1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
OLEGan [10]
3 years ago
13

Joe's Juice Shop operates in a monopolistically competitive market. Joe's is currently producing where its average total cost is

minimized. In the long run we would expect Joe's output to A. remain unchanged as Joe's is doing the best it can. B. decrease and average total cost to decrease. C. increase and average total costs to decrease. D. decrease and average total cost to increase.

Business
2 answers:
mars1129 [50]3 years ago
7 0

Answer:

decrease and average total cost to increase

Explanation:

Based on the information provided within the question it can be said that in this scenario we would expect Joe's output to decrease and average total cost to increase. This is mainly due to the fact that Joe's Juice Shop is in a monopolistically competitive market meaning that one company controls and dominates the entire market which will ultimately put Joe's Juice Shop out of business.

ANTONII [103]3 years ago
7 0

Answer:

D) decrease and average total cost to increase.

Explanation:

A monopolistically competitive firm is not a monopoly, it operates in a market where there are many producers and consumers, but each producers supplies a differentiated product, e.g. restaurants.

The demand curve of a monopolistically competitive market is downward sloping. In the short run a firm can make economic profit by selling its goods at a higher price, but in the long run the demand curve will be tangent to the firm's average total cost. At this point the firm will no longer produce economic profit (not the same as accounting profit), similarly to what happens to firms that compete in perfectly competitive markets.

You might be interested in
If, as your taxable income decreases, you pay a smaller percentage of your taxable income in taxes, then the tax is
guajiro [1.7K]

If, as your taxable income decreases, you pay a smaller percentage of your taxable income in taxes, then the tax is  Progressive tax.

<h3>What is meant by progressive taxes?</h3>

The average tax burden rises with income under a progressive tax. Low- and middle-income taxpayers bear a disproportionately tiny amount of the tax burden, compared to high-income families. A tax system that raises rates as taxable income rises is known as a progressive tax. Taxes on investment income, interest income, rental income, estates, and tax credits are a few examples of progressive taxes.

Based on the amount of tax you must pay relative to your income, taxes can be classified as regressive, proportional, or progressive. As your income declines, regressive taxes force you to pay a bigger proportion of your individual income in taxes. Tax reductions enhance people' discretionary income while reducing the government's revenue. Tax reductions typically refer to decreases in the percentage of income, commodities, and services subject to tax. Tax reductions serve as an illustration of an expansionary fiscal strategy since they give consumers greater discretionary income.

So, If, as your taxable income decreases, you pay a smaller percentage of your taxable income in taxes, then the tax is Progressive tax.

Learn more about Progressive tax here

brainly.com/question/1022789

#SPJ4

5 0
1 year ago
Which type of portfolio might a young investor who is not afraid of risk choose?
Naddik [55]

The type of portfolio that the young investor who is not afraid of risk choose is the portfolio with a high percentage of stocks. Stocks are able to return higher compared to others and this makes it give a high risk because of its performance of providing losses or either profit. The answer is letter D.

7 0
3 years ago
Read 2 more answers
Mark and Parveen are the parents of three young children. Mark is a store manager in a local supermarket. His gross salary is $7
netineya [11]

Answer:

$367,500

Explanation:

Estimation of the family’s life insurance needs

Using the easy method

Based on the information given we were told that Mark gross salary is $75,000 while is wife

Parveen is a stay-at-home mom this means that we would be using the easy method to estimate the family’s life insurance needs based on Mark gross salary of $75,000 because he is the only one that earn on a monthly basis.

Insurance need =$75,000 x 7 years x 70%

Insurance need = $367,500

Therefore the family’s life insurance needs will be $367,500

5 0
3 years ago
What characteristic is somewhat shared by perfect competition and
kakasveta [241]

Answer:

Ease of entering

Explanation:

The main difference between perfect competition and monopolistic competition is that firms sell a similar product in perfect competition. In monopolistic competition, firms sell differentiated products.

In both market structures, their many seller and buyers. There is the ease of entry and exit for suppliers. In both markets, there are no dominant suppliers.

8 0
3 years ago
You need to know more than just facts in order to use critical thinking skills.
Leokris [45]

the answer to this is true

5 0
3 years ago
Other questions:
  • On July 1 of the current year, the assets and liabilities of Wong Industries, are as follows: Cash, $15,000; Accounts Receivable
    9·1 answer
  • Novak Corp. has 7400 shares of 6%, $50 par value, cumulative preferred stock and 148000 shares of $1 par value common stock outs
    6·1 answer
  • Cave Hardware's forecasted sales for April, May, June, and July are $150,000, $250,000, $100,000, and $290,000, respectively. Sa
    10·1 answer
  • suppose company has a 32% income tax rate, a contribution margin ratio of 45% and fixe costs of 664,000. what sales volume is ne
    13·1 answer
  • Ichor Co. reported equipment with an original cost of $379,000 and $344,000 and accumulated depreciation of $153,000 and $128,00
    11·1 answer
  • GDP is: Group of answer choices the sum of all currency and coins in circulation. the value of all final goods and services prod
    5·1 answer
  • When we grow in relationship with ______________, we grow in relationship with God.
    6·1 answer
  • If you have done everything correctly, you might realize that stagflation creates a dilemma for the Fed. Why? Choose one or more
    7·2 answers
  • Which of the following is true of the BCG matrix approach. A) It is inexpensive to implement. B) It does not consider relative m
    10·1 answer
  • Which of the following is true about avoiding discrimination?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!