Competitive price taker firms always earn zero economic profit in long-run equilibrium because of the following reasons which include easy entry & exit, small player etc.
Perfect competition exists when there are many sellers, firms can easily enter and exit, products are identical from one seller to the next, and sellers are price takers.
A perfectly competitive firm must accept the equilibrium price at which it sells goods because it is a price taker.
A perfectly competitive firm will be unable to make any sales if it charges even a small amount more than the market price.
Furthermore, a perfectly competitive firm must be a very small player in the overall market, allowing it to increase or decrease output without affecting the overall quantity supplied and price in the market.
Hence, Competitive price taker firms always earn zero economic profit in long-run equilibrium.
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We are less able to accurately estimate the amount we will need tends to happen to the accuracy of our savings goals as our investment horizon becomes longer.
Secured Goals is part of an account that is structured to save only your money and save that as well, all the difference is this is a great dividend saving account to protect against accidental spending. When you open a protected savings fund, a savings goal is automatically created or credit installments are created only at the end of each month.
Setting goals helps investment horizon you break down the saving process to make it easier and more convenient. Setting goals saves time.
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A competitive market refers to a market where there is no monopoly of producers of goods and services, therefore, competition is high because they all have mission to satisfy the wants of a large consumers.
The characteristics of a competitive market are:
- Homogeneity of product: The product are made by different producers and encourages competition.
- There are existence of many buyers and sellers in the market.
- There is an access to derive perfect information on price of a product at any outlet in the market.
- There are no charges for transaction costs in a competitive market
- No barriers to entry into or exit.
In conclusion, there is no producers which can affect the market price through its supplying rate because there are excess supply of similar product in the market.
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Answer:
B = 0.287 Tesla
According to thumb rule the direction of magnet is to the east.
Explanation:
F = BiL sin∅
note that F = mg
B = magnetic field
i = current
therefore,
mg = BiLsin∅
Make B subject of the formula
B = mg/iLsin∅
m/L = mass per length of the wire and it is given in gram per centimeter . It should be converted to kg per meter.
m/L = 0.440 g/cm
convert to kg/m = 0.440 × 0.001 kg × 100 m = 0.044 kg/m
B = 9.8 × 0.044 / sin 90 × 1.50 × 1
B = 0.4312/ 1.50
B = 0.28746666666
B = 0.287 Tesla
According to thumb rule the direction of magnet is to the east.
Answer:
The situation is called insolvency. bank is unable to pay to depositor.
Explanation:
The situation is called insolvency. insolvency is refer to the situation when debtor is unable return its debt. The same is happened in the given situation. In the above case due to not paid by manufacturing unit, bank is unable to pay to depositor.
Insolvency is refer to that critical condition when debtor unable to pay amount to depositor. In the above given case even if bank want to sell its all assets it cannot cover its liabilities.
