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3 years ago

The economy is in long-run equilibrium: Select one:

Business

1 answer:

Ket [755]3 years ago

3 0

Answer:

A, when the AD and AS curves intersect at potential output,Y.

Explanation:

Aggregate demand curve is a graphical representation that shows the relationship between total goods and services and its price levels.

Aggregate supply curve is a graphical representation that shows the relationship between the total amount of good and services firms are willing to sell and at what price the want to sell.

For an economy to be in long-run equilibrium, an economy has to have both curves meet at a point Y which is the potential output of the economy. This means simply that demand and supply has to be balanced (in equilibrium).

I hope this helps.

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If a competitive firm can increase its profits by increasing its output, then the firm's:

Basile [38]

If the firm can increase its profit by increasing its output then the firm is not producing at where the marginal cost is equal to the marginal revenue. A profit-maximizing firm in a competitive market will produce its output at the point in which MC=MR.

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3 years ago

Accrued revenues: Multiple Choice At the end of one accounting period result in cash receipts in a future period. At the end of

Ipatiy [6.2K]

Answer:

At the end of one accounting period result in cash receipts in a future period.

Explanation:

Accrued revenues is money owed by customers for goods bought or services purchased.

Accrued revenue is recorded as an asset on the balance sheet as receivables.

For example, if a customer buys a dress and is yet to pay for the dress. the amount the customer is supposed to pay is recorded as an accrued revenue at the end of the accounting period

Unearned revenue is money received by a company for services that are yet to be rendered.

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3 years ago

Over a five-year span, the Acme Company reduced the amount of labor it hired. At the same time, the marginal productivity of l

White raven [17]

Answer:

D) all of the above

Explanation:

Probably the single most labor reducing factor is new technology and how it is applied within a business. Automation is probably the single most important labor reducing factor in the US over the last 30 years. This is specially for factory workers, since automation is responsible for fewer industry jobs, not China.

New technologies increase marginal returns for labor and they also have changed organizations completely.

Computers, the internet, smartphones, Amazon, etc., have changed our world. Even the military has changed, a pilot can be located inside a US base and his airplane is flying a mission in the Middle East.

8 0

3 years ago

1. The Herfindahl index: Suppose that three firms make up the entire bicycle manufacturing industry. One has a 40% market share,

alukav5142 [94]

Answer:

3400, Rise, C

Explanation:

1. Since there are just 3 firms and two already has a sum total of 70% (40+30), the third firm will have a market share of 30%

HHI= $40^{2}+ 30^{2}+30^{2}\\$

HHI= 1600+900+900

HHI= 3400

2. Abe's Bikes with 30% leaves the market, if the two firms were to share Abe's market share equally (15+15), it will leave Firm A with 55% (40+15) and Firm B with (30+15) 45%

Therefore,

HHI= $55^{2}+45^{2}$

HHI=3025+2025

HHI= 5050

A rise in HHI

3. C

An index of 10,000 corresponds to a monopoly firm with 100% market share.

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3 years ago

Given the following data for Harder Company, compute cost of goods manufactured: Direct materials used $120,000 Beginning work i

il63 [147K]

Answer:

c. $480,000

Explanation:

Cost of goods manufactured $

Direct materials used 120,000

Direct labor 200,000

Manufacturing overhead 150,000

Beginning work in process 20,000

Ending work in process <u> 10,000 </u>

Cost of goods manufactured <u> 480,000 </u>

So, Correct option is c. $480,000

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3 years ago