Based on the fact that the purely competitive firm is producing at point q, in the long run we should expect firms to leave the industry and market supply to fall so that product price rises.
<h3>What will happen in the long run?</h3><h3 />
At point Q, the firm is making losses as total costs are more then price. Firms will therefore leave the market to avoid making losses.
This decrease in production will lead to reduced supply which will push the prices back up to a $0 profit level.
Find out more on pure competitions in the long term at brainly.com/question/3291231
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Answer:
Which of the following statements is correct?
Explanation:
Stock which has appreciated in value must be sold before it is considered part of gross income.
They both will confess to the other's crimes.
They both could get lighter sentences for co-operating with each other, but since they are not allowed to communicate with each other, and hence will have only their best interests in mind, to betray the other for his own good. However, when they both do this, it becomes a double betrayal, and hence their sentences become even longer.
Answer: Not very likely to get two consecutive drivers wearing seat belts.
Explanation:
From the question the report shows only 15% percent wear seat belts.
If 10 cars are selected at random the possibility of getting at least one wearing seat belt is
= 10× 15/100
==> 1.5 out of 10
1.5, is not upto average of 10 it's just a bit above the zero mark. Which makes the chances of meeting at least one driver wearing seat belt low.
To get consecutive drivers wearing seat belts, would be even a lower possibility. This is so due to the fact that according to the records the chances of meeting a driver on seat belts is low, and the possibility of it happening in quick succession is going to be smaller, because overall percentage of drivers wearing seat belts is small.
