If all firms only earn a normal profit in the long run, firms will develop new products or lower-cost production methods because they can innovate and possibly earn an economic profit in the short run.
Explanation:
Competition involves constant efforts by companies and executives to do more than the loss (normal gains) of new goods or by improving ways to manufacture current products at lower prices. Therefore, if businesses can invent, they will achieve short-term economic advantage.
Economic benefit encourages entry, economic losses lead to exit and firms in a highly profitable market earn little economic income in a long-term equilibrium. In an industry where inflation does not change the costs of materials (a market with a constant cost), the long-term supply curve is a horizontal line.
It will take 2 years because eaxh year you get 4% of the $2500 which means $100 a year
Answer:
c. believe in the use of fiscal policy to stabilize the economy.
Explanation:
According to Keynesian theory, the sum of some micro-economic behaviors of all individuals and businesses results in inefficiency and the economy operates at a level below its potential output and growth. When total demand for products is insufficient, the economy enters a crisis and unnecessary unemployment arises due to defensive behavior of the producers. In such cases, the government may pursue policies to increase aggregate demand, and as a result may accelerate economic activities and reduce unemployment. Most Keynesian propose policies to stabilize the business cycle. For example, when the unemployment level is too high, the state can pursue a growth-oriented monetary policy. , one of the most famous of his critiques, Keynes argues and did not agree with "The Laissez-faire" that he opined the doctrines of laissez-faire are dependent on some extent on a case-by-case basis.
Answer: That class ain't for you vro.
Explanation:
Answer:
Capability ratio = 1.04166
Explanation:
Given:
Length of a shoe (not deviate) = 1 mm
Standard deviation of this length = 0.32 mm
Number of standard deviations = 3
Find:
Capability ratio = ?
Computation:
Capability ratio = [Length of a shoe (not deviate) / Standard deviation of this length] / Number of standard deviations
Capability ratio = [1 / 0.32] / 3
Capability ratio = 3.125 / 3
Capability ratio = 1.04166
Capability ratio is greater than 1, therefore process is capable.
