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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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3 years ago

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The Tax Cuts and Jobs Act changed the way tax is calculated.
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3 years ago

Your Competitive Intelligence team reports that a wave of product liability lawsuits is likely to cause Digby to pull the produc

anzhelika [568]

Answer:

The total capacity of the market in core products less the Digby's Deft is 10860 thousand units.

Explanation:

In order to completely answer the question, the complete question is found online. This question was missing some table attachments which are attached with it.

From the table, it is first noted that the core products are listed which are as below:

Axe
Bolt
Buzz
Deft
Dim

Now as mentioned in the question, deft is to be ignored so the remaining options are:

Axe
Bolt
Buzz
Dim

Now the capacities of these are included which are found from the table and are as follow:

Axe=2050

Bolt=1040

Buzz=1040

Dim=1300

So the total capacity of 1 shift is

Axe+Bolt+Buzz+Dim=2050+1040+1040+1300=5430 units

As there are two shifts running so the total capacity is 5430x2=10860

So the total capacity of market in core products less the Digby's Deft is 10860 thousand units.

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3 years ago

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1 year ago

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Answer:

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