Answer:
The answer is C.
Explanation:
In a competitive market, all firms produce identical goods and services. No firm or seller can influence the prevailing market price. To increase their revenue, firms must increase their outputs.
In this industry, firms make economic profit(revenue minus accounting cost minus implicit cost) in the short run but this economic profit reduces to zero in the long run because more firms that are attracted by the short run profit can enter the industry freely. Firms can also exit with little or no cost.
Markus Braun's first step in making a rational decision is <em>a. Define the problem.</em>
The definition of the problem of where to open businesses will enable Markus to:
- Establish critical decision criteria that will be used to adjudge the different choices.
- Ascertain and evaluate the optimal locations that will meet his investment requirements.
Six decision-making processes identified for achieving satisfactory outcomes include:
- Step 1 is the Identification of the Problem
- Step 2 is the Establishment of the Decision Criteria
- Step 3 is the Weighing of the Decision Criteria
- Step 4 is the Generation or Identification of Alternatives
- Step 5 is the Evaluation of Alternatives
- Step 6 is the Selection of the Best Alternative
Thus, wherever these processes are followed, the probability of achieving favorable outcomes become higher.
Read more: brainly.com/question/16867992
Answer:
Explanation:
Before preparing the income statement, first, we have to compute the net income or net loss. So, the calculation is shown below:
In the simplest form, the net income = Total revenue - total expenses
= Sales revenue - the cost of good sold - insurance expense - depreciation expense - interest expense - income tax expense - salaries and wages expense
= $5,000 - $1,040 - $210 - $415 - $600 - $190 - $750
= $1,795
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
Answer:
Just like a job, Entrepreneurship is one of the option to generate income.
The thing that differentiate Entrepreneurship and a Job is the potential risk and benefits. Entrepreneurship tend to have higher risk of failure compared to a job. But, it also possess the higher potential of income.
If you don't get a job and want to turn to entrepreneurship, the first things you need to get are ideas & Capital.
Ideas determine the type of business that you want to make along with marketing strategy and market market. Your capital is the resources that you need to make your ideas into reality.
Capital could be obtained from Loan, savings, or investment.
For example, One of the sector with lowest Capital is Software , internet content, or digital marketing. But you have to have enough skill in coding or art. you can Find the learning resources for practically zero cost online.
Answer: A. Impossibility of performance
Explanation:
Impossibility of contract is a doctrine where by a contract is rendered invalid on the bases of uncontrollable circumstances which renders performance of contract impossible. Impossibility of performance can be difficult to prove.