Answer:
either the selling price decreases or the total output decreases
Explanation:
The firm's income statement:
total sales revenue = $120,000
minus total variable costs = ($72,000)
<u>minus total fixed costs = ($15,000) </u>
net profit = $33,000
The long run equilibrium for a monopolistically competitive firm occurs when the firm is making no economic profit since it is charging a price = average total cost.
In this case the average total cost per unit = $6 per unit + ($15,000 / 12,000 units) = $7.25 per unit
Since the firm is currently charging a higher selling price than average total cost ($10 > $7.25), one or two things might happen in the long run:
- selling price will decrease
- output will decrease
Answer:
The Correlation analysis “R” is measured to compute the strength of relationship among variables. Moreover, the value of correlation is calculated among -1 to +1. Which implies that if the computed value is near to -1 then there will be strong but negative relation and if near to +1 then it is strong but relation among the variable. However zero is consider as neutral point.
A. The computed value of correlation is - 0.772. The value identifies that that there is a strong but negative association among the variables (GDP and infant mortality rate).
B. The correlation analysis cannot computed among the variables continent and GDP because "continent" is a categorical variable not quantitative.
C. The computed value of correlation is higher than 1. Thus, the statement implies that there is a very strong relationship among life expectancy and GDP which is incorrect. As the association cannot be higher than 1.
D. There is a strong relationship among literacy rate and GDP as the relationship is nearer to 1. Furthermore, the association among literacy rate and GDP doesn’t suggest the causation.
E. The computed correlation among the variables is 0.90. Which indicated that the variables goes up. That is, when the GDP goes down the import is also decrease and when GDP increases the import increases Thus, the there is a positive correlation.
Answer:
The correct answer is - No,
Explanation:
The correct answer is - No,
The answer is no because the broker brings a buyer who is ready to give 1005 cash offer which is against the legal agreement defined by the owner. owner state that he is only taking a 25% cash offer.
Therefore the owner wouldn't consider the broker and didn't due broker commission.
Answer:
B) $617,000
Explanation:
Issuance capital of 500,000 shall remain constant. Out of the current year net earnings 25000 we are paying 2000 as dividend so, that adds to the owners equity = 23000.
Total liabilities = total assets = 500000 + 23000 + 94000 = 617000
The correct answer is C,
A good is said to have an inelastic supply if the suppliers did not have any choice than producing it even though the cost of production is high and the buyers did not have any choice than buying it even though it is expensive.
No one can do without shoes, even if they are expensive, we still need to buy them.
