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Lyrx [107]
3 years ago
12

Long-run adjustments in purely competitive markets primarily take the form of

Business
1 answer:
alexandr1967 [171]3 years ago
7 0

Answer:

2. entry or exit of firms in the market.

Explanation:

A perfect competitive market is when there are many buyers and sellers of homogenous goods and services.

Firms sell homogenous products both in the short and long run.

There are no barriers to entry and exit of firms into the market.

Firms in a perfect competition earn zero economic profit in the long run. If in the short run, firms make economic profit, firms enter into the market in the long run.

If in the short run, firms make economic profit, firms leave the market in the long run.

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You saved $500 in currency in your piggy bank to purchase a new laptop. The $500 you kept in your piggy bank illustrates money’s
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Answer:

The answer to the three fill in the banks as per order given in question are- store of value , unit of account , medium of exchange.

Explanation:

When $500 are kept in piggy bank to buy laptop, it illustrates the store of value function of money. This is a function where money is kept or stored to purchase some item in the future, given money doesn't lose its purchasing power .

The $500 price of laptop shows the unit of account function of money , where money is the standard numerical of measurement for the goods and services or any other transaction in the market.

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7 0
3 years ago
A customer sells 1 ABC Corporation put for 2 on February 22, 2019, with a strike price of 50 and an expiration date of March 16,
Deffense [45]

Answer: a. He has an acquisition cost of $4,800 and a date of acquisition of March 15, 2007.

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A Put amount gives the holder the right to sell underlying assets. As the Put was exercised, the customer would have to buy the underlying stock and the price they will pay for it is the strike price of the Put less the cost of the Put.

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