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SashulF [63]
3 years ago
10

The market for pizza is perfectly competitive and has​ 1,000 firms. Each firm is identical. Describe each firm in​ long-run equi

librium. In​ long-run equilibrium, each firm is​ _______.
A. just covering total variable cost
B. incurring an economic loss
C. making positive economic profit
D. making zero economic profit
Business
1 answer:
Stolb23 [73]3 years ago
8 0

Answer:

The correct answer is option D.

Explanation:

In a perfectly competitive market, firms can have positive economic profits only in the short run. In the long run, though, the firms can enter and exit the market, so if some firms among the 1,000 are having profits, it will attract potential firms to join the market.  

This causes the market supply to increase. This increase in supply reduces prices and profits.  

Similarly, if some of the firms among 1,000 are having losses in the short run, then in the long run, the firms incurring losses exit the market. This reduces market supply and thus increases price and profits.  

This process continues until all the firms are having zero economic profits.

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A bank has $8,000 in deposits and $6,000 in loans. It has loaned out all it can given the reserve requirement. It follows that t
Wittaler [7]

Answer:

c. 25 percent.

Explanation:

The computation of the reserve requirement percentage is shown below:

Given that

Deposits made = $8,000

Loans = $6,000

So the required reserve is

= deposits made - loans

= $8,000 - $6,000

= $2,000

Now the required reserve is

= $2,000 ÷ $8,000

= 25%

Hence, the correct option is c. 25 percent

We simply applied the above formula so that the correct value could come

And, the same is to be considered  

7 0
3 years ago
If a hotel wishes to determine where to spend resources on renovations - on interior decor or on curb appeal or on recreational
creativ13 [48]

Answer:

The correct answer is True.

Explanation:

The term Business Intelligence (BI) refers to technologies, applications and practices for the collection, integration, analysis and presentation of commercial information. The objective of Business Intelligence is to support better business decision making.

The automatic aspect of Business Intelligence should not go unnoticed. Daily information monitoring allows you to evaluate performance, monitor inventory and track expenses in real time.

Planning strategies without a thorough data analysis is like aiming in the dark. Business intelligence lights the way to make the best decisions in the management of your hotel.

The usefulness of technology to take data from the environment for strategic knowledge is evident as soon as it is launched. By extracting essential data from the environment and presenting it on dashboards, business intelligence allows managers and managers to make informed strategic decisions.

------

NOTE: If you need to extend the explanation given, you can make a comment or add a new question. I will be very pleased to help you.

4 0
2 years ago
1. Which country has the comparative advantage in DVDs? (Remember! OOO Output –Other goes Over!) [2 pts]
yarga [219]
The answer is Country B


Comparative advantages can be described as a country's ability to product a certain product in higher quantities and lower price (efficiently) compared to another country.

In this case, Country A can product  100 CDs and only 100 DVDs, by while country B has the capacity to produce 50 CDs but 200 DVDs.

Clearly Country B has a better infrastructure to produce DVDs in bulk

5 0
3 years ago
Read 2 more answers
Imagine that the U.S. economy has an initial unemployment rate equal to the natural rate of unemployment. Identify each event as
PilotLPTM [1.2K]

Explanation:

Let’s explore one by one as proposed:

An oil cartel raises oil prices: all prices in the oil-related products will increase making it more expensive for companies to be able to afford employees. As the US economy is heavily based on oil import and consumption, the unemployment rate (let´s call it UR from now on) would increase. Countries that export more than import could benefit from this scenario.

The U.S. dollar gains value against foreign currencies: It would be more expensive to produce goods in the US as its currency becomes stronger. Hence companies could choose to produce overseas, increasing the UR. One of the factors that attract investments is a cheap currency, meaning that a company could operate there at lower costs than anywhere else.

American consumers expect higher income in the future: As fights about average salary would arise between employees and companies, igniting even sindicalization, its proper to think that the same as above could occur; companies could choose to produce overseas in countries less demanding of labor rights and income, such as China provinces (I would recommend for you to watch American Factory, a awarded Netflix documentary about that subject).

Brazil experiences economic growth and increases its demand for U.S. exports: as I said in the first alternative, a country that has increased or more expensive exports could benefit from that creating more jobs, in this case decreasing the UR. If Brazil demands more US products, more has to be produced by the country, which would mean more people employed in this attractive sector.

U.S. real estate values rise: to be honest, it only affects indirectly. As housing becomes more expensive, people have to work more to be able to afford housing. That would mean they seeking better-paying jobs or in the absence of those being homeless of at least unable to buy a home. We could argue that the UR would decrease because it becomes more expensive to afford housing and hence people would migrate more but that’s a long shot rationale.  

5 0
3 years ago
Read 2 more answers
When interacting with a small number of rival​ firms, a manager uses a?
vaieri [72.5K]
It is known as a Strategy. An association's methodology that joins the greater part of its advertising objectives into one extensive arrangement. A decent showcasing procedure ought to be drawn from statistical surveying and concentrate on the correct item blend keeping in mind the end goal to accomplish the most extreme benefit potential and maintain the business.
6 0
3 years ago
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