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slega [8]
4 years ago
14

During the summer, alex runs a lawn-mowing service, and lawn-mowing is a perfectly competitive industry. in the short run, alex

will shut down his lawn-mowing service rather than continue with it if:
Business
1 answer:
trasher [3.6K]4 years ago
5 0
 In the short run, Alex will shut down his lawn-mowing service rather than continue with it if the total revenues would not be able to cover the total variable costs he has.  A perfectly competitive industry is a market structure where all the firms in the market sells the same product, the firms cannot control the prices of the product, they have a small share in the market, the consumers know all of the information about the product and the products would have a freedom of entry and exit. Most likely, firms in that certain industry would be able to sell well depending on how they would advertise and market their product. 
You might be interested in
For organizations to be successful, they must have competent communicators.<br> True or false
Mandarinka [93]

Answer:

True

Explanation:

Must have ... definition of competent: "Having the necessary ability, knowledge, or skill to do something successfully."

Meaning:

For an organization to be successful, it must have a person who is able to convey or exchange information, especially one who is eloquent or skilled, with the "necessary ability, knowledge, or skill to do something successfully."

So...:

You cannot be a successful organization without someone who is good at getting their point across.

(Pay attention to definitions and put the peices together) :D

8 0
3 years ago
Valley Designs issued a 90-day, 6% note for $96,000, dated April 22, to Bork Furniture Company on account. Assume 360 days in a
Novay_Z [31]

Answer: Please see answer in explanation column

Explanation:

a) Due date = April 22+90 days =  July  21

b) Maturity value = 96,000+(96,000*6%*90/360) = $97,440

c1) Journal entry  for receipt of note by Bork Furniture

           journal       Debit                          Credit

Notes receivable       $96,000  

Account receivable                                        $96,000

C2) Journal entry  to record receipt of payment at maturity

 journal                     Debit                             Credit

Cash                        $97,440  

Notes receivable                                            $96,000

Interest revenue                                       $1,440 (97,440-96,000)

3 0
3 years ago
Suppose a farmer in Georgia begins to grow peaches. He uses​ $1,000,000 in savings to purchase​ land, he rents equipment for ​$5
Brut [27]

Answer:

($500,000)

Explanation:

Economic profit = revenue - explicit costs  - implicit costs (opportunity cost)

The revenue is = $3.00 x 250,000 peaches

                         = $750,000

The explicit costs are = land cost + equipment rent + salaries

                                    = $1,000,000 + 50,000 + 140,000

                                    = $1,190,000

The implicit costs are = interest income + earnings as a shoe salesman

                                    = $20,000 + $40,000

                                    = $60,000

Economic profit = $750,000 - $1,190,000 - $60,000

                          = ($500,000)

Thus, the farmers' total economic profit is actually a total economic loss of $500,000

6 0
4 years ago
Suppose your firm invests $100,000 in a project in Italy. At the time the exchange rate is $1.25 = €1.00. One year later the exc
Marrrta [24]

Answer:

political risk.

Explanation:

political risk: This is risk or changes in government policy that adversely affect the fortune of companies operating in a country. Since Italian government expropriated the company paid only €80,000  as again €125,000 that the company worth. The company has suffered political risk.

Exchange rate risk or currency risk: It is a risk arising from frequent changes in exchange rate or amount in which a country's currency can be exchange for another currency. Since exchange rate remain the same i.e.  $1.25 = €1.00, exchange rate risk did not occurred.      

6 0
3 years ago
When an employee evaluates his or her manager low on all performance criteria due to dissatisfaction with the manager's disposit
Anton [14]

Answer:

The correct answer is D

Explanation:

Horns error is the term which defined as the error, where the opinion of one is color with the opinion of the others. This kind of error involves or comprise the negative ratings. This will be called as the horns error.

In this case, an employee computed the manager low on all the performance due to the dissatisfaction with the disposition of the manager. So, the employee committed to a horns error.

8 0
3 years ago
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