Answer:
c. will earn zero economic profits but positive accounting profits
Explanation:
A competitive industry is characterised by many buyers and sellers of homogenous goods and services.
There are no barriers to entry and exit of firms. If firms in a competitive industry earn economic profit in the short run, firms enter into the industry in the long run and economic profit falls to zero.
A competitive firm earns accounting profit but doesn't earn economic profit.
Accounting profit = Revenue - Cost
Economic profit = Accounting profit - Opportunity cost
I hope my answer helps you.
globalization affect the hospitality directly by the people coming from different countries . either they get cheaper services or they change some stuff for people because different cultures
Answer:
- 50 people/ 60 min= 0.833 people per minute
- Register = 60min per hour/ 30 sec Per hour = 120 orders per hour.
- Making the food = 60 min/ 1.5 min = 40 orders x 2 employes = 80 orders per hour
- Paking the food = 60 min/ 1 min per food = 60 orders per hour
- Complete service= 30 sec + 1.5 min/2 + 1 min = 2.25 min = 26 orders per hour
- 24 people will stay in line
The most difficult to construct.
Answer:
The correct answer is D) "None of the above is correct."
Explanation:
Drug companies are allowed to be monopolists in the drugs they discover to encourage research and development
