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Citrus2011 [14]
4 years ago
6

Suppose the equilibrium price in a perfectly competitive industry is​ $15 and a firm in the industry charges​ $21. Which of the

following will​ happen? A. The​ firm's revenue will increase. B. The firm will not sell any output. C. The​ firm's profits will increase. D. The firm will sell more output than its competitors.
Business
1 answer:
iren [92.7K]4 years ago
3 0

Answer:

B. The firm will not sell any output.

Explanation:

A perfectly competitive industry happens when there are many sellers, the products are the same between sellers and it is easy to enter and leave the market. In this type of industry a company has to take the equilibrium price because the are several firms competing and if it tries to charge even a small amount higher than that, people will not buy anything as they will go with the competition.

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<span>More money should be invested than is saved. This net investment allows for a growth in both human capital and equipment that leads to an increase in output and an increase in employment. An increase in employment increases the overall output even further, allowing for more demand, more revenue, and further investment.</span>
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How do effective leaders benefit a business?:​
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3 years ago
Which of the following is not normally viewed as an adjustment to the principal of an estate? Multiple Choice Insurance expenses
Alex787 [66]

Answer:

Correct Answer:

E. Funeral expenses.

Explanation:

Adjustment to the principal of an estate is a process which allow a trustee to make adjustments between income and principal over a given period of time. This income could be as a result of minor or major money earned as well as the debts incurred.

5 0
3 years ago
Cardinal Company's bank statement showed a balance at May 31 of $180,974. The only reconciling items consisted of a large number
kicyunya [14]

Answer:

$129,127

Explanation:

Cardinal company bank statement showed a balance of $180,974 at May 31

The reconciling items consisted of outstanding checks of $51,847

Therefore, the amount that should be shown in Cardinal cash account on May 31 can be calculated as follows

= $180,974-$51,847

= $129,127

Hence a balance of $129,127 should be shown on the Cardinal cash account on May 31

3 0
3 years ago
3.1 Balance sheet: Given the following information about Elkridge Sporting Goods, Inc., construct a balance sheet for June 30, 2
denis23 [38]

Answer:

Retained earnings is  $97,118.00  

Explanation:

The retained earning is the difference between the total assets on one side and the total of liabilities plus common stock on the other hand.

In the balance sheet, the retained earnings in the balancing figure between the assets side and the liabilities side

Download xlsx
5 0
3 years ago
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