Answer:
This statement is true.
Explanation:
In a perfectly competitive market, there are a large number of firms in the market. There is no barriers to entry to exit in the market. The firms are producing homogenous products.
The firms in this market will earn positive profits in the short run as in short run, the firms can't enter the market.
In the long run, though the firms will be attracted to the positive profits earned by the existing firms to enter the market.
This will cause the supply in the market to increase, this increase in the supply will shift the supply curve to the left. This leftward shift in the supply curve will reduce the price of the product.
The market share and profits of the individual firms will decline. This will continue till the profits are reduced to zero.
Answer:
Thiru Sandeep Saxena, IAS, Additional Chief Secretary to Government, Environment and Forests Department, Government of Tamil Nadu.
Answer:
29,867 units
Explanation:
Variable cost per unit (VC) = $75.00
Sales price (P) = 1.50 * VC = $112.50
Fixed costs (FC) = $1,120,000
Units sold (n) = ?
EBIT is given by:
Therefore, the number of units sold required to break even is:
Round up the value obtained to the next whole unit and the sales volume needed is 29,867 units.
In terms of employees researching their benefits means that
the employees have underestimate the cost and value of their benefits as they
try to research their rights an employer and their benefits or advantages that
they should acquire when they are working under a company or other field in
their line of work.
