Answer:
The descriptions that best characterize the young Dr. Jekyll include the following:
1. -He was famous.
2. -He was rich.
3. -He was in excellent shape.
Explanation:
He was an eccentric Dr who was researching on the possibility of discovering a drug that will help mankind. During his research, he noticed that, when ever he take a particular drug, it alters his personality and body which would bring out the darkest thoughts in him.
<em>The more he took the drug, the more him slips into darkness and destruction which always makes him sober after transforming back to his normal personality.</em>
The assumption in perfect competition that there is an easy entry and exit from the market implies that firms will make a zero economic profit in the long run.
<h3>Why do firms make a zero economic profit?</h3>
In a pure competition, companies are allowed to freely enter and leave.
They take advantage of this to enter a market when prices are high and economic profit is being made.
As more firms enter, the economic profit keeps decreasing as prices decrease until this profit gets to zero and then turns to economic losses.
At this point, some firms will leave the market to stop making losses. When they do, the supply will decrease which leads to prices rising once more.
The cycle will then repeat itself and keep the companies at a zero economic profit in the long run.
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The correct answer is C. remains constant
If production costs for both are equal, then it is completely the same what the demand is great for, since the cost will always be the same for them. If people want 3 cars and 2 trucks, it will be the same as if they wanted 4 trucks and 1 car.
Answer:
(a) Option (c) is correct.
(b) Option (b) is correct.
Explanation:
(a) If there is an unexpected decrease in the oil prices (Positive supply shock) then as a result this will reduce the cost of production of the firms and hence, there is an increase in the supply of the goods. This will shift the aggregate supply curve rightwards.
(b) If all the producers are required to contribute more towards the heath insurance coverage (negative supply shock) then as a result this will increase the cost of production of the producers. So, this will lead to decrease the supply of the goods and also, shift the supply curve leftwards.
Answer:
Basic EPS = $6.6
Diluted EPS = $5.06
Explanation:
The computation of basic and diluted EPS is shown below:-
Basic EPS = Net income ÷ Weighted average shares outstanding
= $660,000 ÷ 100,000
= $6.6
Interest on convertible bonds = 1,000,000 × 8%
= 80,000
Diluted EPS = (Net income + Interest on convertible bonds × (1 - Tax%)) ÷ (Weighted average shares outstanding + Shares from Convertible bonds)
= ($660,000 + 80,000 × 60%) ÷ (100,000 + 40,000)
= ($660,000 + 48,000) ÷ (140,000)
= $708,000 ÷ 140,000
= $5.06
