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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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Havermill Co. establishes a $460 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei
frozen [14]

Answer:  Debit Petty cash $408; Credit Cash $408.

Explanation: Petty cash is a small amount of fund set aside for immediate or urgent minor expenses. In most organizations, there is a limit to the petty cash amount that a business unit can have. And someone is always saddled with the responsibility of managing the fund. It has its business rule in the sense that the amount should not be withdrawn beyond zero balance to throw it into debit.

In the instance of the question, the petty cash is $460 and within September, total expenses of $316 were incurred and paid for, leaving a balance of $144. However, the accountant determines that this cash should be increased by $92 on 1 October, so reimbursement to the fund would be the amount already spent ($316) and the proposed increment ($92), making $408.

5 0
3 years ago
In order to be the basis for a firm's superior performance, a bundle of resources must be valuable, rare, and imitable.
frozen [14]

Answer:

The statement is: False.

Explanation:

A bundle of resources has three characteristics: valuable (<em>the resource helps the company to pursue its objectives and is priceless for consumers</em>), rare (<em>limited competition</em>), and inimitable (<em>resource is not easy to reproduce by the firm's closest competitors or imitating it is expensive</em>).

Being<em> imitable </em>is the opposite of what a bundle of resources should be.

7 0
3 years ago
Those who are working are defined as_____ (one word) and those who are not working but actively seeking work are defined as____
Nat2105 [25]

Those who're running are described as hired and people who aren't running however actively in search of paintings are described as unemployed.

The required details for Unemployment in given paragraph

Unemployment, in keeping with the OECD now no longer being in paid employment or self-employment however presently to be had for paintings all through the reference period. Unemployment is measured through the unemployment rate, that's the range of those who are unemployed as a percent of the hard work force (the overall range of humans hired introduced to the ones unemployed). Unemployment and the fame of the financial system may be stimulated through a rustic thru, for example, financial policy. Furthermore, the financial authority of a rustic, along with the relevant bank, can have an impact on the supply and price for cash thru its financial policy. In addition to theories of unemployment, some categorizations of unemployment are used for extra precisely modelling the consequences of unemployment within side the financial system. Some of the principle styles of unemployment include structural unemployment, frictional unemployment, cyclical unemployment, involuntary unemployment and classical unemployment.

Structural unemployment specializes in foundational troubles within side the financial system and inefficiencies inherent in hard work markets, which include a mismatch among the deliver and call for of people with important talent sets. Structural arguments emphasize reasons and answers associated to disruptive technologies and globalization.

To know about Unemployment click here

brainly.com/question/22741851

#SPJ4

8 0
1 year ago
Two main reasons a company will market its products are to _____. (Select all that apply)
Leni [432]

Answer:

3. consumers know what is available

Explanation:

3 0
3 years ago
Paramedics require excellent mechanical skills. <br><br> True<br><br> False
UkoKoshka [18]
False.)
Why? Paramedics have the minimal amount of machines to manage, they’re more versed in having excellent skills in well, being paramedics, lol. Hope this helps and good luck!! :)
6 0
3 years ago
Read 2 more answers
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