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Mice21 [21]
4 years ago
12

The​ long-run elasticity of supply in most industries is​ ___________ than the​ short-run elasticity because in the long​ run, ​

________________.
a. less​ elastic; consumer demand will​ increase, increasing industry profits

b. more​ elastic; resources and firms can enter the industry

c. less​ elastic; resources and firms can enter the industry

d. more​ elastic; consumer demand will​ increase, increasing industry profits
Business
1 answer:
Naily [24]4 years ago
7 0

Answer:

The correct answer is option b.

Explanation:

The elasticity of supply for a good is generally higher in the long run as compared to the short run. This is because a firm is able to expand its production more in the long run.

In the long run, all the factors are variable, so production can be increased to a greater extent. In the short run, a firm can increase only the quantity of labor employed to increase production.

Also, firms cannot enter an industry in the short run but they can in the long run. This implies that the overall production in the industry can be increased more in the long run.

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Consumers look closely at service quality when comparing competing services because
Lesechka [4]
Services are very difficult to evaluate. <span />
3 0
4 years ago
Your home insurance provides for replacement value for personal property losses. A microwave is stolen. It cost $300 two years a
goldfiish [28.3K]

Answer:

$400

Explanation:

Since your insurance policy provides for replacement value, then if your microwave is stolen, the insurance company must pay the cost of a new and similar microwave oven. Insurance is not about gaining or losing money, it's about returning the insured to its previous financial state before the incident happened.

In this case the insurance company has to pay a higher amount, but sometimes the replacement value might be lower, e.g. high tech products are usually very expensive in their introduction stage but then their prices start to decrease at the growth or maturity stages.

7 0
4 years ago
A General Power bond carries a coupon rate of 8%, has 9 years until maturity, and sells at a yield to maturity of 7%. (Assume an
Mamont248 [21]

Answer:

bondholders will receive 8% of $1,000 = $80

Explanation:

The price of the bond varies depending on the yield to maturity, resulting in higher or lower gains for bondholders, but the actual cash amount received will always be equal to the coupon rate.

The same applies to the issuer of the bond, it may receive more or less money depending on the market rate, which increases or decreases interest expense, but the amount of money paid is always the coupon rate.

8 0
3 years ago
Settings in which development occurs, which are influenced by historical, economic, social, and cultural factors, are called ___
malfutka [58]

Settings in which development occurs, which are influenced by historical, economic, social, and cultural factors, are called <em>context.</em>

<h3>What is development?</h3>

This is the term that is used to refer to all of the processes that are able to create the growth of a person. It has to do with the growth and the progress as well as the effective changes that are known to happen in a particular society.

Hence we can conclude by saying that Settings in which development occurs, which are influenced by historical, economic, social, and cultural factors, are called context.

Read more on development here:

brainly.com/question/17019717

#SPJ1

6 0
2 years ago
Ben &amp; Jerry's mission to make the world a better place is linked to various organizational and marketing strategies, one of
iogann1982 [59]

Answer:

Caring dairy

Explanation:

Caring dairy strategy is based on the following principle.

They check if a cooperative guarantees the following:

1.  Supplies are hormone free

2. Bovine growth is hormone free

If they have a cooperative's guarantee then they buy milk and cream from that cooperative

In this way they are safe and can claim that their products are also hormone free

8 0
4 years ago
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