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AlexFokin [52]
3 years ago
5

Suppose independent truckers operate in a perfectly competitive constant cost industry. If these firms are earning positive econ

omic profits, what happens in the long run to the following: The price of trucking services
Business
1 answer:
Deffense [45]3 years ago
8 0

Answer:

The price of trucking services would fall until equilibrium prices are reached. Only normal profit would be earned in the long 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.  

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Now that you have identified Verdure Wellness Club's target market, you need to turn your attention to the buyer decision proces
tigry1 [53]

Answer: The answer is True.

Explanation: The Buyer Decision process has 5 phases and they are as follows:

1. Need recognition phase, where the buyer recognizes that they have a need to fill.

2. Information search phase, where the buyer seeks information on the best options to meet their needs.

3. Alternative evaluation phase, where a buyer evaluates the alternative enterprises that can best meet their needs.

4. The purchasing phase, where a buyer makes the decision to purchase the product or service of the best alternative, based on the evaluation in phase 3.

5. Post-purchase behavior phase where the buyer will either be happy with the product or service or will regret buying the product or service. Often, the buyer will advice other people to either buy or avoid buying that product or service, based on their experience.

4 0
3 years ago
Groups form naturally and there is little anyone can do to influence the success or cohesiveness of a group dynamic
irakobra [83]

Answer:

False.

Explanation:

While it is true that groups often form naturally, it is false that you can't have much influence over a group. A strong leader who understands management principals will be able to influence group dynamics.

8 0
2 years ago
Suppose the economy is in a recession. The economy needs to expand by at least $350 billion, and the marginal propensity to cons
MissTica

Answer:

$140

Explanation:

Calculation for What is the least amount the government can spend to overcome the $350 billion gap

First step is to find the Multiplier using this formula

Multiplier=1(1-Marginal propensity)

Let plug in the formula

Multiplier=1/(1-0.6)

Multiplier=1/0.4

Multiplier=2.5

Now let calculate the least amount the government can spend using this formula

Least amount=Gap/Multiplier

Let plug in the formula

Least amount=$350 billion /2.5

Least amount=$140

Therefore the least amount the government can spend to overcome the $350 billion gap is $140

4 0
3 years ago
ACES is a quality auditing firm. It has dedicated a team of managers, business analysts, and system analysts to develop an infor
ivann1987 [24]

Answer: (4) Requirement analysis

Explanation:

 The requirement analysis is one of the process of determine the actual user expectation for building the new product with the help of new modifications.

The requirement analysis is one of the phrases of SDLC (Software development life cycle). The requirement analysis is also known as requirement engineering.

According to the question, the requirement analysis is one of the software development life cycle phase in which the information system are produced by using the report according to the organization quality.

Therefore, Option (4) is correct.

3 0
3 years ago
Zack developed software that helps farmers to plow their fields in a manner that prevents erosion and maximizes the effectivenes
Reil [10]

Answer:

$60,000 or $12,000

Explanation:

1. Since Zack expects Sparky to use the developed software for a period of five years, we could assume that the revenue for the first year of the contract would be $60,000.

2. Or if we Spread out the average revenue for a period of five years from the licensing fee, 60,000 / 5 (years) would give us 12,000 dollars per year.

5 0
2 years ago
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