Answer:
the difference between revenue and variable cost
Explanation:
As we know that
Producer surplus is = Total Revenue - Total Variable Cost
So here we can see that the producer surplus would be the difference between the revenue & the variable cost in the industry i.e. perfectly competitive
Hence, the second last option is correct
And, the other options are wrong
Answer:
b. exit barriers are high
Explanation:
Declining industries are those industries wherein the industry has saturated and experiences a negative growth. The characteristic of such industries being the products are lesser in demand.
For instance, cassettes and magnetic tapes industry was in demand until the arrival of more advanced forms such as compact discs and usbs, post which those industries turned into declining industries.
A declining industry with high barriers to exit would experience a greater competition since the barriers would encourage competition instead of withdrawal. And with higher costs of withdrawal, the firms continue producing at negative growth.
The foundation of the U.S. economic system is considered to be capitalism. Capitalism is an economy system in which capital goods are owned by private individuals or business. The production of goods and services is based on demand and supply in the general market rather than through central planning.
Answer:
A less,less
Explanation:
because option A requires 8 year of higher education and $80,000. but option B only requires four years of higher education and $40,000
