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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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4 years ago
Harrison Forklift's pension expense includes a service cost of $27 million. Harrison began the year with a pension liability of
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Answer:

Explanation: see attachment below

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Which type of firearm sight is simple, inexpensive, and standard on most handguns?
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3 years ago
Gail K. Company manufactures waterproof cell phone covers. During the current month, the purchasing manager purchased $26,700 of
Marianna [84]

Answer:

D : $88,800

Explanation:

<u>Cost of goods manufactured :</u>

Direct Material used in production                         $ 21,300

Indirect Material used in production                       $  3,700

Direct Labour                                                           $ 34,100

Direct Labour                                                           $  5,900

Manufacturing overhead                                       <u> $ 16,600 </u>

Total Manufacturing cost                                        $ 75100

Add:Beginning Work in process inventory            $7,200

Less: Ending Work in process inventory                <u>$ 0       </u>

Cost of Goods Manufactured                                 <u>$88,800</u>

6 0
3 years ago
Three Economic Concepts: Summary of your group discussion:
lesya692 [45]

Answer:

orange: scarcity, supply and demand, costs and benefits yellow: how do sanctions affect Russia's economy?, why are there sanctions in Russia?, who's or what's the cause of the sanction? blue: Russia could have issues with veto and passing laws. They had too much stuff to watch out for and needed more resources. Wanted to be smart with their decisions. (I tried my best sorry if I messed up somewhere forgive me :-;)

Explanation:

6 0
2 years ago
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