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mash [69]
3 years ago
8

Assume that the market for soybeans is purely competitive. currently, firms growing soybeans are experiencing economic profits.

in the long run, we can expect:
Business
1 answer:
aleksley [76]3 years ago
4 0

In the long run, we can expect: new firms to enter, and the industry’s supply to increase.

The supply would increase as new firms will try and enter the same business and they will be producing soybeans too. We have to assume that these firms have recently found out that growing soybeans will mean an increase in economic profits.

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Which of the following statements is not true for T accounts?
Sever21 [200]

Answer: The statement "d. The excess of the credits of an asset account over the debits is the balance of the account.". is <u>NOT TRUE.</u>

Explanation: The statement "d." is not true because according to the basic equity equation (ASSETS = LIABILITIES + EQUITY).

The excess of the debits of an asset account over the credits is the balance of the account and the excess of the credits of an owner's equity account or a liability account over the debits is the balance of the account.

5 0
3 years ago
You have just received notification that you have won the $3 million first prize in the Centennial Lottery. However, the prize w
son4ous [18]

Answer:

The present value of your windfall if the appropriate discount rate is 10 percent is $5,562

Explanation:

Amount of Prize = $3,000,000

number of year = 66 years

Discount Rate = 10%

use following formula to calculate the Present value of Lottery prize

Present Value = Future value / ( 1 + discount rate )^number of years

PV = FV / ( 1 + r )^n

PV = $3,000,000 / ( 1 + 0.10 )^66

PV = $3,000,000 x ( 1 + 0.10 )^-66

PV = $3,000,000 x ( 1.10 )^-66

PV = $5,561.65

PV = $5,562

8 0
3 years ago
The operations vice president is adjusting the production quantities for the upcoming month of March for the coal company. Last
12345 [234]

Answer:

The correct answer is letter "B": Increase output and hire more workers.

Explanation:

According to the supply law, if the price increases so will the quantity supplied and if the price decreases the same will happen with the quantity supplied. We could say that the relationship between price and quantity supplied is directly proportional.

In the example, <em>as the price of coal increased so will the quantity supplied</em>. <em>If there is to be more supply the output should be higher which is likely to be interpreted in a need for more employees</em>.

6 0
3 years ago
Charlie’s utility function is ????(x????,x????) = x????x????. The price of apples used to be $1, the price of bananas used to be
Reptile [31]

Answer:

The other options are ; (a) 4 apples (b) 13 apples (c) 11 apples (d) None of the above

Explanation:

The detailed analysis and step by step calculation is as shown in the attached files.

The correct option is NONE OF THE ABOVE

3 0
3 years ago
Question 1
Virty [35]
<span>Which choice is the correct statement about "comprehensive" insurance?
B. Comprehensive insurance provides you coverage for both collision and physical damage.

Question 2
If I make a lot of claims on my insurance, my insurance cost will probably go up. TRUE

Question 3

What are some of the obligations you must fulfill for an insurance policy to be in effect? C. Both A and B.

What is collision insurance? B. Collision insurance is the coverage your insurance company gives you that only covers physical damage to a vehicle. Collision insurance usually has a "deductible" which means that the company will not pay 100% of damages.

All insurance companies charge the same rates for insurance coverage. FALSE

What is an insurance "deductible"?
D. An insurance deductible is what you pay yearly for car insurance if you don't have accidents.

What is an insurance policy?
B. An insurance policy is a document that tells you what you must pay for insurance coverage and what the insurance company is - and is not - covering.

What is the purpose of insurance?
D. Both B and C.

Life insurance can be most valuable in which of these cases?
D. Both B and C.

It is always smart to compare insurance costs between different companies. Insurance agents are usually good people. But remember that the job of insurance agents at most companies is to sell you their insurance policies. Their job is not to tell you that another company has a better and less-expensive policy. True.

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C. The type of car you drive.

In which cases does property insurance normally give you coverage?
D. All of the above.

Some insurance usually has a higher price for younger people because younger people have more accidents.FALSE

Health insurance is designed to cover some or all of your expenses related to accidents and some health issues.TRUE

Which actions will many insurance companies take if you receive a DUI?
C. Both A and B.
</span>
6 0
3 years ago
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