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3 years ago

Which of the following is NOT a characteristic of long-run equilibrium for a perfectly competitive firm? Select one:

1 answer:

3 0

Answer: "b. Price is greater than long-run average cost." is NOT characteristic of long-run equilibrium for a perfectly competitive firm.

Explanation: In the long term the company will produce the output level at which long-run average cost is at its minimum.

Where the price is equal to the long-run marginal cost and the long-run average cost.

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A college of business building that has classrooms on the first floor, faculty offices on the second floor, and graduate assista

AVprozaik [17]

Answer:

Functional 

Explanation:

Function. a relationship in which for every input there exactly one output.

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2 years ago

If the seller has reason to believe that nonconforming goods will be acceptable to the buyer, this could constitute as an except

Blababa [14]

Answer:

Perfect Tender Rule

A. True

Explanation:

The Uniform Commercial Code's Article 2 recognizes the legal right of a buyer of goods to demand precise conformity of the goods to the product description in quality, quantity, and delivery manner. Therefore, the buyer may reject goods offered by the seller which do not conform to the earlier product descriptions. This rule is called the Perfect Tender Rule. An exception to this rule will be if the seller has a reason to believe that non-conforming goods will be acceptable to the buyer.

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3 years ago

Assume that the marginal cost (MC) of production is increasingincreasing. Can you determine whether the average variable cost

ki77a [65]

Answer:

YES - When marginal cost (MC) of production is increasing, the average variable cost (AVC) is increasing.

Explanation:

Marginal cost (MC) is the cost of producing an extra unit of output while Average variable cost (AVC) is the cost per unit of output produced.

When MC is below AVC, MC pulls the average down. This means that when MC is falling, AVC is falling

When MC is above AVC, MC is pushing the average up; therefore when MC is rising, AVC is rising.

The conclusion is that MC and AVC have a direct relationship and a rise in one will cause a rise in the other , therefore when the marginal cost (MC) of production is increasing, the average variable cost (AVC) is increasing.

3 0

3 years ago

Kimberly is excited about a high-end vacuum cleaner she purchased. She can't wait to show her husband how well the vacuum cleane

lesantik [10]

Answer:

C) affective involvement

Explanation:

Affective or emotional involvement takes place when customers build emotional connections and have deep feelings about a certain product or service.

Kimberly's excitement about her new vacuum cleaner can be better understood as a consequence of her feelings toward her family than what the vacuum cleaner really does. She is excited because she feels she has done something good for her family.

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3 years ago

Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. Pat quit that job and started working as a p

Ivan

Answer:

$34,000

Explanation:

Accounting profit = Total revenue - Explicit costs

i.e Total revenue = $50,000

Explicit costs = $12,000 + $1,000 + $3,000 = $16,000

Therefore; $50,000 - $16,000 = $34,000.

6 0

3 years ago