Answer:
The correct answer is (C) structural assimilation
If monopolistic competitors must expect a process of entry and exit like perfectly competitive firms, they will be unable to earn higher-than-normal profits in the long run.
<h3>What is a monopolistic competition?</h3>
A monopolistic competition is an industry characterised by many sellers of differentiated goods and services. A monopolistic competition has characteristics of both a monopoly and a perfect competition. A monopolistic competition sets the price for its goods and services. A monopolistic competition makes economic profit in the long run. An example of monopolistic competition are restaurants
A perfect competition is an industry characterized by many buyers and sellers of identical goods and services. Market prices are set by the forces of demand and supply. In the long run, firms earn zero economic profit due to no barriers to the entry and exit of firms.
Here are the options:
A. they will be unable to earn higher-than-normal profits in the short run. O B. they will wish to cooperate to make decisions about what price to charge.
OC. they will wish to cooperate to make decisions about what quantity to produce.
O D. they will be unable to earn higher-than-normal profits in the long run.
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Enterprise, it's called an enterprise
Answer: The assets that are classified as plant assets on the company's balance sheet include :
(1) the showroom building, a separate building used to service customer cars, and various parking lots.
Plant asset is known as the long-term fixed asset that is used to bring forth or sell commodities and services for the institution. These assets are tangible and are expected to produce economic benefits for the organization.
Answer:
<u>Favourable Changes:</u>
Sales
Gross Profit
Operating Income
Interest Expense
Net Income
<u>Unfavourable Changes:</u>
Cost Of Sales
Selling Expenses
General Expenses
Other Revenue
Income Taxes
Explanation:
Observe Movement from 2018 results to 2019 results
Erie Corp
Vertical Analysis of Income Statement
2019 2018
Sales 1,397 1,122
Less Cost Of Sales 935 814
Gross Profit 462 308
<u>Less Operating Expenses</u>
Selling Expenses 154 121
General Expenses 88 77
Operating Income 220 110
<u>Less Non- Operating Expenses</u>
Other Revenue 4 7
Interest Expense 2 9
Income Taxes 134 66
Net Income 88 42
