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igor_vitrenko [27]
3 years ago
5

What does zero economic profit mean in a perfectly competitive market in the long run?

Business
1 answer:
shutvik [7]3 years ago
7 0
The existence of economic profits attracts entry, economic losses lead to exit, and in long-run equilibrium, firms in a perfectly competitive industry will earn zero economic profit. ... It will induce entry or exit in the long run so that price will change by enough to leave firms earning zero economic profit
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A buyer submits an offer to purchase to the listing agent. He finds out that more than several offers are coming in for the same
zmey [24]

A buyer submits an offer to purchase to the listing agent. He finds out that more than several offers are coming in for the same property. He can expect that all offers will probably be presented at the same time, and the seller will select among them.

Explanation:

In certain situations buyers have to consider multiple rival purchase deals. Sellers will deal with different deals in several ways.

Sellers should consider the "highest" bid; warn all potential buyers that other deals are "at the table;" they can "compare" one offer by put the another offer on the side pending a counter-offer vote, or they can "fight" one offer and refuse the other.

The various bargaining tactics that you can use in multiple deals agreements are advantages and disadvantages. The low initial bid may lead to the purchase of the property you want for less than the quoted price, or may lead to the acceptance of a higher offer from another bidder.

3 0
3 years ago
If an investment of $35,000 is earning an interest rate of 8.00%, compounded annually, then it will take for this investment to
Snowcat [4.5K]

Answer:

Therefore the required time period is 3 years.

Explanation:

To calculate the number of period we are using the following formula of future value

Future value = C_0(1+r)^n

C_0 is cash flow at period 0= $ 35,00

r = rate of interest = 8.00% = 0.08

n= number of periods = ?

Future value = $44,089.92

Substituting the values in the formula

44,089.92= 35,000(1+0.08)^n

\Rightarrow (1+0.08)^n=\frac{44089.92}{35000}

\Rightarrow(1.08)^n = 1.259712

\Rightarrow (1.08)^n=(1.08)^3

\therefore n= 3

Therefore the required time period is 3 years.

6 0
3 years ago
According to marx, the best economic system would be one where the means of production and distribution are in the hands of the
ololo11 [35]
Karl Marx is the founder of modern communism. Bourgeousie defines the capitalists, those who own the means of production and who take advantage of the labor (work) of the proletariat (the mass of workers who do not own the means of production and are not fairly compensated for their work).
<span>The statement that according to Marx, the best economic system would be one where the means of production and distribution are in the hands of the bourgeoisie is false. In contrast, according to Marx the best economic system would be </span><span>one where the means of production and distribution are in the hands of the proleteriat.</span>

3 0
3 years ago
The ____ provide(s) schedule-related information about each activity, such as predecessors, successors, logical relationships, l
never [62]

Answer:

The answer is D. Activity attributes

Explanation:

Activity attributes are descriptive components of an activity. Examples of these attributes include;  activity name, description and responsible person.

6 0
3 years ago
Identify each of the following terms or phrases as an accounting (a) principle, (b) assumption, or (c) constraint.
german

Answer and Explanation:

The identification of the following terms as an accounting principle, assumption or constraint is

1 Business entity    = Assumption

2. Measurement  = Principle

3 Cost-benefit   = Constraint

4 Revenue recognition  = Principle

In this way the identification of the accounting terms would be done

The same is relevant too

7 0
2 years ago
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