation:

Given that,

Value of exports = $293 billion

Value of imports = $405 billion

Balance of trade refers to the difference between a country's value of exports and its value of imports for a given time period.

Balance of trade:

= Value of exports - Value of imports

= $293 billion - $405 billion

= -$112 billion

Therefore, this country has a negative trade balance and it is reflected as a trade deficit.

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3 years ago

Name a reward of owning your own business.

just olya [345]

You get to look at the progress of your business

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4 years ago

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