Answer:
The correct answer is option B.
Explanation:
In a competitive industry there is no restriction on entry or exit of firms in the market. So, when in the short run the firms are enjoying super normal profits or positive economic profits, this would attract potential firms to join the industry in the long run.
As a result the industry supply will increase in the long run. The increase in supply would cause the price to fall. This would further contribute in reducing revenue and profit.
This process will continue till the profit is reduced to zero. If profit falls below zero, then firms incurring loss will exit the industry. Then again zero profits will be restored by reduction in supply and increase in price.
So, we can say that perfectly competitive firms will have zero economic profits or only normal profits in the long run.
Answer:
False
Explanation:
Balance sheets relate to balance and expenditure over a period.
Tuesday the twelfth is the answer. A business day is essential a work day, which is Monday through Friday.
Based on the question above, the correct answer goes thus:
<h3>Chart</h3>
- A chart is a graphical representation for data visualization, in which the data is represented by symbols, such as bars in a bar chart, lines in a line chart, or slices in a pie chart.
- It can show tabular numeric data, functions or some kinds of quality structure and provides different information.
In conclusion,we can conclude that a chart can show, Comparison, Distribution, Composition and Relationship.
Learn more about Chart here: brainly.com/question/14323743
Answer:
D. cost of goods available for sale.
Explanation:
The cost of goods available for sale, also known as the total inventory, represents the total amount of finished products that a company had in its store for selling. The calculation of costs of goods available for sale involves adding beginning stock to the net purchases.
Beginning inventory is the ending balance in the previous financial period. It is the finished product balance brought forward of the prior period. Net purchases are the purchases adjusted for discounts and purchase returns. The costs of goods available for sale minus ending inventory will equal to the costs of goods sold.
