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lana [24]
3 years ago
13

One difference between the short run and the long run is that perfectly competitive​ firms: A. always earn more economic profit

in the long run. B. always earn positive economic profit in the short​ run, but never in the long run. C. can earn​ positive, negative, or zero economic profit in the short​ run, but will earn zero economic profit in the long run. D. earn zero economic profit in the short​ run, but will earn positive economic profit in the long run.
Business
1 answer:
AveGali [126]3 years ago
5 0

Answer: The correct answer is "C. can earn​ positive, negative, or zero economic profit in the short​ run, but will earn zero economic profit in the long run".

Explanation:  

In perfect competition we have a dynamic economy with technology and changing consumer tastes, we will always have some competitive industries with economic benefit and others with economic losses, as adjustments are made.

The economic benefits are forced to zero because companies enter without barriers to entry into the industry.

Losses are eliminated due to companies that leave the industry to obtain at least a normal profit elsewhere and  Resources are reallocated, from industries that have losses, to industries that have economic benefits.

Therefore, in the short term it is possible for companies to obtain extraordinary benefits, while in the long term the entry and exit of companies eliminates these exceptional benefits.

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3 years ago
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____________________An asset that lacks this attribute may take a long time to sell or be collected (so that it can be converted
g100num [7]

Answer:

Liquidity

Explanation:

Liquidity is the degree to which an asset can be converted to cash.  Assets that can easily be converted are described as liquid assets and include stocks and bonds.

Illiquid assets are not easy to sell. These assets may take a long time to sell or may be sold at a much cheaper price than the purchase price in order to make a quick sale. These include real estate, motor vehicles etc.

4 0
3 years ago
On December 31, 2019, Irey Co. has $3,000,000 of short-term notes payable due on February 14, 2020. On February 8, 2020, Irey bo
svet-max [94.6K]

Answer:

$1,800,000

Explanation:

Given short term notes payable = $3,000,000

Total amount used to liquidate short term notes = $2,200,000

Balance = $3,000,000 - $2,200,000 = $800,000

The additional $1,200,000 which is borrowed from Country Bank will not increase the short term notes payable because it's a long term credit

The additional $1,000,000 cash used will now be added to the balance amount

Amount to be reported as current liabilities = $1,000,000 + $800,000

= $1,800,000

Therefore the amount of the short-term notes payable that should be reported as current liabilities on the December 31, 2019 balance sheet which is issued on March 5, 2020 is $1,800,000

3 0
3 years ago
The total combines customer lifetime values of all of the company’s customers is called - Options
swat32
I'm am pretty sure the answer is b.
8 0
3 years ago
Peter Parker, the HR vice-president of a well-known IT firm, called his team members for a meeting to discuss the measures to be
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In this example, the reached consensus is an example of groupthink, since the team members did not critically evaluate the troublesome issue.

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3 years ago
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