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2 years ago

If monopolistic competitors must expect a process of entry and exit like perfectly competitive firms,.

1 answer:

6 0

If monopolistic competitors must expect a process of entry and exit like perfectly competitive firms, they will be unable to earn higher-than-normal profits in the long run.

<h3>What is a monopolistic competition?</h3>

A monopolistic competition is an industry characterised by many sellers of differentiated goods and services. A monopolistic competition has characteristics of both a monopoly and a perfect competition. A monopolistic competition sets the price for its goods and services. A monopolistic competition makes economic profit in the long run. An example of monopolistic competition are restaurants

A perfect competition is an industry characterized by many buyers and sellers of identical goods and services. Market prices are set by the forces of demand and supply. In the long run, firms earn zero economic profit due to no barriers to the entry and exit of firms.

Here are the options:

A. they will be unable to earn higher-than-normal profits in the short run. O B. they will wish to cooperate to make decisions about what price to charge.

OC. they will wish to cooperate to make decisions about what quantity to produce.

O D. they will be unable to earn higher-than-normal profits in the long run.

To learn more about monopolistic competition, please check: brainly.com/question/21052250

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Haft Construction Company determines that 54,000 pounds of direct materials are needed for production in July. There are 3,200 p

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Answer:

cost of direct materials purchases 160,800

Explanation:

pounds required for production 54,000

desired ending inventory 2,800

total needs 56,800

beginning inventory (3,200)

units to be purchased 53,600

cost per unit of direct materials 3

cost of direct materials purchases 160,800

<u>Notes:</u>

The pounds for production and the ending inventory are the raw materials demand.

The beginning inventory is a portion we already have, so we need to purchase less.

Then, we multiply the pounds to be purchased by their cost to get the total cost for direct materials

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3 years ago

Should a firm shut down if its weekly revenue is $1 comma 000, its variable cost is $600, and its fixed cost is $800, of w

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Answer: The correct answer is "C. produce because revenue of $1 comma 000 is greater than fixed costs.".

Explanation: The firm should produce because the revenue of 1000 is enough to cover the fixed costs and part of the variables (1000 - 800 - 600 = (-400)) so that the loss is less than if it stopped producing despite the avoidable costs (800 - 350 = 450) since if it stopped producing it would have a loss of $ 450 and producing it would have a loss of $ 400.

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3 years ago

Assume that a college student spends her income on Coke and Snickers. During finals week, the price of a Snickers candy bar is $

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Answer:

The answer is: 10 Snickers bars and 20 cans of Coke.

Explanation:

To find out what combination she can buy with her total income ($32.50) we can just multiply the price of each product by its quantity;

If she buys 24 snickers bars and 12 cans of coke she will spend:

(24 x $0.75) + (12 x $1.25) = $33 SHE CAN´T AFFORD TO BUY

If she buys 24 snickers bars and 12 cans of coke she will spend:

(22 x $0.75) + (14 x $1.25) = $34 SHE CAN´T AFFORD TO BUY

If she buys 24 snickers bars and 12 cans of coke she will spend:

(15 x $0.75) + (18 x $1.25) = $33.75 SHE CAN´T AFFORD TO BUY

If she buys 24 snickers bars and 12 cans of coke she will spend:

(10 x $0.75) + (20 x $1.25) = $32.50 <u> </u><u>SHE CAN AFFORD TO BUY</u>

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3 years ago

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B. Debit insurance expense for $13,500 and credit prepaid insurance for $13,500.

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If 6 months past from the beginning of the contract then these past 6 months must be reflected as expenses in the balances.

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