If in the short run, firms in monopolistic competition make an economic profit, new firms will enter the market.
A firm is a for-profit business organization—such as a company, limited liability company (LLC), or partnership—that provides skilled services. Most companies have only 1 location.
Companies during a monopolistic competition build economic profits within the short run, however within the long-standing time, they create zero economic profit. The latter is additionally a result of the liberty of entry and exit within the trade. Restaurants, hair salons, home items, and clothing are examples of industries with monopolistic competition.
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Answer:
The Estimated variable cost per machine hour for utilities is $2.50
Explanation:
High low method segregates the variable cost and fixed from the total cost using highest activity data and lowest activity data.
According to given data
Month Machine hours Utility cost
January 900 $5,450
February 1,800 $6,900
March 2,400 $8,100
April 600 $3,600
Using formula of High Low method
Variable cost = ( Cost of Highest activity - Cost of lowest activity ) / ( Highest activity - Lowest activity )
Variable cost = ( $8,100 - $3,600 ) / ( 2,400 - 600 )
Variable cost = $4,500 / 1800
Variable cost = $2.5
Fixed Cost = $8,100 - ( 2,400 x 2.5 ) = $8,100 - $6,000 = $2,100
Answer: B. Pell: No; Astor: Yes.
Explanation: According to Termination of agency law:
-An agent is entitled to renounce his power by refusing to act or by notifying the principal that he will not act for the principal.
The agent can terminate the agency first in absence of contractual agreement relating to the provision of duration of contract.
Answer:
option (A) -$500; decreases by $500
Explanation:
Data provided in the question:
Amount deposited = $1,000
Increase in credit card balance = $1,500
Now,
Deposit adds to assets whereas increase in credit card balances adds to liabilities
Therefore,
Savings = Deposits - Increase in credit card balances
= $1,000 - $1,500
= - $500
Here,
negative sign depicts the decrease in wealth
Hence,
The correct answer is option (A) -$500; decreases by $500
Answer:
The completely correct sentence is:
Todd is unsure of whether he should accept the position or go in to business himself.
Explanation:
The adjective unsure goes with the preposition, 'of' to indicate what the subject is not certain of. Option 1 with 'except' is completely wrong. It is not the correct verb form of the word. Some people, however, omit the preposition, 'of,' but this is not completely correct.
