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MAXImum [283]
3 years ago
11

Perfectly competitive industry X has constant costs and its product is an inferior good. The industry is currently in long-run e

quilibrium. The economy now goes into a recession and average incomes decline. The new long-run equilibrium will result in a(n) rev: 06_26_2018 Multiple Choice increase in output and in the equilibrium price of the product. increase in output, but not in the equilibrium price of the product. decrease in output, but not in the equilibrium price of the product. decrease in output and in the equilibrium price of the product.
Business
1 answer:
andriy [413]3 years ago
5 0

The new long-run equilibrium will result in a(n) rev : increase in output and in the equilibrium price of the product.

Explanation:

Higher prices mean that the quantity needed for good increases as income decreases and vice versa. Thus the quantity required good raises in the given question as income falls as a result of the recession. It pushes up the demand curve, leading to an increase in the supply yield and a price increase in value.

Modern supply and demand changes affect both price and quantity. If the supply curve goes up, which lowers supply, but leaves demand stable, the price of exchange is increasing, but volume decreases.

For Example, pump prices are likely to rise, if the supply of petrol falls.

You might be interested in
Determinants of how long a firm should borrow money include?
mario62 [17]

Determinants of long a firm should borrow money include are:

⇒the seasonal environment of the business

⇒the cost of inventory

⇒the cash flow forecast

The term "capital structure" describes how a company decides to finance its projects and assets through a combination of internal resources, debt, and equity.

To lower their risk of insolvency, remain effective, and ultimately maintain or become profitable, a company should determine the ideal debt to equity ratio.

The capital structure of a company is influenced by a wide range of variables, including leverage or trading on equity, company growth, the nature and scale of the business, the desire to maintain control, the flexibility of the capital structure, investor requirements, the price to float new securities, the timing of the issue, the corporate tax rate, and the legal requirements.

To learn more about Capital Structure here

brainly.com/question/15041466

#SPJ1

4 0
2 years ago
A sporting equipment store expects to purchase $7,800 of ski boots in October. The store had $3,800 of ski boots in merchandise
Maksim231197 [3]

Answer:

Cost of goods sold = $8,800

Explanation:

<em>The cost of goods is represents amount incurred to make available  what has been sold. It is computed as follows:</em>

<em>Cost of goods sold = opening stock + purchases - closing inventory</em>

It is useful to determine the cost of goods so as to calculate the gross profit margin. The gross profit is the sales revenue less cost of goods sold.

So we can compute same for the sporting equipment store as follows:

Cost of goods sold = 3,800 + 7,800 - 2,800

= $8,800

Cost of goods sold = $8,800

5 0
3 years ago
PLEASE ANSWER<br> If The Fed reduces interest rates will banks make more loans or fewer loans?
dybincka [34]
More loans because with lower interest rates the people pulling out the loans will have to pay the bank less money for bigger loans.
7 0
4 years ago
Shareholders of mutual funds have all of the following rights EXCEPT: A) the right to vote on the selection of specific securiti
trapecia [35]

Answer:

you do not obtain the right to vote on the selection of specific securities for the portfolio

Explanation:

As a shareholder of a mutual fund you have many rights available such as voting proxies, receiving semiannual reports, and voting rights. Unfortunately, you do not obtain the right to vote on the selection of specific securities for the portfolio. The only individual that can make this decision is the fund manager. This individual is the one that analyzes different securities and chooses the ones that will round out and diversify the mutual fund nicely while at the same time maximizing ROI potential.

5 0
3 years ago
REFLECTION QUESTIONS
telo118 [61]

Answer:

Expenses must be close or above $2000 per month

Explanation:

For a business to operate at a profit, its revenues must exceed the expenses by a sizable proposition. Revenues refer to income from business activities, while expenses are the cost incurred in generating that income. Should the costs match or be higher than the revenue, a business will find it challenging to continue operating.

In this case, the business owner is generating revenues of $2000 per month. If he is struggling to stay open, it means the monthly expenses are around or above $2000. The $2000 that the business is generating per month is not sufficient to cater for all expenses and the desired profits. The business owner is probably making losses, and that why he is having trouble keeping the doors open.

8 0
3 years ago
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