Answer:
A. Both types of firms produce at minimum ATC.
Explanation:
A monopolistic competition is when there are many buyers and sellers of differentiated goods and services.
A monopolistic competition is characterised by little or no barriers to entry or exit of firms. In the short run, if a firm is earning economic profit, in the long run, firms enter into the industry and drive economic profit to zero. Also, if the short run, firms are earning economic loss, in the long run, firms would leave the industry and economic profit would be zero.
A monopolistic competition doesn't produce at minimum ATC and as a result it operates with excess capacity.
A perfect competition is characterised by many buyers and sellers of homogenous goods and services.
There are no barriers to entry or exit of firms into the industry. So firms make zero economic profit in the long run.
It produces at minimum atc and where Mr equals mc.
I hope my answer helps you
Answer:
Wilbur cannot rescind the contract based on his unilateral mistake.
Explanation:
Lets suppose that I made an offer of $1000 which you accepted to buy my car on a phone call for $1000 and later in the same day a person offered me more money for the same car and I sold the car to him. You went to court and I said that I mistakenly made an offer of $1000 which means that every person who revoke the clauses will make lame excuses in the court. If this act is permitted then the law gives the people free hand whatever they desire to do with the contract. So for this reason this act was considered unethical and the court said that the mistakes that are unilateral are not be rescind.
Answer:
here is a 63.25% for winning the debate given the student distribution and the chance of success of each type of student.
Explanation:
As the student will be picked at random we can determiante the expected value by doing a weighted average:
![\left[\begin{array}{cccc}$Student&$Return&$Probability&$Weight\\$Sophomore&0.2&0.2&0.04\\$Junior&0.6&0.35&0.21\\$Senior&0.85&0.45&0.3825\\Total&&1&0.6325\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7D%24Student%26%24Return%26%24Probability%26%24Weight%5C%5C%24Sophomore%260.2%260.2%260.04%5C%5C%24Junior%260.6%260.35%260.21%5C%5C%24Senior%260.85%260.45%260.3825%5C%5CTotal%26%261%260.6325%5C%5C%5Cend%7Barray%7D%5Cright%5D)
<u>According to keynesianism, as more items are being made, what happens to prices D. the prices stay the same</u>
Explanation:
Keynes advocated that an increased government expenditures and lower taxes can stimulate demand and it can pull the global economy out of the depression.
Keynesians believe that, because prices are somewhat rigid, fluctuations in any component of spending like consumption, investment, or government expenditure will cause the output to change. If government spending increases, for example, and all other spending components remain constant, then output will increase.
<u>According to keynesianism, as more items are being made, what happens to prices D. the prices stay the same</u>
Answer:
D. only those workers in jobs that would normally pay more than minimum wage.
Explanation:
A minimum wage is a price floor implemented by the government, which ensures that an employer must pay a minimum rate of pay to an employee, and anything lower than this rate of pay is illegal. “A minimum wage is binding if it is set above the equilibrium wage.
