Answer:
C) earning an economic profit.
Explanation:
Since the market is in long run equilibrium, the demand = the supply of haircuts, and an increase in the quantity demanded will increase the equilibrium price in the short run, generating economic profits at least until more suppliers enter the market and long run equilibrium is established again. Economic profit doesn't exist when the market is at long run equilibrium.
*Economic profit = accounting profit - implicit costs. So economic profit being $0 in the long run doesn't mean the businesses are not making an accounting profit.
Answer:
Hey will you marry me? serious question
three guests
Explanation:
A temporary member may enjoy the club's services and privileges for a period of not more than three days per invitation. A temporary member may bring not more than three guests to the club and must remain in their presence while they are at the club.
Answer:
12.57
Explanation:
The first part is correct with the answer of 12.57. The formula is x_bar_bar + 3*sigma/sqrt(n)
Here x_bar_bar = 12.51, sigma = 0.04, n = 4.
Thus UCL = 12.51 + 3*0.04/sqrt(4) = 12.57