True true true true true true true
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.
The social media platform that Waylon should focus on more should be Insta-gram.
<h3>What are Social Media Platforms?</h3>
Social Media Platforms are websites and mobile applications software where information, ideas, thoughts are shared through virtual networks for different types of purposes such as to educate, inform, or for marketing purposes.
The target young people required for their engagement in Waylon's company is generation Z. Generation Z is mostly found and they spend most of their time on Insta-gram.
According to research, 65% of generation Z spent most of their time on this social media platform.
Learn more about social media platforms here:
brainly.com/question/3653791
Answer:
IRR= 21.86%
Explanation:
Giving the following information:
Initial investment (PV)= $10,000
Cash flows (PMT)= $4,000 per year
Number or years (n)= 4
<u>It is extremely difficult to calculate the IRR using the formula. We will use the financial calculator.</u>
Function: CMPD
n= 4
I%= SOLVE = 21.86%
PV= 10,000
PMT= -4,000
IRR= 21.86%
