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wel
3 years ago
12

In the long run, the economic profits for a monopolistically competitive firm will be rev: 05_15_2018 Multiple Choice the same a

s the profits for a monopolist. the same as the profits for a purely competitive firm. slightly less than the profits of a monopolist. slightly more than the profits of a purely competitive firm.
Business
1 answer:
Gwar [14]3 years ago
8 0

Answer:

The correct answer is same as the profits of a purely competitive firm.

Explanation:

A monopolistic market is characterized by a large number of sellers producing differentiated products which are close substitutes. This market has a relatively easier entry as compared to a monopoly market.  

In the long-run when a monopolistic firm will be earning a positive profit. It will attract other firms to join the market. As new firms enter the market, the market supply will increase. A rightward shift in the market supply curve will cause the price level to decline. This will continue till all the profits decline to zero.

So, similar to a purely competitive firm, a monopolistic firm also earn zero economic profit in the long run.

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The accuracy of cost-volume-profit analysis is limited because it assumes a strictly linear relationship between the variables.
AnnyKZ [126]

Answer:

True

Explanation:

One of the assumptions of this analysis is that it assumes a linear dependence on costs and income in the analysis interval.

A very useful tool when making strategic decisions, allowing to analyze different scenarios and individual projects, is the Cost-Volume-Profit.

Analysis (CVP) that works under the premise that variable costs increase in the same proportion that increases the sales of a product, while the fixed ones are independent of the volume of sales.

The CVP is useful both for planning and for evaluating results since it emphasizes the behavior of variable costs and the impact that a variation in sales volume can have on costs and benefits.

4 0
3 years ago
____ focuses on specifying what the new system will look like and how it will work.
frosja888 [35]

The answer in the space provided is system design. It is because a system design is a way of providing a definition of a specific interface or data that is laid out in means of having to gain satisfactory with the requirements being given or laid out.

4 0
3 years ago
In the economy of Mankewistan in 2015, consumption was $6000, exports were $1000, GDP was $10,000, government purchases were $18
hodyreva [135]

Answer:

$2,400

Explanation:

We know that

GDP = Consumption + Investment + Government purchase + Net exports

where,  

Net exports = Exports - imports

                    = $1,000 - $1,200

                    = -$200

Now the investment is

$10,000 =$6,000 + Investment + $1,800 - $200

$10,000 = $7,600 + Investment

So, the investment equal to

= $2,400

6 0
3 years ago
Firms are very small relative to the market. Firms have significant price control. Firms produce very similar products. There is
Anika [276]

Answer:

  1. Firms are very small relative to the market. PERFECT COMPETITION
  2. Firms have significant price control. NOT PERFECT COMPETITION - in perfect competition all firms are price takers.
  3. Firms produce very similar products. PERFECT COMPETITION
  4. There is a large number of firms. PERFECT COMPETITION
  5. There are significant barriers to entry and exit to the market. NOT PERFECT COMPETITION - in perfect competition there is free market entry and exit
  6. Firms have no price control. PERFECT COMPETITION
  7. Firms produce differentiated products. NOT PERFECT COMPETITION - in perfect competition firms produce homogeneous products.

7 0
3 years ago
When should you include your GPA on your résumé?
Pie
At the end of the resume
4 0
3 years ago
Read 2 more answers
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