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Sever21 [200]
3 years ago
6

James lives near a university and observes that almost every student uses a cell phone. He decides to open a small shop offering

repair services for cell phones. His shop is an instant success. James has satisfied an area of need called___________.
Business
1 answer:
Dafna1 [17]3 years ago
3 0

Answer: The correct answer is "an opportunity niche".

Explanation: James lives near a university and observes that almost every student uses a cell phone. He decides to open a small shop offering repair services for cell phones. His shop is an instant success. James has satisfied an area of need called <u>an opportunity niche.</u>

The concept of a niche of opportunity refers to the existence of a group of people or companies that have certain needs, and who have the will to meet them and economic capacity to acquire the services or goods necessary for this,<u> in this case James les He offered the good or service to meet this need.</u>

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The total of the debit account balances that will be reported on the company's adjusted trial balance at December 31, Year 1 is B) $9,000

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Total Credit balance $9,000

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2 years ago
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The answer is marginal revenue (MR) curve above $22.

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Economic profits are not the same as accounting profits because they include the opportunity costs of investing the money somewhere else. That is whythe long run firm is not able to make economic profits since as they exist, new competitors will enter the market. But in the case of the shoert run, the firms are able to make economic profit, but by doing so, they cannot maximize their accounting profit.

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Opportunity cost are extra costs or benefitslost from choosing one activity or investment over another one.

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