If in the short run, firms in monopolistic competition make an economic profit, new firms will enter the market.
A firm is a for-profit business organization—such as a company, limited liability company (LLC), or partnership—that provides skilled services. Most companies have only 1 location.
Companies during a monopolistic competition build economic profits within the short run, however within the long-standing time, they create zero economic profit. The latter is additionally a result of the liberty of entry and exit within the trade. Restaurants, hair salons, home items, and clothing are examples of industries with monopolistic competition.
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In business, people often make choices. Opportunity Cost is the value of what must be foregone in order to undertake an activity.
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What is opportunity cost?</h3>
- The economists often refer to this type of cost as the amount or the value of the next highly rated alternative use of one's money or resource.
An example is when a person spend their time and money going to a shop, one cannot spend that time at cooking, and you even did not spend the money on other things.
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Answer:
false money and time are worth different amounts. our time on earth is more valuable then money itself.
Answer: I will vote in favor of the bill.
Explanation:
Based on the above scenario, I would vote in favor of the bill. The argument here is in the case of bankruptcy, if an individual is willing to pay their dues but because of unavoidable financial circumstances, the individual seeks more time or other assistance which can help so that the person will later pay. I believe it's a good idea which should be supported by the law.
The court should have the right to decide terms of mortgages to help debtors in order for them to pay their debts in future rather than forcing them to leave the house. It will also help the country deal with issue of facilitating housing to maximum number of individuals.
In my opinion, the judge's decision should be given prime importance as the judge must evaluate the intention of the debtor and the capability of the debtor to pay the debts
Answer:
$ 2 per unit on average
Explanation:
Calculation for what the financial advantage (disadvantage) of purchasing the parts from the outside supplier would be:
First step is to calculate the Relevant cost of making
Relevant cost of making = 9 + 7 + 1 + ( 5 * 80 % ) Relevant cost of making= $ 21
Now let calculate the Financial advantage of buying
Financial advantage of buying = ( 21 - 19 )
Financial advantage of buying= $ 2 per unit on average
Therefore the financial advantage (disadvantage) of purchasing the parts from the outside supplier would be:$ 2 per unit on average
