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emmasim [6.3K]
3 years ago
5

For firms in perfectly (purely) competitive markets, long‑run economic profits are zero because firms will exit this market if p

rofits are less than that and enter if profits are greater than that ___.
Business
1 answer:
kolbaska11 [484]3 years ago
6 0

Answer:

The statement is true. For firms in perfectly (purely) competitive markets, long‑run economic profits are zero because firms will exit this market if profits are less than that and enter if profits are greater than that.

Explanation:

In economics, perfect competition is a form of market characterized by the impossibility of entrepreneurs to fix the sale price of the goods produced, which is instead set by the meeting of supply and demand, which in turn are an expression of utility and marginal cost. The firm cannot simultaneously determine the quantity and the market equilibrium price.

The definition of perfect competition refers to that situation in which, for the number of economic operators present on the market, each of them (whether it is an expression of demand or consumer and/or whether it is an expression of supply or producer) does not have the possibility to influence in any way, through their behavior, the sale price of the goods and/or services traded on the market.

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Sean works for Cash'n'Carry, a payday loan company. He has been asked to develop an ethical mission statement to reassure custom
soldi70 [24.7K]

Answer:

c. Emphasis on ethics

Explanation:

Sean has been tasked with developing a ethical mission statement with a view of reassuring customers on predatory lending practices.

This is a renewed emphasis on the ethics of the company and by so doing it will reassure the company is aware of the ethical practice in this regard and that they are pledging to act ethically.

Ethics is defined as the process of systemising and recommending concepts of right and wrong. It is also called moral philosophy.

4 0
3 years ago
Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics. The effect of g
DaniilM [7]

Answer: See explanation

Explanation:

We should note that microeconomics deal with a particular sector in the economy and not the whole sector. Macroeconomic deals with the whole economy and looks at ways by which the decisions of government have an effect on the whole economy.

Based on the above explanation, the answer is provided below:

• The effect of government regulation on a monopolist's production decisions= Microeconomics

• The effects of government tax policy on long-term economic growth = Macroeconomics

• The optimal interest rate for the Federal Reserve to target = Macroeconomics

4 0
2 years ago
According to the _____________ of Alderfer’s ERG theory, an already-satisfied lower-level need can become reactivated when a hig
BaLLatris [955]

Answer:

regression theory

Explanation:

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Alderfer proposed a regression theory to go along with the ERG theory, where he propounded that <u>when needs in a higher category are not met then individuals redouble the efforts invested in a lower category need.</u>

For example if self-actualization or self-esteem needs in the Maslow's hierarchy of needs are not met then individuals will invest more effort in the physiological and safety category in the hopes of achieving the higher need.

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2 years ago
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PSYCHO15rus [73]
User centered systems
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3 years ago
Read 2 more answers
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alexgriva [62]
The statement above is TRUE.
Social mobility refers to the movement of individuals or families within or between social strata in a particular society. It means a change in social status relative to one's present location with a given society. Social mobility in US does not depend on where one start in the class system; one can come from the lowest class strata and become one of the richest individual and an individual from a very rich family can also end up as a p.auper. A lot of factors come to play in these situations.
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3 years ago
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