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masya89 [10]
4 years ago
13

Assume the market for ball bearings is purely competitive. Currently, each of the firms in this market is earning positive econo

mic profits. In the long run, as adjustments occur in the industry, we can expect the market price of ball bearings to a. increase and individual firms' profits to decreaseb. increase and individual firms' profits to increasec. decrease individual firms' profits to increased. decrease and individual firms' profits to decrease
Business
1 answer:
AleksandrR [38]4 years ago
3 0

Answer: Given, the ball bearing market is purely competitive. Also at the current stage the firms in this market are earning positive economic profits.

Therefore , in the long run as adjustments occur in the industry, we can expect the market price of ball bearings to<em><u> </u></em><u><em>decrease and individual firms' profits to decrease.</em></u>

This will take place as new firms will enter the market once they analyze that the existing firms are earning positive economic profits. Thus this will lead to decrease in price of ball bearing and further will lead to decrease in profit os a firm.

<u><em></em></u>

<u><em>Therefore, the correct option is (d)</em></u>

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In analyzing company operations, the controller of the corporation found a $250,000 favorable flexible-budget revenue variance.
goldenfox [79]

Answer: C. changes in unit selling prices.

Explanation:

The options given are:

a. the total flexible budget variance

b. the total static budget variance

c. changes in unit selling prices

d. changes in the number of units sold

Based on the information given, the variance can be wholly explained by changes in unit selling prices.

This is due to the fact that the flexible budget revenue variance is calculated and gotten as the difference between the budgeted revenue and the actual revenue at thesame activity level.

Therefore, the number of units will be thesame in both the actual results and the flexble budget. Then, the difference will be as a result of the change in the unit selling price.

8 0
3 years ago
Kalen is a seventeen-year-old minor who has just graduated from high school. He is attending a university two hundred miles from
aleksandrvk [35]

Answer and Explanation:

According to the scenario, the explanation of the given situation are as follow:-

1. Ability of Contract : According to the law except of some contract a minor can enter into any contract. Mr. kalen is a seventeen year old minor and he can entered the rent contract because it is not banned by the government for the minor.  

2. This is a voidable contract because Mr. Kalen is a minor and he not legally capable to entering in agreement. In voidable contract one party has a right to discontinue the contract it is depends on him that he want to void it or not. If he wants to void it he cannot be bound to go further with this contract. If a minor wants he can rightfully dis-affirm any contract in which he enters.

According to the analysis, under this circumstance, Mr. kalen is not bound to the contract because he is still minor and he shows his disaffirmance of contract by returning the key to landlord. So he is not liable for the balance of the payments due under the lease.    

5 0
3 years ago
At January 1, 2016, Deer Corp. has beginning inventory of 2,000 surfboards. Deer estimates it will sell 10,000 units during the
BlackZzzverrR [31]

Answer:

Sales revenue= $1,881,600

Explanation:

Giving the following information:

Deer estimates it will sell 10,000 units during the first quarter of 2016 with a 12% increase in sales each quarter. Each surfboard costs $100 and is sold for $150.

Sales:

First quarter= 10,000

Second quarter= 10,000*1.12= 11,200

Third quarter= 11,200*1.12= 12,544

Sales revenue= 12,544*150= $1,881,600

7 0
4 years ago
George had a previous balance on his credit card of $330.19 on which he paid $50.00. He
Svetllana [295]
Since it’s a credit card you must subtract 330.19-50.00 = 280.19 then with the fine you add 280.19+4.20= 284.39. So the new balance is $284.39
3 0
3 years ago
Utility bills change each monthly, so these are called _____ expenses.
Degger [83]
Answer: C. hope this help!!!!!
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