Which of the following best defines self discipline:

Suppose that the rural part of a country is hit by a major earthquake

stiv31 [10]

Answer:

(a) How this episode is likely to affect the economic well-being of people in the country

In the short-run, there will be an increase in labor demanded, increasing jobs to build homes and repair the damage caused by the earthquake. In the long-run, things will begin to go back to normal.

(b) How this episode is likely to affect the economy’s measured GDP

In this case, GDP measurements will shift causing less of an input in private spending and an increase in government spending due to subsidies to increase home-building.

6 0

2 years ago

The basic model of pure competition reviewed in this chapter finds that in the long run all firms in a purely competitive indust

Helen [10]

If all firms only earn a normal profit in the long run, firms will develop new products or lower-cost production methods because they can innovate and possibly earn an economic profit in the short run.

Explanation:

Competition involves constant efforts by companies and executives to do more than the loss (normal gains) of new goods or by improving ways to manufacture current products at lower prices. Therefore, if businesses can invent, they will achieve short-term economic advantage.

Economic benefit encourages entry, economic losses lead to exit and firms in a highly profitable market earn little economic income in a long-term equilibrium. In an industry where inflation does not change the costs of materials (a market with a constant cost), the long-term supply curve is a horizontal line.

7 0

2 years ago

Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies sug

wlad13 [49]

Answer:

The present yearly net operating income or loss is - $90,000

Explanation:

The computation of present yearly net operating income or loss is shown below:

Net income / Net loss = Sales - Variable cost - Fixed cost

The sales - variable cost is equal to contribution

Than, Contribution - fixed cost = net income

where,

Sales = Present Sales volume × Selling price

= 15,000 × $70

= $1,050,000

Variable cost = Present volume × Variable cost per unit

= 15,000 × $40

= $600,000

And, fixed cost = $540,000

So, net income / loss = $1,050,000 - $600,000 - $540,000

= - $90,000

Hence, the amount shows negative which means the company has suffered a loss of $90,000

Thus, the present yearly net operating loss is - $90,000

8 0

2 years ago

It is the custom for paper mills located alongside the Layzee River to discharge waste products into the river. As a result, ope

Hoochie [10]

Answer:

D) The supply of the output from the hydroelectric power plants to increase

Explanation:

The externality here is a negative one where the hydroelectric plants has to bear the cost of pollution as the paper mills operates.

Correcting means to make the paper mills pay for the external costs of their production and compensate the power plant for the additional cost that incurred as they have to clean up the water.

As the cost of production reduces, the power plant will be more willing to supply electricity at similar prices, ie. their supply curve will shift to the right. It will intersect with the demand curve of the consumers at a point with higher quantity (and maybe lower price)

In other words, they will supply more electricity.

3 0

2 years ago

Which statement BEST describes costs typically associated with policies for auto, health, and property insurance?

Ahat [919]

The answer is: A) As deductibles decrease, policy costs tend to increase.

Deductibles refers to the amount of money that the insured had to pay before receiving benefit from the insurance company. If you sign a contract with lower deductibles, the amount of money usually would be allocated to the policy cost that you have to pay each months.

6 0

2 years ago

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