After all resulting adjustments have been completed, the new equilibrium price will less than the initial price and output. The same will happen to the industry output. In each situation in which <span>an increase in product demand occurs in a decreasing-cost industry the result is: </span>the new long-run equilibrium price is lower than the original long-run equilibrium price.
Answer:
false
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
While the market for lettuce sells identical items, there are many buyers and sellers
Answer:
C. Personnel management
Explanation:
The personnel management, the HR it’s a transversal are inside the companies and its and important issue inside the company’s management, it is a reason because you have to improve the conditions to the employees and make more attractive the company allow that the best human capital be interesting in work to the firms that make these types of changes allows to get the best results thanks to the people that work for the organisation
.
Answer:
1. T=19.5n+91.75, where n<70
2. T=15n+45, where n≥70
Explanation:
1. The first linear function can be expressed as;
Total cost of catering services=(Cost per person×number of people, n)+Service charge
where;
Total cost of catering services=T
Cost per person=$19.50
Number of people=n
Service charge=$91.75
Replacing;
T=(19.5×n)+91.75
T=19.5n+91.75
The first equation: T=19.5n+91.75, where n<70
2. The second linear function can be expressed as;
Total cost of catering services=(Cost per person×number of people, n)+Service charge
where;
Total cost of catering services=T
Cost per person=$15
Number of people=n
Service charge=$45
Replacing;
T=(15×n)+45
T=15n+45
The second equation: T=15n+45, where n≥70
