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:
Fund Transfers, online bill payments, customer service, financial advisory
Explanation:
1. Funds Transfer: The fund transfer activity is by far the most celebrated internet banking activity. People can send money to friends and family by accessing their accounts on the internet. The major advantage of this method is that it can be done even after banking hours.
2. Online Bill Payments: People no longer need to drive long distances and stand on intimidating queues to pay bills and renew licenses, such activities can be carried out online.
3. Customer Services: A large number of customer complaints and queries are now been resolved online without having to physically enter the banks.
4. Financial Advisory: Issues about investments types and duration are being discussed and in some cases finalized online.
Answer:
True
Explanation:
Generalization creates a set of common practice which is further considered as an identifiable acceptable standard for the instance.
As for example if we state that a person is good at cooking, on the basis on generalization it will be considered necessary and obvious that the person knows the skills of cooking basic food of that region.
Generalization thus, creates a kind of basic skills in every person of that domain. This will influence people to develop more skills.