Answer:
ion the answer do u have options ?
Explanation:
Answer:
A) making zero economic profit
Explanation:
A perfectly competitive industry is where there are many firms producing homogenous goods and services. There are no barriers to entry or exit of firms. Prices are set by market forces. Buyers and sellers are price takers.
In the short run, if firms in a perfectly competitive market are earning economic profits, in the long run, new firms enter into the industry and economic profit falls to zero.
In the short run, if firms in a perfectly competitive market are earning economic loss, in the long run, firms leave the industry and economic profit goes up to zero.
I hope my answer helps you
Brennan Manufacturing monitors the number of customer returns for each product model to attempt to track when the organization is producing a large number of defective products. This is an example of: Feedback control.
Answer:
increased measured GDP by the full value of the restaurant meals.
Explanation:
Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.
GDP calculated using the expenditure approach = Consumption spending + Investment spending + Government Spending + Net Export
Some items are not included in the calculation of GDP. Some of these items are :
1. Services rendered to ones self
2. Intermediate goods
3. Illegal activities
4. Transfer payment by government.
Households cooking at home is an example of services rendered to ones self and it is not included in the calculation of GDP.
While services rendered by resturants are included in the GDP through consumption spending by households.
So if families decide to eat more at resturants, GDP is increased by the full value of resutrant meals.
I hope my answer helps you
Answer:
Income Tax Expense (Dr.) $49,080,000
Deferred Tax Liability (Cr.) $49,080,000
Explanation:
Income tax expense = ( Taxable Income for the year + building and equipment taxable amount + Prepaid Insurance - Liability or contingency Loss ) * Tax rate
Income Tax expense = ( $117,000,000 + $14,700,000 + $2,300,000 - $11,300,000) * 40%
Income Tax expense = $49,080,000
