In the long run, perfectly competitive firms will react to profits by increasing production.
Firms in a perfectly competitive world earn zero profit in the long run. While firms can earn accounting profits in the long run, they cannot earn economic profits.
In the long run, perfectly competitive firms will react to profits by decreasing production. CORRECT: In the long run, perfectly competitive firms will respond to losses by exiting the market. In the long run, perfectly competitive firms will respond to losses by reducing production.
A perfectly competitive market achieves long‐run equilibrium when all firms are earning zero economic profits and when the number of firms in the market is not changing.
In the long run, profits and losses are eliminated because an infinite number of firms are producing infinitely divisible, homogeneous products. Firms experience no barriers to entry and all consumers have perfect information.
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Answer:
The correct answer is letter "B": The details, extra challenges, and character commitment found in the book Ready Player One make it far more enjoyable than the movie.
Explanation:
Thesis statements summarize in one sentence the main idea of a research study or an essay. The sentence is a direct answer to a question. It must be concise, direct and easy to read so anybody can understand what the content of the following pages could explain.
Out of the options given, the letter "B" is the best since it exposes clearly why the author of the essay believes the Ready Player One book is better than the movie.
The budget for the department, assuming that it uses flexible budgeting is: $89,000.
<h3>Total Department Costs</h3>
First step is to calculate the direct labor cost
Direct Labor =2350 hours x( $72,000/2400)
Direct Labor=$70500
Second step is to calculate the Total Department Costs
Total Department Costs=$70,500+$18,500
Total Department Costs=$89,000
Therefore the budget for the department, assuming that it uses flexible budgeting is: $89,000.
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