1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Natalija [7]
3 years ago
8

1. For a firm in a perfectly competitive market, the price of the good is always

Business
1 answer:
andreyandreev [35.5K]3 years ago
4 0

Answer:

A). equal to marginal revenue.

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.  

Price = marginal revenue = average revenue

You might be interested in
Which of the following is described as an event that a company hosts to thank its loyal​ customers?
Jobisdone [24]
<h2>Answer:</h2><h2>Option C: Brandfest</h2><h2>Brandfest is described as an event that a company hosts to than its loyal customers.</h2>

Explanation:

Brandfest is the most important way to thank its loyal customer and bring more business by sustaining the brand name.

Entrepreneur: He is the person who sets up the business.

Crowdsourcing: Obtaining information from a large number of people.

Value proposition: This is an attractive way in marketing to impress and bring more business

Folksonomy: This is to segregate items online according to the category. This is done with the help of tagging an item.

7 0
3 years ago
Suppose the marginal propensity to consume is equal to 0.75. If the government lowers tax rates and tax revenue falls by $100 mi
vovikov84 [41]

Answer:

$100; $75

Explanation:

Given that:

  • Tax revenue falls by 100 million dollars
  • marginal propensity to consume (MPC) is 0.75.

Due to the fall in tax revenue, disposable income will increase by the same amount, that is, $100 million.

Consuption spending will initially increase by $75 million, as shown below:

= MPC × tax revenue fall

= 0.75 × $100,000,000 = $75,000,000

6 0
3 years ago
Nessca solutions inc. has recently created a hardware and software system for transmitting data among different departments with
dmitriy555 [2]
The answer is: Technology and planning integration
Technology and planning integration refers to the use of modern technology in order to achieve company's goals more efficiently.
Not only that, implementing technological assistance will lower the total cost made by the company in the long run.

8 0
3 years ago
Gross domestic product (gdp) is the total market value of all intermediate and final goods and services produced by an economy i
MrMuchimi
A. true
the gross domestic product acts as a quantitative measure of an economy's economic activity on an annual basis

7 0
3 years ago
Why might complaints of age discrimination grow when the economy is slow? companies work very hard to retain their best talent i
siniylev [52]

Companies may try to lower their labor costs by laying off higher paid workers.

Typically the higher paid workers will be professionals who have worked their way up over time and tend to be older, while younger workers fresh out of school and looking for their first jobs will be more willing to take lower salaries.

5 0
3 years ago
Other questions:
  • Madison Corporation's production cycle starts in the Processing Department. The following information is available for April: Un
    15·1 answer
  • Swifty Corporation records purchases at net amounts. On May 5 Swifty purchased merchandise on account, $85000, terms 2/10, n/30.
    7·1 answer
  • The department chair of the it department issued a directive that "absolutely no food or drink are allowed in any computer lab."
    15·2 answers
  • For each "point" you pay on a mortgage, you get a one-quarter percent reduction in the interest rate. You want to get a .375% re
    14·2 answers
  • The Wax Works sells 400 candles at a price of​ $6 per candle. The Wax​ Works' total costs for producing 400 candles are​ $2500.
    12·1 answer
  • Which logical operator would return the fewest records and or not nor?
    6·1 answer
  • The unemployment rate that includes discouraged workers and people working​ part-time who would prefer​ full-time jobs
    9·1 answer
  • Imagine that an economic recession erodes consumer confidence. As a result, the marginal propensity to consume drops from .8 to
    11·1 answer
  • You lend​ $5,000 to a friend for one year at a nominal interest rate of​ 10%. Inflation during that year is​ 5%. As a​ result, y
    15·2 answers
  • A type of chart that uses vertical bars to compare data is called a
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!