A traditional economy is<span> an original economic system where traditions, customs, and beliefs shape the goods and services the economy produces, and also the the rules and manner of their distribution.</span>
Answer:
47,000
Explanation:
Impairment Loss = Book Value − Fair Value
$180,500 − $133,500 = $47,000
Answer:
The correct answer is option B.
Explanation:
In the perfect co petition firm is a price taker. Firms do not decide price. Price is determined by demand and supply intersection. Firms face a horizontal demand curve. They can only adjust the quantity they supply.
In a perfect competition, if the price is not able to cover the average variable cost, it means that the firm will be incurring losses. The firm will thus shutdown and stop production.