Ask question

Ask question

All categories

igor_vitrenko [27]

3 years ago

5

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

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

You might be interested in

Chip bought 10 shares of apex company for $40 each and later sold all of them at $45 each. this transaction resulted in what typ

polet [3.4K]

The correct answer is capital gain.

6 0

3 years ago

Read 2 more answers

Which is true of someone with a low credit score? I. They probably make on time payments. II. They may not be able to rent the a

Tju [1.3M]

I think its number two but im not entirely sure

8 0

3 years ago

Read 2 more answers

Can you help with 1040 form for acct 130 class

Len [333]

Answer:

what is the question lol? I could probably help you out !

6 0

2 years ago

A survey of 50 retail stores revealed that the average price of a microwave was $375 with a sample standard deviation of $20. As

ohaa [14]

Answer:

True cost of the microwave is in 99% confidence interval: $c. $323.40 to $426.60$

Explanation:

Relevant data:

$n=50\\\mu=375\\\sigma=20\\\alpha=0,001$

As we want to know the 99% confidence interval, the significance level is:

$(1-\alpha).100\%=99\%\\1-\alpha=0.99\\\alpha=0.01$

We need to estimate a confidence interval by a two tailed normal bell. Then we have:

$Z_{\alpha/2}=Z_{0.005}$

The z-value for a probability of 0.005 in a normal standard distribution is 2.576

Confidence interval is given by;:

$\=x\±Z_{\alpha/2}\sigma\\375\±Z_{\0.005}(20)\\375\±(2.58)(20)\\375\±51.60$

$375+51.60=426.60\\375-51.60=323.40$

True cost of the microwave is in 99% confidence interval: $c. $323.40 to $426.60$

6 0

3 years ago

Corbel Corporation has two divisions: Division A and Division B. Last month, the company reported a contribution margin of $46,4

diamong [38]

Answer:

$5300

Explanation:

Contribution margin for Division B = Sales * Contribution margin ratio

= $243,000 * 20%

= $46,800

Total contribution margin = Division A + Division B

= $46,400 + $46,800

= $93,200

Contribution margin $93,200

Less : Traceable fixed expenses $51,100

Less : Common fixed expenses (plug) $5300

Net operating income $33,800

5 0

3 years ago