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Gnom [1K]
3 years ago
14

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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Recruitment, selection ,employment

Explanation:

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<em>Staffing refers to filling the empty space or finding the appropriate person for the empty space or job.</em>

<u>The staffing function has three elements which are mentioned below-</u>

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3 years ago
At Nice Price for the Ice, an ice cream parlor, customers routinely buy a scoop of ice cream for $2.75. If consumers purchase on
Alla [95]

Answer:

Consumers would not keep buying ice cream at $2.75 because after purchasing a certain amount of ice cream, utility would be maximised and consumers would not value ice cream at $2.75 anymore. Consumers would not purchase a product it the marginal utility that would be derived from consuming the product is less than the price.

According to the law of diminishing marginal utility, as more units of a product is increased, total utility increases but at a decreasing rate.

Explanation:

Marginal utitiy is the increase in utility that is derived from consuming one more unit of a product.

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