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Sladkaya [172]
3 years ago
12

If firms can easily enter and exit a​ market, then A. firms will produce at minimum average cost in the short run. B. firms will

produce where price is less than marginal cost. C. firms will earn zero economic profit in the long run. D. firms will produce where price is greater than marginal revenue. E. firms will produce at minimum average fixed cost in the long run.
Business
1 answer:
enyata [817]3 years ago
5 0

Answer:

The correct answer is option C.

Explanation:

`If firms can easily enter and exit the market, then firms operating in the market will earn zero economic profit in the long run. This is because the short run is too short for firms to enter and exit so potential firms will enter and exit in the long run.  

If the existing firms will be having negative profits, the firms having loss will exit the market. This will reduce market supply. As a result, the price level will increase. This will go on until all firms will have zero economic profits.  

Similarly, if the existing firms are having positive economic profits in the long run, the other firms will enter the market. This will increase the market supply such that the price level decreases. This will go on till all the firms will be having zero economic profits.

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With relationship selling the salesperson would spend most of his or her contact time with the prospect talking about the produc
Vadim26 [7]

True, With relationship selling the salesperson would spend most of his or her contact time with the prospect talking about the product, hoping to close the sale.

<h3>What is the difference between relationship selling and consultative selling?</h3>

The difference between relationship selling vs. consultative selling is that relationship selling consists of building a relationship with a customer over a long time and then relying on that relationship for sales as opposed to short-term gains and creating an interest in the customer in consultative selling

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4 0
1 year ago
Carol Byrd gets a student rate of $30.00 a month for health insurance. There is a $250 deductible. She recently received treatme
e-lub [12.9K]

The company's payment = $1640,

Carol's total cost = $410.

<u>Step-by-step </u>

<u>Given:</u>

Bill amount = $2300

Amount of deductible = $250

Remaining amount is given by:

                                           =$2300-$250

                                          =$2050

Since Carol's insurance company provided paid 80% of the bill less the deductible.

So, the Company's Payment is given by:

Company Pays 80% which translates to 0.8

       Company Payment   = 0.8*2050

       Company Payment  = $1640

Carol's total cost after the payment of company is given by

                      Carol pays  = $2050 - $1640

                      Carol pays = $410

Hence, the company's payment was $1640, Carol's total cost was $410.

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8 0
2 years ago
Match the career with the education that the job requires.
natita [175]

I am figuring this question out for you! one moment please

Explanation:

8 0
3 years ago
The Chief Information Officer (CIO) and the Managing Director (MD) of Illustrious Limited recently had the following conversatio
-Dominant- [34]

Answer:

Illustrious Limited

a) I sympathize with the MD.  He noted "We have been through these types of projects before, and what always ends up happening is that we do not get the new system we are promised. Instead, we get a modified version of the old system."  The implication of his assertion is that something is missing in the way the CIO and her team had been handling system development projects in the past.  Even the CIO acknowledged the MD's assertions by assuring "that this will not happen this time."  In the past, the system development team had neglected understanding "what is working well and what is not."  This should not be the case in any good system development.  Preliminary analysis or investigation should uncover users' requirements and then conduct a thorough system analysis before the design and other stages are carried out in an iterative process.

b) I would recommend SCRUM instead of the Waterfall methodology.  With Scrum, the system development project is teamwork.   The team is held accountable and SCRUM utilizes iteration to achieve well-defined goals.  The SCRUM framework "begins with a simple premise, starting with what can be seen or known before it tracks progress and tweaks as necessary," to achieve set goals defined by users' requirements.

Explanation:

a) System Development is a process that follows a system development life cycle (SDLC) methodology and involves these seven stages: requirement analysis, system analysis, system design, development or programming, testing, implementation and documentation, and evaluation and support.

b) SCRUM is a framework in SDLC which follows "a set of meetings, tools, and roles that work in concert to help teams structure and manage their work."  SCRUM has been described as "an agile way to manage a project," especially software development because of its "iterative and flexible approaches."

c)  Waterfall model, on the other hand, follows linear sequential phases of conception, initiation, analysis, design, construction, testing, deployment, and maintenance, and each stage depends on the deliverables of the previous stage.  This is why "in software development, it tends to be among the less iterative and flexible approaches, as progress flows in largely one direction ("downwards" like a waterfall) through the phases."

4 0
3 years ago
Seamus dropped out of school as a 16-year-old and needs to support himself, though he has few skills. He is a part-time employee
Norma-Jean [14]

Answer:

B) physiological needs

Explanation:

According to the Maslow's hierarchy of needs, Physiological Needs are the fundamental needs that deals with the essential maintenance of humans, physically, emotionally and mentally and it include survival needs such as the need for food, reproduction, sleep, and air.

Physiological needs are non-negotiable as we all need them for human survival.

Hence, Seamus is having trouble meeting his physiological needs.

3 0
3 years ago
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