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2 years ago

Regardless of quantity in long-run equilibrium, the industry price cannot exceed the?

1 answer:

Crank2 years ago

3 0

An extremely large number of vendors, each of whom makes a comparable or same product, make up a competitive market. The total of all these unique outputs, which each provider produces as a small portion of the market as a whole, represents the production of that industry. This includes dry cleaners, corner stores, barbershops, and florists.

A market that has just one supplier is considered a monopolist at the other extreme. Examples include the fact that the National Hockey League is the only provider of top-notch professional hockey matches in North America, Hydro Quebec is the province of Quebec's sole electricity supplier, and Via Rail is the only provider of passenger rail services between Windsor, Ontario, and the city of Quebec.

Equilibrium: What Is It?

When market supply and demand are in balance, prices become steady. This is known as equilibrium. In general, a surplus of goods or services leads to lower prices, which increases demand, whereas a shortfall or under supply raises prices, which decreases demand.

To learn more about Equilibrium from the given link.

brainly.com/question/517289

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Kahneman and Tversky used experiments to examine how people actually make decisions about risk. The researchers found a multi-st

blsea [12.9K]

Answer:

prospect theory is the correct answer.

Explanation:

Prospect theory is the psychological theory explained by Daniel Kahneman and Amos Tversky in the year 1979.

Prospect theory is also termed as loss aversion theory.

Prospect theory explains how somebody makes a decision and choose among the several options in the risk situation.

Prospect theory is used to explain different perspectives of political and economic decision making such as in international connections.

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3 years ago

Maria's New Year's Resolution is to save

dangina [55]

C. Intentional

Hope this helps!

4 0

2 years ago

Read 2 more answers

In a make-or-buy decision, a. the company must choose between expanding or dropping a product line. b. the company must choose b

Travka [436]

Answer:

Correct option is (c)

Explanation:

Make-or-buy decision is a form of strategy to analyse if a product must be manufactured internally or sourced from outside suppliers.

Cost and benefits related to the product being produced internally or outsourced is studied and compared before arriving at a decision. If cost of producing and storing goods are less as compared to the cost incurred in outsourcing, then decision to make will be taken and vice-versa.

So, make-or-buy decision involves considering relevance of purchase price of goods sourced externally.

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3 years ago

Tomas earned $89 in interest on his savings account last year and has decided to leave the $89 in his account this coming year s

mamaluj [8]

Answer:

compound interest

Explanation:

compound interest is a practice where the interest earned qualifies to earn more interest. Compound interest is offered on some savings accounts. The interest earned every year is not withdrawn but is added to the principal amount. The principal amount increases at the beginning of every period.

The act of adding interest to the principal, which results in interest earnings on interest, is known as compound interest. Accounts that offer compounding interest are preferred to simple interest accounts. A saved amount in a compound interest account will grow faster as the principal amount will increase every year.

7 0

3 years ago

Jacoby Company received an offer from an exporter for 26,200 units of product at $18 per unit. The acceptance of the offer will

Leokris [45]

Answer:

The change in revenue (differential revenue from the acceptance of the offer) will be $ 471600

Explanation:

The revenue represents the total sales of the product, regardless of the costs, then If the company produced initially Q units the initial revenue will be

Initial Revenue=total sales= P₁*Q₁

- Since the offer does not alter the domestic sales prices P₁ , the price P₁ remains constant.

- Since the sales does not affect normal production , the quantity sold to the domestic market Q₁ is also not affected ( i don't need to resign units to the domestic market to sell to the exporter)

then

New revenue= Revenue from the exporter + Revenue from the domestic market = Revenue from the exporter + Initial revenue

where Revenue from the exporter=P₂*Q₂ , P₂= price sold to the exporter and Q₂= units sold to the exporter

therefore the change in revenue will be

Change in Revenue= New revenue - Initial Revenue = Revenue from the exporter

Change in Revenue=P₂*Q₂=$18 /unit* 26200 unit = $ 471600

Note:

The profit represents the revenue, taking into account the costs. Then the change the initial profit will be

initial profit = P₁*Q₁ - (CF+CV*Q₁)

the New profit

New profit = P₂*Q₂+ P₁*Q₁ - [CF+CV*(Q₂+Q₁)]

and the change in profit

change in profit= New profit - initial profit = P₂*Q₂+ P₁*Q₁ - [CF+CV*(Q₂+Q₁)] -[P₁*Q₁ - (CF+CV*Q₁)]= P₂*Q₂ - CV*Q₂ = (P₂- CV)*Q₂ = ($18 /unit- $12 /unit)* 26200 unit = $ 156000

3 0

3 years ago