1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sergejj [24]
2 years ago
14

In the long run, a representative firm in a monopolistically competitive industry will end up multiple choice having an elastici

ty of demand that will be less than it was in the short run. having a larger number of competitors than it will in the short run. earning a normal profit, but not an economic profit. producing a level of output at which marginal cost and price are equal.
Business
1 answer:
Evgen [1.6K]2 years ago
6 0
In the long run, a representative firm in a monopolistically competitive industry will end up <span>earning a normal profit, but not an economic profit.

Monopolistic competition is imperfect competition where many producers sell products that differentiate from each other in ways like quality and branding. Because they differ in these ways, there are no perfect substitute for another producers product. 

</span>
You might be interested in
Sheila went to college to study accounting, and got her first entry-level job right after graduating. however, as she gained mor
Len [333]
Sheila is in the state of realistic period where a person would likely be motivated and pursuing of the things that he or she wanted to do because of her or his personal goals or the idea that he or she has in mind. It could be seen above as she wants to pursue law because of the knowledge that she gains in the area.
8 0
3 years ago
What is the result of strong, effective, market-supporting formal institutions?
PSYCHO15rus [73]
<span>The result of a strong, effective, market supporting formal institution is a developed economy. A developed economy can be found in a developed and industrialized country. It will be a sovereign state that is highly developed in technology and infrastructure.</span>
6 0
3 years ago
Below is the trial balance for Sugar Almonds Ltd as at 31st December 2020
valentina_108 [34]

Answer:

Net income = $31,130

Total Assets = Owner's Equity and Liabilities = $104,230

Explanation:

The the Income Statement of Profit or Loss and the Statement of Financial Position can be prepared  as follows:

Sugar Almonds Ltd  

Income Statement of Profit or Loss  

For the Year Ended 31st December 2020  

<u>Particulars                                                        $                       $             </u>

Sales Revenue                                                                       93,700

Cost of sales:  

Opening inventory                                      12,000

Purchases                                                   49,000

Closing inventory - income statement   <u> (24,350)  </u>

Cost of sales                                                                       <u>  (36,650)  </u>

Gross profit                                                                             57,050

Operating expenses:  

Administrative Expenses                               (850)

Rent paid                                                     (2,000)

Telephone                                                      (900)

Wages                                                         (21,650)

Travel expenses                                        <u>     (330)  </u>

Total operating expenses                                                   (25,730)

Interest income (expense):

Interest paid                                                                        <u>      (190)   </u>

Net income                                                                        <u>     31,130   </u>

 

Sugar Almonds Ltd  

The Statement of Financial Position  

As at 31st December 2020  

<u> </u><u>Particulars                                                        $                        $             </u>

<u>Fixed Assets</u><u> </u>

Premises at cost                                         70,000  

Vehicles at cost                                        <u>    5,800 </u> 

Total Fixed Assets                                                                 75,800

<u>Current Assets</u>

Cash                                                                 630  

Bank                                                               2,100

Closing inventory - Statmt of fin positn    24,350  

Trade Receivables                                    <u>    1,350</u>  

Total Current Assets                                                           <u>   28,430  </u>

Total Assets                                                                        <u>   104,230 </u>

<u>Owner's Equity</u>

Capital                                                       72,000  

Drawings                                                   (6,450)

Net income                                           <u>      31,130  </u>

Total Owner's Equity                                                             96,680

<u>Current Liabilities</u>  

Trade Payables                                          6,400  

VAT                                                         <u>     1,150  </u>

Total Current Liabilities                                                      <u>    7,550  </u>

Owner's Equity and Liabilities                                         <u>  104,230 </u>

6 0
2 years ago
1. Friedman distinguishes between the two concepts that (a) businesses really do act in ways to maximize profit and (b) business
S_A_V [24]

Explanation:

Friedman defends the position that companies have a social responsibility to act to maximize profit, in the sense that, the primary function of companies is to generate profit. The author goes against the growing opinions in society that companies must have social responsibility, that is, they need to create a positive and sensitive corporate image to please political and society interests and counter or even soften the words and actions its central purpose, which is profit generation. For him, social responsibility cannot be politicized in order to be an obligation of companies, as it limits freedom and interests arising from the business.

4 0
3 years ago
Which of these channel members is last in the distribution channel?
timofeeve [1]

Answer:

C

Explanation:

They are the ones to use to products.

8 0
2 years ago
Read 2 more answers
Other questions:
  • Peninsula Company reported net income of $290,000 for the year. During the year, accounts receivable increased by $21,000, accou
    15·1 answer
  • Mrs. Martin tells some neighborhood kids that she will pay $100 if any of them mows her lawn. Jake goes to a hardware store, pur
    11·1 answer
  • Thermal Rising, Inc., makes paragliders for sale through specialty sporting goods stores. The company has a standard paraglider
    6·1 answer
  • Anne’s marginal income tax rate is 32 percent. She purchases a corporate bond for $19,500 and the maturity, or face value, of th
    10·1 answer
  • Household consumers are the most conspicuous audience in that most mass media advertising is directed at them. T/F
    6·1 answer
  • Moss exchanges a warehouse for a building he will use as an office building. The adjusted basis of the warehouse is $ 600,000 an
    15·1 answer
  • A manufacturer of disposable foam products entered into a written contract with a take-out restaurant to sell them 5,000 disposa
    12·1 answer
  • While a business plan is a detailed document with many sections, its overall purpose is to describe the nature of the business,
    14·1 answer
  • A customer who is long 1 oex may 315 call exercises the contract on this day. the customer will receive:________
    13·1 answer
  • under which inventory cost flow assumption does inventory on the balance sheet best approximate its current cost?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!