Answer:
a. increase price in the short run but not in the long run.
Explanation:
A perfectly competitive market is one in which firms in an economy produce similar goods, and use resources that are limited in quantity.
An increase in demand will result in a corresponding increase in price, and results in firms making high profits. In the diagram below it results in a shift of demand from D1 to D2.
In the long run as firms have low barrier to entry more firms enter the market and supply shifts from S1 to S2. There is reduction in prices and profits start to fall. This is illustrated in the second diagram.
Answer:
C. A situation where no economic agent would benefit by changing his or her behavior
Explanation:
An economic equilibrium is when the agents are optimizing their decisions and opposing market forces are equal. This point allows the economic agents to maximize their utility and any change from this point will cause all agents to move away from potential maximum benefits.
In a natural equilibrium there is usually no government intervention so option A is false. Option B gives only one agent potential benefits and as such there is no equilibrium. Option D is conditional and may or may not happen as when the agents find missing information they would optimize again and move to an equilibrium.
Hope that helps.
Employees pay income taxes depending on the rates of the chartering state, therefore a firm may opt to charter in a state with lower income taxes if it has a physical headquarters in one state but files for incorporation in another.
<h3>What is tax?</h3>
A tax is a mandatory financial charge or other types of levy imposed by a governmental organization on a taxpayer (an individual or legal entity) in order to fund government spending and various public expenditures (regional, local, or national), and tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers pay the correct amount of tax at the correct time and receive the correct tax allowances and tax reliefs. Most nations have a tax system in place to pay for public, shared social, or agreed-upon national necessities, as well as government services.
To learn more about tax, click
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Answer:
Social companionship
Explanation:
Social companionship is a type of friendship or relationship between individuals who share similar likes and benefit from each other as they feel a sense of closeness doing things they like together. Donovan and Keith, who share some similarities and likes between each other, provide social companionship to each other as they hang out together as fans of a club.
Answer:
because it is always good to have money and understand and then save it and spend it wisely
Explanation:
