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
Rasek [7]
3 years ago
10

Suppose that the market for candy canes operates under conditions of perfect competition, that it is initially in long-run equil

ibrium, and that the price of each candy cane is $0.20. Now suppose that the price of sugar falls, decreasing the marginal and average total costs of producing candy canes by $0.15. Based on the information given, we can conclude that in the short run a typical producer of candy canes will be making:
Business
1 answer:
vova2212 [387]3 years ago
6 0

Answer:

Positive economic profit

Explanation: In the economic profit, we have to consider the revenue earned and the cost of production including the opportunity cost. In the scenario above, the economic profit is positive, because, the average and marginal cost falls by $0.15 at a time when the sales price of the product is $0.20. The economic profit here is positive, due to the further reduction in the marginal and average price of an important material in the production process. In this scenario, due to positive economic profit, the New firms are attracted to the market.

You might be interested in
Blossom Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An employ
Xelga [282]

Answer:

A) to determine the cost of the asset being depreciated we must use the first year's depreciation using the double declining method to find 40% of the asset's value:

40% of the asset's value = $29,200

asset's value = $29,200 / 40% = $73,000

B) salvage value = asset's value - total depreciation = $73,000 - $65,700 = $7,300

5 0
3 years ago
Hank purchased a new grill for $349 on his credit card. He had a previous balance of $225.91. A finance charge of $8.62 was asse
Lady bird [3.3K]
If his starting balance is the $225.91

then his balance would be

 -131.71
4 0
3 years ago
Read 2 more answers
Which statement is true regarding Check No. - 409?
kakasveta [241]
What are the statements?
3 0
3 years ago
What happens if you fail to pay your annual taxes?
aleksklad [387]

Answer and Explanation:

Simply enough, the IRS comes for you and charges a failure to pay penalty. The penalty is 0.5% of your previous unpaid taxes for every month. So if you wouldn't want to lose more money, I'd suggest you pay your taxes.

7 0
2 years ago
Julie is looking to sell her flower shop. She should hire a(n) _____ to help her find a buyer and negotiate the sale.
Alchen [17]

Answer:

B is the answer for the question

8 0
2 years ago
Other questions:
  • The short-run is- a time period in which the prices of output cannot change but in whihc the prices of inputs have time to adjus
    5·1 answer
  • One common system for computing a grade point average​ (gpa) assigns 4 points to an​ a, 3 points to a​ b, 2 points to a​ c, 1 po
    12·2 answers
  • If economists calculate the gdp for 2009, using current prices of year 2009, what are they estimating?
    12·1 answer
  • Suppose the following data were taken from the 2017 and 2016 financial statements of American Eagle Outfitters. (All numbers, in
    6·1 answer
  • Help me with this please the answer I choose is incorrect !!
    8·2 answers
  • Sue’s bank account has a balance of $899.83 before she starts spending money. She makes the following transactions: Transaction
    6·2 answers
  • In economics, what is the meaning of the phrase 'the tragedy of the commons?' Goods that are not rivalrous but are excludable ar
    9·1 answer
  • If there was no beginning retained earnings, net income of $30,300, and ending retained earnings of $8,000, how much were divide
    15·1 answer
  • Fran, a spokesperson for her company, gives a speech harshly criticizing the mayor and his business policies. Fran's boss, howev
    14·1 answer
  • The competitive situation where at&t, mci, and sprint control approximately 80 percent of the international long-distance te
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!