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3 years ago

If a firm earns $9,000 in long-run, then what type of market structure does this firm belong to?

Business

1 answer:

allsm [11]3 years ago

7 0

Answer: Pure monopolist

Explanation:

For perfect competition and monopolistic competition, the firms can't experience long run profit as they can only make profit in the short run. This is because due to the fact that there are several number of firms that are producing identical products, the profit are thereby eliminated in the long run.

A pure monopolist is the only seller of a particular good in the market and therefore they can make long run profit.

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E3-27 (book/static) The Home Style Eats has two restaurants that are open 24 hours a day. Fixed costs for the two restaurants to

vazorg [7]

Answer:

Explanation:

Contribution Margin=Sales - variable cost =$8.75-$3.50=$5.25

Contribution Margin Ratio = Contribution Margin / Sales = $5.25/ $8.75=60%

Pre-Tax Net Income=Net Income/(1-tax rate)

$117,600/(1-0.36)=$183,750

Target Revenue =Fixed cost +Target Pre-Tax net Income/Contribution margin Ratio =($430,500+$183,750)/0.6=$1,023,750

2. Number of customers needed to Break Even

Fixed costs/Contribution margin per unit=$430,500/$5.25=82,000 Customers

Number of customers to earn 117,600 = (Fixed costs + 117,600)/5.25 = (430,500+117,600)/5.25 = 104,400

Sales (170,000*8.75) 1,487,500

Less: Cost of goods sold (170,000*3.50) -595,000

Contribution margin 892,500

Less: fixed costs -430,500

Net Income before tax 462,000

Less: tax rate (462,000*36%) - 166,320

Net Income after tax 295,680

3 0

2 years ago

The additional income from selling one more unit of a good, sometimes equal to price, is _____.

Alecsey [184]

Marginal Revenue.......

7 0

3 years ago

Read 2 more answers

Leisure is Select one: a. a good that is not counted in GDP. b. a good that is counted in GDP. c. neither a good nor a bad, and

Greeley [361]

Answer:

a. a good that is not counted in GDP.

Explanation:

Leisure is not counted in GDP if the leisure activity does not have a market value, and is not exchanged in the markeplace.

For example, going for a walk, or sitting at a park to read are leisure activities that are not considered economically productive, and therefore, are not counted in GDP.

8 0

3 years ago

An aging of a company's accounts receivable indicates that $4,500 are estimated to be uncollectible. If Allowance for Doubtful A

lyudmila [28]

Answer:

a. debit to bad Debt expense for $3,300

Explanation:

The Journal entry is shown below:-

Bad debt expenses Dr, $3,300

To Allowance for doubtful accounts $3,300

(Being bad debts expenses is recorded)

Therefore to record the bad debt for the period we simply debited the bad debt expenses as it increase the expenses and on the other hand we credited the allowance for doubtful accounts as decrease the assets.

So, the right answer is a. debit to bad Debt expense for $3,300 option.

Working Note:-

Bad debt expenses = Estimated uncollectible - Credit balance

= $4,500 - $1,200

= $3,300

4 0

2 years ago

Which systems are worth sharing on a transnational basis, from a cost and feasibility point of view? .

Hoochie [10]

Answer:

The systems that support functions that are absolutely critical to the organization

Explanation:

Only the systems that support functions that are absolutely critical to the organization. Critical in such that it no organization can do without them, I.e they are very important to for their survival.

4 0

3 years ago