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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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With the start of the subprime financial crisis in August 2007, the dollar ________ in value against the euro as the Fed lowered
jek_recluse [69]

Answer:

C) declined; rise

Explanation:

When the fed cut the interest rates, the value of the dollar fell against the euro, because lower interest rates means that investors get a lesser return for their dollar assets, and as result, prefer to invest in euros, leading to a devaluation of the American currency.

The opposite occurred when the European Central Bank cut interest rates in Europe, after the financial crisis spread there. Again, lower interest rates in Europe meant that investors would earn a lower retunr on their euro assets, and because of that, they preferred to invest in dollars, or move to other currencies (for example, currencies from developing countries like China).

6 0
4 years ago
From 2006 to 2010, per capita real gross domestic product (GDP) in the Philippines grew an average of 3.16% per year. At that ra
Nutka1998 [239]

Answer:

years to double GDP  = 22.15   = 22 years

so here correct option is c. 22 years

Explanation:

given data

average growth rate  = 3.16% per year

Rule of 70

to find out

how many years will the Filipino economy double in size

solution

we know that according to Rule of 70

years to double GDP is express as

years to double GDP  = \frac{70}{growth\ rate}       ......................1

put here value of average growth rate in equation 1

years to double GDP  = \frac{70}{growth\ rate}

years to double GDP  = \frac{70}{3.16}

years to double GDP  = 22.15   = 22 years

so here correct option is c. 22 years

8 0
3 years ago
Differences between international marketing and international trade​
Anastaziya [24]

Answer:

international trade ; The exchange of goods or services along international borders.

International Marketing ; is the application of marketing principles to satisfy the varied needs and wants of different people residing across the national borders.

Explanation:

good luck m8

3 0
3 years ago
The cost system best suited to industries that manufacture a large number of identical units of commodities on a continuous basi
ValentinkaMS [17]

Answer:

Process Costing

Explanation:

Process Costing allows so many units to be in production at the same time which are identical. The cost of each unit can be determined by calculating the average price using to total units produced.

7 0
4 years ago
Until recently, Visual Electronics manufactured Blu-ray players on an assembly line with each worker performing only one simple
bezimeni [28]

Answer:job enlargement

Explanation:

Job enlargement is a method of increasing motivation by combining a series of tasks into one job that is more challenging and interesting.

6 0
4 years ago
Read 2 more answers
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