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MrMuchimi
2 years ago
11

each of the statements shown is characteristic of a phase in the development of a competitive market industry. please classify e

ach statement as a cause of firms exiting the market, the number of firms in the market remaining stable, or firms entering the market.
Business
1 answer:
Alja [10]2 years ago
6 0

Firms would exit the market in the following circumstances:

  • Price is less than average cost
  • Firms post an economic loss.

The market would remain stable in the following circumstances:

  • No firms earn economic profit

Firms would enter the market in the following circumstances:

  • Price is greater than average cost.
  • Firms earn both economic profit and accounting profit.

A competitive market industry is characterised by many buyers and sellers of identical goods and services. Market price is set by the forces of demand and supply.

In the long run, firms would earn only accounting profit. If a firm earns economics profit in the short run, firms would enter the industry in the long run. This would reduce economic profit to zero.

In the short run if firms earn economic loss, in the long run, firms would leave the market. As a result, economic profit would rise to zero.

Find attached an image of the options. To learn more, please check: To brainly.com/question/22698976

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If the price of a product increases, then the budget line rotates and the optimal quantity demanded, which corresponds to the hi
Hoochie [10]

Answer:

Budget Line rotates inwards (leftwards/ downwards) on that axis, optimal quantity demanded at that higher price .

Explanation:

Budget line represents product combinations that a consumer can afford , using all income with given prices & income.

If price of a product increases, the consumer can consume lesser amount of the product due to higher prices . So, the budget line rotates inwards (leftwards / downwards) on the corresponding x / y axis denoting that good.

So, inwards rotation of the budget line on the corresponding axis representing the price risen good - leads to reduction in the quantity of the good whose price has risen.

7 0
3 years ago
The American Eagle chain of retail stores has a reputation as one of the "coolest" brands according to Teen Research Unlimited.
katovenus [111]

Answer:

(a) Men and women aged 16 to 22

Explanation:

The teens nitch is defined from 13 to 19 years old, therefore the youngster in the age from 16 to 22 is the optimal market for American Eagle.

3 0
3 years ago
The equality-efficiency trade-off suggests that a. welfare programs stimulate incentives to work. b. inefficiencies result when
soldi70 [24.7K]

Answer:

The correct answer is letter "B": inefficiencies result when incentives to produce are reduced.

Explanation:

Equity-efficiency tradeoff takes place when attempting to optimize the production efficiency, distribution of wealth is diminished. The concept is always linked to moral philosophy because it implies taking about how people organize themselves in the way to produce and share their goods in a fairly. According to this point of view, when there is not enough motivation to produce inefficiencies arise.

7 0
3 years ago
Which term describes the individual use of products that can lead to externalities?
gulaghasi [49]

The term which describes the individual use of products that can lead to externalities is "consumption externalities."

<h3>What is consumption externalities?</h3>

There may be possible costs and advantages experienced by other parties who were not engaged in a transaction that when an individual investor or party engages in some transaction, such as using a good or service. They are referred to as externalities.

There are two types of externalities, which are-

  1. The positive externality is really an unintended advantage gained by a third party as a result of the creation or use of a commodity by another party. Positive externalities show that the societal advantages of creating or consuming products outweigh the individual advantages to third parties.
  2. The negative externality would be an indirect expense incurred by a third party as a result of the creation or use of a product by another party. Negative externalities show that the societal costs are greater than the private costs to third parties.

To know more about externalities, here

brainly.com/question/14018373

#SPJ4

4 0
2 years ago
If there is a basic conflict between the individual's expectations and the reality of working in an organization, the employee i
ANTONII [103]

Answer:

C) encounter

Explanation:

The socialization process is the process of learning to be a part of society and individual learning by understanding social norms, values, and expectations of the society to be a productive member of society.

Encounter stage of socialization is the stage at which individuals enter the corporate for the first time and realized how well expectations is matching the reality within the corporate culture. It is the time to control the emotion and learn to be part of organization.

8 0
3 years ago
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