Answer:
D some firms leave the industry and the existing firms slowly adjust their production to reach their minimum efficient scale.
Explanation:
In a perfectly competitive industry at starting there is a short-run equilibrium in which all the firm is earning zero economic profit but these firm operated below the minimum efficient scale or we can say minimum requirement i.e lowering the average cost for the long run
By going through the options the option is correct as few firms leave the industry and other existing firms try to adjust the production in a slowly way so that they could reach their minimum efficient scale
Hence, the option d is correct
Answer:
The correct answer is B
Explanation:
Giving the following information:
A) Direct materials used + direct labor + manufacturing overhead – ending WIP – beginning WIP.
(B) Beginning WIP + direct materials used + direct labor + manufacturing overhead – ending WIP.
(C) Direct materials used + direct labor + manufacturing overhead – beginning WIP + ending WIP.
(D) Beginning WIP + direct materials used + direct labor + manufacturing overhead + ending WIP.
Cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
Answer:
Martin works as a pizza delivery person. He parks his bike outside Regalia Inc. To deliver an order. Meanwhile, a damaged book rack in Regalia, which is situated on the first floor of the building, falls down through an open window and crashes on his bike. However, no one admits to having seen the rack fall. Can Martin recover against Regalia for negligence?
It is a dicey situation, if Regalia Inc has a parking lots and Martin did not use it rather he just parked at his convenience, then no one will be responsible for such but if he parked at allotted space for bikes and such occurrence happened then Regalia inc will bear the cost and pay for damages.
Explanation:
Answer: Option D
Explanation: In simple words, short run refers to the time frame in which all the factors of production are fixed while in the long run all of them are variable.
This happens due to the fact that in the short run if the company goes for changing the level of inputs than the opportunity that were availing in that time period will be gone by then leading to losses as the total time frame is very less in short run.
On the other hand, firms tends to have greater life in the market and keeps developing themselves with the changing forces of market.
