1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Afina-wow [57]
3 years ago
9

A perfectly competitive firm earns a profit when price is

Business
1 answer:
Nonamiya [84]3 years ago
4 0

A  perfectly competitive firm earns a profit when price is above the average total cost.

A perfect competitive firm is a firm that operates in a perfectly competitive market. A perfectly competitive market is a market where the goods and services exchanged are homogenous. There is perfect information in this type of market.

In the long run, firms in a perfect competition earn only a normal profit. If in the short run, firms are earning economic profit, new firms would enter into the market. This would wipe out economic profit. In the short run, if an economic loss is been made, firms would leave the industry.

To learn more, please check: brainly.com/question/13761559

You might be interested in
When random assignment fails to create equivalent groups, the problem of _____ occurs?
s2008m [1.1K]
<span>Third variables are common problems that add or introduce additional explanations for a reaction or occurrence. That means that when conducting test, the variable is not the only consideration of cause, and the effect of the third variable must be analyzed and isolated from the overall results, otherwise the data is influenced and inaccurate.</span>
8 0
3 years ago
Discuss the business of a barbershop or hair salon. Name the entities that are the ""main things"" about this business. Give exa
Bas_tet [7]

Answer:

An entity is an abstract category or grouping of things that share a common quality, and an instance, is a particular form or type of the entity.

In a barbershop, the main entities would be:

  • Barbers
  • Hair Cutting instruments
  • Furniture

And some instances for each entity would be:

  • Barber - Barber A, Barber B, Barber C, each representing a different person.
  • Hair Cutting instruments - razors, blades, clips.
  • Furniture - chairs, counter, mirrors, brooms, bulbs.

7 0
3 years ago
Alex is a self-employed dentist who operates a qualifying office in his home. Alex has $180,000 gross income from his practice a
lubasha [3.4K]

Answer:

The correct answer is $20,000.

Explanation:

According to the scenario, the given data are as follows:

Gross income = $180,000

Business expense = $160,000

Mortgage interest and property taxes expense = $14,000

Other home office expense = $9,000

So, we can calculate the total allowable home office deduction by using following method:

As we know, first we have to deduct the business expense from the gross income and than if there any net income left than other expense can be deducted.

Hence,

= Gross income - Business expense

= $180,000 - $160,000

= $20,000

5 0
3 years ago
Sue purchased a stock for $26.50 a share, held it for one year, received a $1.34 dividend, and sold the stock for $28.45. What n
babunello [35]

Answer:

the nominal rate of return she earned is 12.42%

Explanation:

The computation of the nominal rate of return she earned is shown below:

return = (sell price - buy price + dividend) ÷ buy price

= ($28.45 - $26.50 + 1.34) ÷ ($26.50)

= 12.42%

Hence, the nominal rate of return she earned is 12.42%

We simply applied the above formula so that the correct rate could come

6 0
3 years ago
Manufacturing Company has labor costs as follows: Gross Wages Factory...........$1,000,000 Net Wages Factory....................
Afina-wow [57]

Answer:

The debit of $1,100,000 is posted to factory labor

Explanation:

The debit to factory labor would comprises of the gross wages and employee payroll taxes payable as the cost of factory labor should reflect the company's total costs incurred for the relevant period.

Debit to factory labor=$1,000,000+$100,000

                                   =$1,100,000

There are some certain deductions taken from wages and salaries before the remnant is paid to employees such as contribution to pension scheme,the fact that such deductions are not paid to employees now  does not mean it should be excluded from total cost of labor as it is a part and parcel of payroll expenses.

3 0
4 years ago
Other questions:
  • Which best describes the equilibrium price in the relationship between supply and demand?
    10·1 answer
  • To obtain the greatest gains from trade, a country should specialize in and __________ those goods for which it has a comparativ
    15·1 answer
  • Which of the following terms is used to describe outputs of joint production processes that are relatively minor in quantity or
    9·1 answer
  • A U.S. exporter has a Thai baht account receivable resulting from an export sale on June 1 to a customer in Thailand. The export
    5·1 answer
  • Which of the following statements is consistent with the ideas that W. Edwards Deming promoted regarding quality management? a.
    12·1 answer
  • You play racquetball at a community club. You have two options for paying for court time. Option A: You pay $12 for court time e
    11·2 answers
  • 1. Define "Minimum wage", and tell me what the current minimum wage is today.
    14·1 answer
  • Lexigraphic Printing Company is considering replacing a machine that has been used in its factory for four years. Relevant data
    5·1 answer
  • I need help brainstorming ideas for my innovation class.
    10·1 answer
  • A firm that sells baseballs has estimated that at its current level of production its variable costs are $70 while its fixed cos
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!