Answer:
There will zero economic profits in the long run.
Explanation:
Monopolistic competition is a market structure where there is a large number of firms producing differentiated products. There is very low or no restriction on the entry and exit of firms in the market.
The market for plumbing services in a city is a monopolistic competition. An increase in the market demand will cause the price to increase. This will cause an increase in the profits of the existing firms.
In the long run, new firms will enter the market, increasing the market supply. This will cause the price level to decrease till all the firms are having zero economic profits.
Answer:
The argument is confusing an average for the individuals who make up that average.
Explanation:
The argument assumes that the height of all members of the team is above 6 ft. this is flawed because it assumes that the average height is equal to the height of the members of the team
for example, there are two members in the team
assume that the height of each member is 6 ft 3 inches. the average height is 6 ft 3 inches
Assume that the height of one member is 10.6 in and jerry's height is 2.0. the average height is 6 ft 3 inches. Here Jerry's height is less than 6ft
Answer:
None of the choice is correct; The correct answer is $459,000
Explanation:
The company is just breaking even at current volume of 51,000 books sold per year, then its revenue = total cost
↔ unit sold * selling price = fixed cost + unit sold * variable cost
↔ 51,000 * $22 = fixed cost + 51,000 * $13
↔ Fixed cost = $1,122,000 - $663,000
↔ Fixed cost = $459,000
Answer:
c. rise, interest rates to rise, and the dollar to appreciate
Explanation:
Answer:
$39600
Explanation:
One year is made up of 12 months.
in oder for us to know how many months make up 3 years,we multiply 12 months by 3years and the answer is 36 months.
36months = 3years
we workout
$1,100×36 months =$39,600
This shows that, by three years David would have paid his ex-wife $39,600
