Answer: Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations and Expenses are the costs required for something; the money spent on something.
Answer:
shutdown in the short run
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
A firm should shut down in the short run if price is less than average variable cost.
for T-Shirt Enterprises, price is $2 which is less than average variable cost
Answer:
I'm pretty sure its 2346
Explanation:
might be wrong considering Edge loves to move answers around. <em>yes they do that....</em>
<span>When customers attempt to purchase alcoholic beverages who decides whether the sale is legal or not? The seller/server. Though the customer needs to be honest about their age and ability to purchase the alcoholic beverages, it is the sellers responsibility to check that the person is actually </span>eligible. The seller will check the buyers ID (identification card) and make sure they are hold enough to purchase alcohol. They have the right to deny the sale if the person is not legally allowed to purchase.
Answer:
Variable costs
Explanation:
Variable costs are those that vary with the level of activity of the company. For example, raw materials are a variable cost. If you sell 10 units at $1 per unit, the variable cost is $10. If you sell 15 units it's $15. Fixed cost remains the same regardless of the number of units sold.
