Answer: The correct answer is "d. Statements II and III only.".
Explanation: Assuming that the firm is a profit maximizer in a perfectly competitive situation, the firm will:
- II. Decrease the average wage.
- III. Reduce the number of worker-hours it hires.
Answer:
d. the demand curve has shifted to the right.
Explanation:
An increase in demand is associated with a rightward shift of the demand curve.
A decrease in demand leads to a leftward shift of the demand curve.
Some of the factors that cause an increase in demand :
1. Increase in income if the good is a normal good.
2. Expectation of an increase in price in the future.
3. Increase in price of the substitute.
An increase in Quanitity demanded leads to an upward movement along the demand curve. Only changes in price leads to a movement along a demand curve.
I hope my answer helps you
Answer:
Profits: $297,000
Explanation:
Revenue is the money generated by a business by selling its products and services to customers. Expenses are the cost incurred in the production and selling of goods and services.
Profits arise when revenues exceed expenses.
For Malinda Auto dealership, the revenue ($895,000) exceed expenses($598,000). Therefore, the business will realize a profit.
Profit = revenue - expenses
=$895,000 -$598,000
=$297,000
A: A horizontal integration consists of companies that acquire a similar company in the same industry, while a vertical integrationconsists of companies that acquire a company that operates either before or after the acquiring company in the production process.
