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Masteriza [31]
3 years ago
7

In the theory of perfect competition, the assumption of easy entry into and exit from the market implies Group of answer choices

positive economic profits in the long run. losses in the long-run equilibrium. zero economic profits in the long run. zero economic profits in both the short run and the long run. positive economic profits in both the short run and the long run.
Business
1 answer:
kow [346]3 years ago
8 0

Answer:

Zero economic profits in the long run.

Explanation:

In a perfect competition, firms are able to freely enter into, or exit a market.

As more and more firms enter the market, it causes an increase in supply in the long run, which<u> leads to a fall in prices and therefore profits, such that firms will start to earn normal profits or </u><u>zero economic profits.</u>

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Evaluate the impact that the 5 Total Quality Management (TQM) elements have on Woolworths, as a large company.​
ki77a [65]

The main impact that the 5 Total Quality Management have on Woolworths is that it helps quality assurance for customers.

<h3>What is the Total Quality Management?</h3>

This is a management system that is assert that all staff must be committed to maintaining high standards of work in every aspect of a company's operations.

The five concept of Total Quality Management includes:

  • Produce quality work the first time
  • Focus on the customer
  • Have a strategic approach to improvement
  • Improve continuously
  • Encourage mutual respect and teamwork.

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5 0
2 years ago
When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold, the tax has.
Dmitry_Shevchenko [17]

When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold, the tax has caused a deadweight loss.

<h3>What is meant by deadweight loss?</h3>
  • The gap between the production and consumption of any given good or service, including taxes, is referred to as deadweight loss in economics. Deadweight loss is most frequently detected when the quantity generated compared to the quantity consumed deviates from the ideal surplus concentration.
  • Overproduction of commodities results in a loss of money. For instance, a baker might only sell 80 of the 100 loaves of bread they produce. There will be a deadweight loss since the 20 remaining loaves will become moldy and dry, and they will need to be thrown away.
  • The loss in economic activity that results when the market pricing of products or services change negatively affects consumers and businesses is referred to as deadweight loss.
  • You need to know the change in price and the change in quantity demanded in order to compute deadweight loss. Deadweight Loss is calculated using the following formula:. 5 * (P2 - P1) * (Q1 - Q2).

When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold, the tax has caused a deadweight loss.

To learn more about deadweight loss, refer to:

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8 0
1 year ago
Which best compares and contrasts the teaching and training careers and the professional support careers?
ohaa [14]

The teaching and training careers and the professional support careers can be compared because option  A) Both careers try to support student success; however, teaching and training careers involve direct instruction of students.

<h3>What are teaching and training careers and the professional support careers ?</h3>

They are both careers that is needed for the students so they can come out with flying colors.

For instance, teaching involves passing across knowledge to students, and the teacher is expected to use different techniques so that the students can cope and be successful academically.

Therefore, option A is correct.

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7 0
1 year ago
When a company wants to design a new wireless headset it invited a group of interested users to comment on and try out various p
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Testing process...?

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3 years ago
as a young entrepreneur, how can you show the responsible ways of purchasing activities on any possible situations you may consi
Helen [10]

Answer:

There are several ways in which a young entrepreneur can carry out purchasing activities responsibly, including:

1. Measured production of inventory or units of products- If an entrepreneur is producing bicycles for instance, (s)he should only spend on inventory that (s)he anticipates will be sold to customers or purchased by retailers. For example, let's assume that the entrepreneur has a purchase order from a retailer such as K-Mart for 500 bicycles. In this case the entrepreneur should only produce around 550 bicycles rather than 700 or 1000 bikes, thus, purchasing supplies and producing inventory in accordance with demand for his/ her bicycles.

2. Lowering costs of production where possible- Firstly, this can be done by purchasing supplies and materials for inventory in bulk. Secondly, the entrepreneur could outsource the manufacturing of his/her product to countries (such as China) where production costs are significantly cheaper.

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3 years ago
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