Answer: The break even point in dollars is $2,000,000.
We calculate the break even point (BEP) in dollars as follows:
We calculate Contribution Margin ratio as :
Substituting the Contribution Margin Ratio in the break even point formula we get,
BEP = $2,000,000
In this situation, i will probably call 911 and directly report the situation to the police as soon as possible. That person may be there for some innocent resorts, but his/her behavior is really suspicious and it is better to take precaution rather than have to deal with potential unwanted consequences
Expensive cost affected market out put decision
Answer:
All firms get zero profit
Explanation:
Because
When patent expires, it causes free entry of new firms which increases market supply. The market supply curve shifts rightward which decreases price lower than P1. In new long run equilibrium, all firms earn zero economic profit
Development is the process of an economy’s increasing industrialization, standard of living, and economic wealth.
When there is a development in economics, they focus on improving the fiscal economic and social conditions in developing countries. Development does not happen over night or at a fast pace but eventually the areas they want to have developed become more economically sound to keep up with the economy's needs. There are 4 stages of economic development, they are expansion, peak, contraction and trough.
