Answer:
TRUE
Explanation:
A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
In the short run, the firm would continue to operate if its revenue covers variable cost. if it doesn't it would shut down.
Answer:
(b) 12,500
Explanation:
GDP: expenditures approach:
eXports: 8,000 coffee + 6,000 cloth = 14000
iMports: 2,000 coffe beans + 3,000 expresso + 1,000 whool = 6,000
Net eXport: 14,000 - 6,000 = 8000
Consumption: 4000 clothes
Goverment spending: 500
Total = 12500
The whool industry did not sale to consumer it sale to the cloth industry and the GDP works with the sum of all finished (final) goods and services not intermediate else, these would be counted twice, once for the whool industry and again when we count the revenue of the cloth industry.
Answer:
economic integration I believe
Answer: A $1,500 fee for the home office requested.
Explanation:
The fees that an applicant for a mortgage banker must pay in New York include the following:
• An original mortgage banker bond of $50,000
• A fingerprint fee of $94.25
• A non-refundable $3,000 investigation fee.
It should be noted that a $1,500 fee for the home office requested isn't among the fees to be paid.
economic situation
created in 1959 as a doll for little girls in the times of moms usually at home, where as today the women being part of the 2 parent working household and sometimes sole supporter, Barbie has evolved over times with women being involved more in the workforce.
