In the new long-run equilibrium, there would be an increase in the number of suppliers of t-shirts.
<h3>What would happen when the demand for plan white t-shirts increase?</h3>
A perfect competition is when there are many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply.
When demand for t-shirts increase, there would be an excess of demand over supply. This would lead to a shortage. This would increase the price of t-shirts. In the long run, more suppliers would enter into the industry and this would increase supply of t-shirts. As a result, equilibrium would be restored.
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Answer:
$5,000
Explanation:
Calculation for what the Sales Tax Payable will be:
Sales Tax Payable=5% sales tax*Account balance $100,000
Sales Tax Payable=$5,000
Therefore the Sales Tax Payable will be: $5,000
Answer:
The correct answer is letter "A": line of credit.
Explanation:
A line of credit is an arrangement where a bank offers a maximum loan amount that the borrower can drop on at any time. The borrower, which can be an individual, business or government entity has the flexibility to take out as much as they want up to the maximum amount always that the bank counts with that amount.
Answer:
True
Explanation:
Recession is a term that describes a period of a significant reduction in the general economic activities in a country. It is a season of economic downturn characterized by reduced industrial production, a high unemployment rate, low-income levels, and a decline in trading activities. Recession is one of the naturally occurring business cycles.
The declining value of real GDP indicates a recession. Real GDP is nominal or stated GDP adjusted for inflation. A decline in real GDP tells that the economy is slowing down. Two or more consecutive seasons of slow growth that results in low or negative real GDP communicates a recession.
The economic concept that is included in this question can be refered to as positive externality.
<h3 /><h3>What is positive externality?</h3>
This has to do with the term that denotes the benefit that a party would have due to the fact that they engaged in an activity.
In this case, a person would be more likely to get more jobs and more appeal to unterviewers because they have more skills.
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