Answer:
The price of trucking services would fall until equilibrium prices are reached. Only normal profit would be earned in the long 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.
Answer:<em><u> Offering a discount to students and seniors</u></em> will allow the chocolatier to know which types of consumers are likely to have a lower willingness to pay.
Here the price discrimination should be in respect with the demography i.e. allow the chocolatier to sell truffles to the consumer based on their age groups.
<u><em>The correct option is (3).</em></u>
Answer:
The correct answer is D
Explanation:
Lifestyle is stated or expressed in both leisure and work behavior patterns and in the values, activities, opinions, attitudes, interest and allocation of income. It also states the self image of the person.
In other words, it is the way of life created through individual, society, group or culture. It comprise of patterns of interest, work, consumption and interaction that define how the person spends their time.
So, in this case, the different in the lifestyle among Craig and Justin.
Answer:
Jessica's for AGI deduction for these costs is:
b. $14.00.
Explanation:
The aggregate gross income (AGI) can be defined as the total amount of income that an individual earns and is used in calculating the amount of income tax that an individual is liable to pay. The AGI can be expressed as follows;
AGI=T×N×W
where;
AGI=aggregate gross income
T=toll amount per way
N=number of times she reported
W=number of way
In our case;
AGI=unknown, to be determined
T=$1.75
N=4
W=2
Replacing;
AGI=(1.75×4×2)=$14.00
Jessica's for AGI deduction for these costs is:
b. $14.00.
<u>The reason that Pablo Picasso, become wealthy during his lifetime and the artist, Vincent van Gogh, remain poor his entire life:</u>
Pablo Picasso and Vincent van Gogh had more features in common. They had unanimously indistinct style of arts which had become immediately identifiable.
In spite of all that, Picasso died as a rich man owning an estate which is estimated at nearly 750 million dollar whereas Van Gogh died as a pauper.
Studies claim that the reason behind this would be that, Van Gogh remained to be a loner and socially inactive. He was depending on his brother to meet the social world and in contrast Picasso was a charismatic active member in various social clubs where her had multiple number of contacts and connections.
It's been said that Pablo Picasso was a hub who had a vast network of social lines and Vincent Van Gogh was a silent or solitary node.
But now, the paintings of both the greatest artists were well spoken and sell for more than 100,000,000 US Dollars.
