Answer:
TRUE
Explanation:
A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
In the short run, the firm would continue to operate if its revenue covers variable cost. if it doesn't it would shut down.
Answer:
False
Explanation:
economist Kenji supports contractionary monetary policy because he believes that expectations adjust quickly in response to changes in policy and the efforts made by fed( an decrease in government spending and/or an increase in taxes) will be worth and the costs of reducing inflation will be less.
Whereas economist Eric, thinks that change in money supply is not a good idea to reduce inflation as it will work very slowly.
The aim of making a profit consistent with expectations for international businesses is the first and foundational responsibility of organizations in the global economy is to.
<h3>What are international businesses?</h3>
An international businesses means a business that involves in national exchanges of goods, services, or resources.
In conclusion, the aim of making a profit consistent with expectations for international businesses is the first and foundational responsibility of organizations in the global economy is to.
Read more about international businesses
<em>brainly.com/question/4979112</em>
I believe that the correct answer is affective component.
The affective component has to do with feelings, with emotional feedback. So when Janice is told her work is not interesting enough, obviously she feels sad, disappointed, embarrassed, and overall unhappy which is all a part of her affective component.
Answer:
The correct answer is b. income effect.
Explanation:
The income effect describes how the change in the price of a good can change the quantity that consumers will demand of that good and related goods, based on how the price change affects their real income.
