Revenue = $752,800
Cost of goods sold = $301,800
To solve for the gross profit:
Gross profit = revenue - cost of goods sold
Gross profit = $752,800 - $301,800
Gross profit = $451,000
The gross profit shows the profits a company has after taking their costs to make the product and subtract them from the sales they had.
Answer:
A) making zero economic profit
Explanation:
A perfectly competitive industry is where there are many firms producing homogenous goods and services. There are no barriers to entry or exit of firms. Prices are set by market forces. Buyers and sellers are price takers.
In the short run, if firms in a perfectly competitive market are earning economic profits, in the long run, new firms enter into the industry and economic profit falls to zero.
In the short run, if firms in a perfectly competitive market are earning economic loss, in the long run, firms leave the industry and economic profit goes up to zero.
I hope my answer helps you
Stock market bubble means the increase in price of the shares traded and which falls after a point.
<u>Explanation:</u>
The bubble in the stock market is caused by the quick rise in the price in a very small period of time. The price starts falling which will be a stock market bubble burst after a significant rise in price to a value below the starting price.
The bubble takes place when the investors overestimate the share or misjudge the future of that industry. Stock market bubble affects the entire share markets or any one particular industry.
The most basic form of production are products from nature or grown using natural resources otherwise known as the most basic form of production
Answer:
Slope = -1
Explanation:
Demand is buyers ability & willingness to buy at a price, time.
Demand Curve is graphical representation of quantity demanded at various prices at y axis, demand at x axis.
Slope = Change in Y i.e ∆Y / Change in X i.e ∆X
'Slope of Demand Curve' is a varied version of 'Price Elasticity of Demand' i.e quantity demanded responsiveness to change in price. Former shows relative change in quantity demanded over a change in price & latter shows change in price for a given change in quantity demanded.
Demand Curve Price at Y axis, Quantity at Axis, Slope= ∆Y/∆X becomes
= ∆P/∆Q. As per given details, ∆P/∆Q = (9-10)/(5-4) = -1/1 = -1
