Answer:
shutdown in the short run
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous 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.
A firm should shut down in the short run if price is less than average variable cost.
for T-Shirt Enterprises, price is $2 which is less than average variable cost
Answer:
B. develop the research plan
Explanation:
Answer: (4) Values
Explanation:
The values are basically refers to the fundamental beliefs that helps in motivating our actions and the attitude of the person.
The values plays an important role in our life as it developing the various types of good the respect, honesty and the also teach us that always respect the regions and culture.
According to the given question, the values is basically refers to the permanent and deeply underlying belief that helps in determine the attitude of the person.
Therefore, Option ($) is correct answer.
Answer:
$3,520.65
Explanation:
The computation of the future value is shown below:
As we know that
Future value = Present value × (1 + interest rate)^number of years
= $250 × (1 + 0.0275)^5 + $450 × (1 + 0.0275)^4 + $650 × (1 + 0.0275)^3 + $850 × (1 + 0.0275)^2 + $1,100 × (1 + 0.0275)^1
= $286.32 + $501.58 + $705.11 + $897.39 + $1,130.25
= $3,520.65
We do the reversing time period and according to that the calculation can come.
Answer:
Option (D) is correct.
Explanation:
When the government sets the price of a particular good above the equilibrium level is known as the binding price floor. But this will lead to an increase in the price level or we can say that will lead to an inflation. Hence, there is a fall in the purchasing power of the consumers and therefore, fall in the demand of goods.
So, this would create a surplus of goods due to the unsold quantity of goods.
