Answer:
The correct answer is option B.
Explanation:
In a competitive industry there is no restriction on entry or exit of firms in the market. So, when in the short run the firms are enjoying super normal profits or positive economic profits, this would attract potential firms to join the industry in the long run.
As a result the industry supply will increase in the long run. The increase in supply would cause the price to fall. This would further contribute in reducing revenue and profit.
This process will continue till the profit is reduced to zero. If profit falls below zero, then firms incurring loss will exit the industry. Then again zero profits will be restored by reduction in supply and increase in price.
So, we can say that perfectly competitive firms will have zero economic profits or only normal profits in the long run.
Rather than being just a random activity, good marketing requires thoughtful planning in determining appropriate actions to produce sound decisions. The most essential rule that company should follow is that there should be detailed and well-thought m<span>arketing plan so that it will have stable ground for developing and success.
Hope that helps!</span>
Answer:
product XXX
Explanation:
yes two prodcuts are u gonna goooo
Answer
Retained earnings will be overstated by $38.40 million
Explanation:
The overstatement of retained earnings by this amount arises from the fact that if the depreciation of $64 million had been charged, the charge will have been tax deductible at 40% thus the amount overstated if (1-40%) x $64m =$38.4m.
Answer:
Task / established
Explanation:
Internal control was created for a couple of reasons:
1. to ensure that there is no corrupt practices occurring from within the organization.
2. To ensure that every single employees are held accountable to the tasks that given to them
3. A way for managers to monitor the productivity rate of the team.
'Tasks' are a set of duties that the employees need to fulfill during the operation, If one employees fail to fulfill any of their tasks, it could become a hindrance for another employees.
The word 'Established' Indicated that the task is strongly structured by the higher ups and the employees have no right to change it without the permission from the higher ups.