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lawyer [7]
3 years ago
7

In a perfectly competitive market, the process of entry and exit will end when (i) accounting profits are zero. (ii) economic pr

ofits are zero. (iii) price equals minimum marginal cost. (iv) price equals minimum average total cost.
Business
1 answer:
coldgirl [10]3 years ago
4 0

Answer:

 (ii) economic profits are zero

Explanation:

A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.

In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.

I hope my answer helps you

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In order to save $57,000 in five years, John will start saving money next month. He already has $10,000 in his account. The acco
Jlenok [28]

Answer:

He has to deposit $750.46 every month into the account

Explanation:

Future value id the accumulated amount of principal and compounded interest at the end of a specific investment period.

Assuming interest is compounding every month, use following formula to calculate the amount of payment each month.

FV = PV x ( 1 + r )^n + A x ( ( 1 + r )^n - 1 ) / r

$57,000 = $10,000 x (1+0.1%)^5x12 + A x ( ( 1+0.1% )^5x12 -1 ) / 0.1%

A = { $57,000 - [ $10,000 x ( 1 + 0.001 )^60 ] } / [ ( ( 1 + 0.001 )^60 )-1 / 0.001 ]

A = ( $57,000 - $10,618.05 ) / 61.80471

A = $46,381.95 / 61.80471

A = $750.46

3 0
3 years ago
E7-16 (Transfer of Receivables with Recourse) Beyoncé Corporation factors $175,000 of accounts receivable
alukav5142 [94]

Answer:

a. Transfer or receivables with recourse should be recorded as a sale only when the following conditions are met:

  • The future economic benefits of the receivables have been surrendered by the transferor.
  • The transferor's obligation under the recourse provision can be reasonably estimated.
  • The transfer can require the transfer to repurchase the receivables.

b. attached as a dcoument of excel.

Explanation:

Entry journal corporation for beyonce Corporation in document attached.

Download xlsx
5 0
3 years ago
Handcrafts & Hobbies Store agrees to hire Iliana for one year at a salary of $600 per week. When Handcrafts & Hobbies ca
natta225 [31]

Answer:

The difference between the wages at the two jobs plus 150.00.

Explanation:

There was a contract of one year and as per Severance pay h and H has to pay this amount.

5 0
3 years ago
Granite Company purchased a machine costing $128,000, terms 3/10, n/30. The machine was shipped FOB shipping point and freight c
Alborosie

Answer:

machine enter the accounting at <em> 138,210 dollars</em>

Explanation:

cost: 128,000 x ( 1 - 3%) = 124,610

shipping cost:                      2,800

installation cost:              <u>   10,800   </u>

total incurred cost

to leave the machine

ready for use:             <em>    138,210</em>

<em />

<em>The damge are expenses for the period as they arent a necessary cost to utilize the machine.</em>

<em>The company used the discount price over the list price as this is the atual cost incurred</em>

8 0
3 years ago
Symbic Foods, a chain of fast food restaurants, has included a drop-down menu on its main Web site. With this drop-down menu, pe
zvonat [6]

Answer:

localization of a Web site.

Explanation:

When a web site of a company is localised, it provides information. To users that is relevant to their locality. The access to local information about the business helps to drive sales at local stores of the business

In this instance localisation of the website is done by including a drop-down menu on its main Web site. With this drop-down menu, people can view their country-specific Web site, which contains information about the dishes that Symbic Foods serves in that country.

5 0
3 years ago
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