Firms usually engage in a lot of activates for profit. Zero economic profit may continue to earn profit by reducing costs.
- A monopolistic competitor, like some organizations often earn profits in the short run. The entry of some firms into the same market can bring about a shift in the demand curve faced by a monopolistically competitive firm.
When economic profit is zero, an organization is known to be earning the same as when its resources were used in the next best alternative.
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Is zero economic profit inevitable in the long run for monopolistically competitive firms? In the long run, monopolistically competitive firms
A. will not continue to earn profit because the cost of production will rise as new firms enter the market.
B. may continue to earn profit by convincing consumers their products are different.
C. will continue to earn profit due to barriers to new firms entering the market.
D. may continue to earn profit by instead beginning to produce a product identical to competitors.
E. will not continue to earn profit because monopolistically competitive firms produce identical products.
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Answer:
- $1,099,890 billion.
Explanation:
Marginal propensity to consume (MPC) = 0.990
Tax multiplier = - MPC ÷ (1 - MPC)
= - 0.990 ÷ (1 - 0.990)
= - 9
9
change in GDP = Change in taxes × Tax multiplier
= $11110 × (-99)
= - $1,099,890
the minus sign shows a decrease
Hence, the change in equilibrium GDP is - $1,099,890 billion.
Answer: Broker
Explanation: An insurance broker is a person or group of persons who have the legal authority to trade or manage insurance policy of his or her clients. A broker advices the policy holder on necessary actions to take.
Under the California code insurance brokers are not permitted for life and health insurance policy.
An insurance broker is acting as a third party to his or her clients.
Answer:
The answer is job description (JD).
Explanation:
The job description is the summary of tasks, duties, and responsibilities for a particular position. The job description also includes the requirements for the position holder. In some cases, it may details the reporting line, compensation and benefits regarding to the job.
Answer:
A. depletion
Explanation:
Depletion is provided as an expense for usage of natural resources like mines, quarries and oil wells.
