Answer:
D. if profit were positive, then firms would enter, decreasing price, and if profit were negative, then firms would exit, increasing price.
Explanation:
Perfectly competitive firms are price takers, hence they cannot influence the price of their products.
Perfectly competitive industries have no barriers to entry or exist of firms ,so if in the short run, firms are earning economic profit, then firms would enter into the industry , decreasing price, and if profit were negative, then firms would exit, increasing price. This makes perfect competitive firms to earn zero economic profit in the long run.
Answer:
A. data mining
Explanation:
Data mining is a process which is used to understand a large sum of data and to extract critical and analytical information. It is a way to read the data in the best way possible to understand the pattern and information. It is used by organizations and firms to develop insight about customers, target market and marketing process.
Answer:
Money is a medium of exchange and satisfaction of needs.
Explanation:
for instance:- if you want to eat ice cream ( which is your want). You give money to shopkeeper who sell money ( his want is money). You give him money in exchange of ice cream . In this way , double wants are satisfied.
Answer:
B.
Explanation:
Coca-Cola was trying to build new core competencies to protect and extend their current marketing position.
Answer:
$400,000
Explanation:
total variable manufacturing overhead = sum of total machine hours required during the year x variable manufacturing overhead rate per machine hour
= (35,000 hours + 20,000 hours + 15,000 hours + 30,000 hours) x $4 per machine hour = 100,000 machine hours x $4 per machine hour = $400,000
total fixed manufacturing overhead = $50,000 per quarter x 4 quarters = $200,000
