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1 year ago

Competitive price taker firms always earn zero economic profit in long run equilibrium because:_______

1 answer:

3 0

Competitive price taker firms always earn zero economic profit in long-run equilibrium because of the following reasons which include easy entry & exit, small player etc.

Perfect competition exists when there are many sellers, firms can easily enter and exit, products are identical from one seller to the next, and sellers are price takers.

A perfectly competitive firm must accept the equilibrium price at which it sells goods because it is a price taker.

A perfectly competitive firm will be unable to make any sales if it charges even a small amount more than the market price.

Furthermore, a perfectly competitive firm must be a very small player in the overall market, allowing it to increase or decrease output without affecting the overall quantity supplied and price in the market.

Hence, Competitive price taker firms always earn zero economic profit in long-run equilibrium.

Learn more about Long-run equilibrium:

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Miranda is a network engineer. She has been hired to set up a network for a nonprofit organization with more than

sweet [91]

Answer:

hi your question lacks the options hence i will list out some factors to be considered :

The goal of the network
The training of the employees on how to use it
The budget of the organization
The maintenance

Explanation:

A network engineer is a professionally trained technology expert that his primary duty is to setup a computer network within an organization that enables the exchange of voice, data and video within the organization.

A network engineer has to consider some factors while performing his duties in other to do an excellent job for the organization and some factors to be considered are. the goal of the network which simply means that the network service required by the organization of what purpose do they want it, the training of the employees on how to use the network is also considered by the engineer the most important which is the budget of the organization and the maintenance of the network after it has been setup.

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3 years ago

If a journal entry and posting for the use of one month of rent from the prepaid rent account during the year is accidently omit

tensa zangetsu [6.8K]

Answer:

Expenses will be understated, hence, Net Income will be overstated.

Rent prepaid will be overstated, hence, current assets will be overstated.

Explanation:

Ordinarily, rent prepaid is meant to be credited every month to the tune of the the value that has been consumed and then added to period expenses to reduce net income.

In the statement of Financial Position, the same amount that has been consumed should be used to reduce balance in rent prepaid account, otherwise, current assets will be overstated if no adjustment is made.

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3 years ago

Explain two factors have affected the organisation of the businesses functional activities

Romashka [77]

Answer:

The two factors that affect the organization of businesses functional activities are ;

Strategy

Technology

Environment

Explanation:

Strategy determines the approach or the course of action to direct the activities of the organization of businesses. Strategy is the innovation room where new approach to solving a problem is discovered and implemented.

Technology; the technology for manufacturing goods and services affect the organization of business functional activities.

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2 years ago

Brokers differ from insurance agents in that ____

leva [86]

Answer: Option A

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Whereas insurance agents refers to the person who sell the insurance policies to the general public and in return gets commission from the insurance company on the premiums paid by the insured.

Hence from the above we can conclude that the correct option is A.

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2 years ago

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valentina_108 [34]

Answer and Explanation:

The computation of the net worth statement is shown below:

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Total assets $2,800 (A)

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Net worth $1,755 (A - B)

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2 years ago