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Fofino [41]
3 years ago
12

Jim and Lisa own a dog-grooming business in Champlain, New York, called JL Groomers. There are many buyers and many sellers in t

he dog-grooming service market. JL Groomers experiences normal cost curves, with the marginal cost (MC) curve crossing average variable cost (AVC) at $14 and average total cost (ATC) at $22. JL Groomers’ long-run supply curve would be the:
a. marginal revenue (MR) curve above $14.

b. marginal revenue (MR) curve above $22.

c. marginal cost (MC) curve above $14.

d. marginal cost (MC) curve above $22.

e. average variable cost (AVC) curve above $14.
Business
1 answer:
Elza [17]3 years ago
3 0

The answer is marginal revenue (MR) curve above $22.

Explanation:

Jim and Lisa Groomers will maximize its accounting profit when taking it to 0 its economic profits when marginal revenue = marginal costs.

Economic profits are not the same as accounting profits because they include the opportunity costs of investing the money somewhere else. That is whythe long run firm is not able to make economic profits since as they exist, new competitors will enter the market. But in the case of the shoert run, the firms are able to make economic profit, but by doing so, they cannot maximize their accounting profit.

Economic profit = account profit = Opportunity profit

Opportunity cost are extra costs or benefitslost from choosing one activity or investment over another one.

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There are not enough goods and services to meet the wants of the population
brilliants [131]

Answer:

Explanation:

The fact that limited amounts of goods and services are available to meet unlimited wants is called scarcity. ... Scarcity always exists. There simply are not enough goods and services to supply all of society's needs and wants.

5 0
2 years ago
(a) (i) Define the term "Green Revolution" as used during the period 1945 to 1985. (ii) Explain the principal agricultural pract
Nimfa-mama [501]

Answer:

(a) (i) Define the term "Green Revolution" as used during the period 1945 to 1985.

  • The use of modern agricultural techniques became widespread around many regions in the world. This led to higher yields through the use of fertilizers, pesticides, genetically modified seeds and mechanical machinery.  

(ii) Explain the principal agricultural practices/technologies associated with the green revolution.

  • extensive use of fertilizers, pesticides, genetically modified seeds and mechanical machinery.  

(iii) Name TWO regions, in different parts of the world, where the green revolution has had a significant impact on crop yields.

  • In North America, Mexican food production increased and they stopped importing food. Although currently that has reversed, and it is importing even more food than before.
  • In Brazil, agricultural production increased dramatically. Both total farmed area and yields have continued to increase in the past years becoming a threat to the amazon basin.

(b) Identify and discuss TWO social, political, or cultural conditions necessary for the success of the agricultural practices/technologies of the green revolution.

  • Emigration from rural areas to urban areas which resulted in a rapid expansion of urban centers. Since less labor was needed in farms, many people left rural areas due to lack of jobs.
  • People started accepting genetically modified crops, which were not well accepted at first. A lot of money was invested in research and development of new seeds, fertilizers and pesticides.

(c) Identify and discuss TWO significant economic or ecological factors that may limit the long-term success of the agricultural practices/technologies of the green revolution.

  • Many new agricultural techniques have resulted in a decrease of soil fertility. In many places crops cannot grow unless a lot of fertilizer is used.
  • Countries were the green revolution was originally successful, like Mexico (where it started), have reduced the total area dedicated to crops. As the yields increased, the price of food started to decrease and many small farms could not keep operating.  
4 0
3 years ago
Type the correct answer in the box. Spell all words correctly.
ra1l [238]

Answer:

The answer is Monopoly

Explanation:

Monopoly describes the situation which supply of a service or commodity is controlled by a specific enterprise or person. The situation gives rise to what is known as a mopolisitic market structure.

A monopolistic market, like the term implies, describes a market that is dominated by just one company. In other words, it is just a single company that offers services and products to the public.

Being the only supplier, the company can raise prices, restrict output and enjoy super-normal profits.

4 0
3 years ago
The financial statements include an introduction known as the management discussion and analysis. This preface must contain info
Elis [28]

Answer: Analysis of company's performance by the management.

Explanation: In the management discussion and analysis, the upper management of the company analyze and comment on the qualitative and quantitative characteristic of a company. This is seen as a secondary information in the company's yearly financial statement.

The MD and A, is considered valuable by investors as sometimes the management also comments about the upcoming projects of the company in such statements.

3 0
3 years ago
Marcel supervises a group of paralegals serving the firm's lawyers. He gets along well with his employees, and he has created de
svet-max [94.6K]

Answer:

Task-oriented

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Task-oriented leaders focus on getting necessary tasks done to accomplish  set objectives. These leaders are concerned with finding step-by-step solutions needed to meet set goals. The leaders will often define the roles required, put structures in place, organise necessary resources, and monitor progress towards accomplishing tasks within the team.

8 0
3 years ago
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