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valentinak56 [21]
1 year ago
15

In the ________, the perfectly competitive firm will react to profits by ________

Business
1 answer:
ElenaW [278]1 year ago
8 0

In the long run, perfectly competitive firms will react to profits by increasing production.

Firms in a perfectly competitive world earn zero profit in the long run. While firms can earn accounting profits in the long run, they cannot earn economic profits.

In the long run, perfectly competitive firms will react to profits by decreasing production. CORRECT: In the long run, perfectly competitive firms will respond to losses by exiting the market. In the long run, perfectly competitive firms will respond to losses by reducing production.

A perfectly competitive market achieves long‐run equilibrium when all firms are earning zero economic profits and when the number of firms in the market is not changing.

In the long run, profits and losses are eliminated because an infinite number of firms are producing infinitely divisible, homogeneous products. Firms experience no barriers to entry and all consumers have perfect information.

Learn more about a perfectly competitive firm here: brainly.com/question/25327136

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the price of summer cabins. as summer​ approaches, the equilibrium price of rental cabins increases and the equilibrium quantity
Roman55 [17]

the price of summer cabins. as summer​ approaches, the equilibrium price of rental cabins increases, and the equilibrium quantity of cabins rented increases increase in demand.

When the price falls below the equilibrium price, the quantity demanded exceeds the quantity supplied, creating an excess demand (short supply) for the product. In other words, consumers want to buy more than producers are willing to sell. This mismatch between supply and demand drives up prices.

Price movements cause equilibrium movement along the supply curve. Such a movement is called a change in supply. Like changes in demand, changes in supply do not shift the supply curve. By definition, it is moved along the supply curve.

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4 0
1 year ago
In 2016, Teller Company sold 3,000 units at $600 each. Variable expenses were $420 per unit, and fixed expenses were $270,000. T
Aleksandr-060686 [28]

Answer:

1500

Explanation:

Breakeven point is the number of units produced and sold where net income is art on it is where revenue equals cost.

The formula for calculating break even points = F / (P - V)

F = fixed cost

P = price

V = variable cost per unit

$270,000 / ($600 - $420) = 1500

I hope my answer helps you

6 0
3 years ago
United States Steel Corporation’s (X) 7.5% bonds due in 2022 were reported as selling for 103.2.
kirill [66]

Answer:

because they are able to create it at a lower price

Explanation:

4 0
3 years ago
Suppose the Economist deletes several of the observations that had large residual values. If she re-estimated the regression equ
Advocard [28]

Answer:

hey there you need help

6 0
3 years ago
A fad shifts the demand curve for a toy to the right. When the fad ends, the demand curve will shift back to the left. How are t
NARA [144]

The shifts in the demand curve directly affect the demand for labor for the toy manufacturer which means the rightward shift in the demand curve requires more labor whereas the leftward shift requires less labor.

<h3>What do you mean by labor?</h3>

Labor also called human labor is the workforce who are engaged in the production of a product. The requirements of the labor totally depend on the demand for the product.

When the demand curve shifts toward the right that means the demand for the toys getting increases which leads to more requirements for human labor and when the demand curve moves towards the left, this means a decrease in demand for toys which results in lesser requirements for human labor. This shows a direct effect on the manufacturer of toys regarding the demand for labor.

Therefore, the changing of shifts will affect the manufacturer's demand for labor in a direct manner.

Learn more about the demand curve in the related link:

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8 0
1 year ago
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