Explain various markets and how they work to your friend so your friend will be able to run the company.

Q: In the long run

A: In the long run firms get more power to change inputs.

Q: Price Quantity Marginal Cost 60 1 30 55 2 30 50 30 45 4 30 40 30 35 30

A: A profit maximizing firm should produce up to that level of output where price = marginal cost. If…

Q: Company is artificial legal person. How does it achieve the status of artificial legal personality…

A: Economics is a subject that was developed in order to allocate scarce resources in an efficient…

Q: What is the principal advantage of the corporate form of business organization? Discuss the…

A: * ANSWER :-

Q: See the graph below, Label and Describe in terms of : A. Name of Market Structure B. Ability to…

A: Anser is given below

Q: Information  about Competitive market

A: Perfect Competition(PC) is the structure of a market where all the producers produce similar and…

Q: A competitive market system is efficient. Discuss and explain this statement in detail. Your answer…

A: Macroeconomics is a part of economics that deals with production, decision and allocation concerning…

Q: (11) Capital is a factor of production that has been produced for use in the production of other…

A: Answer: (11). Correct option: option (b) (airports) Explanation: the airport helps in the movement…

Q: Small “Mom and Pop" firms sometimes exist even though they do not earn economic profits. How can you…

A: Small “Mom and Pop" firms sometimes exist even though they do not earn economic profits. The…

Q: use relevant diagrams as well as microeconomic theory, discuss why competitive firms stay in…

A: In the long run, a firm in a perfectly competitive market will only make a normal profit(zero…

Q: Question attached

A: A stock exchange allows stock brokers to trade other securities as well as company stocks.

Q: If scientific research produces a technological breakthrough in the production of computer memory,…

A: Hey, Thank you for the question. According to our policy, we can only answer 1 question per session.…

Q: Why do economists believe that economic profit is the more accurate measure of a business success?…

A: Accounting profit only considers the cost that has actually happened, but economic profit considers…

Q: Few sentences on the response please. Imagine you own your own business. Based on what you learned…

A: The profit of the market induced new firms to enter the market while the continuous entry of new…

Q: Many firms in the United States file for bankruptcy every year, yet they still continue operating.…

A: The costs of production include both the fixed costs as well as the variable costs. The fixed costs…

Q: An accountant and an economist are looking at a firm’s records and market situation. The accountant…

A: The money spent to purchase the factors of production to purchase the goods is termed as the cost of…

Q: Why would a profitable for-profit organization choose to exit a line of business

A: A for-profit firm or organization is described as an entity that mainly generates profit more than…

Q: How would a pizzeria in a densely populated area with 20 to 50 competitors thrive in a pure short…

A: The pizzeria could thrive in short run than long run, because of several factors. In short run, it…

Q: What type of product by individual firms (none, total, some etc) are in a perfect competition and…

A: Perfect competition is a market structure in which all producers and consumers have complete and…

Q: true or false The rational and profit maximizing firm will choose to operate in Stage 1 or Stage 2…

A: Total product is defined as the total amount of output produced by employing given amount of input.…

Q: What type of organization is appropriate in the competitive business environment?Please explain with…

A: Competitive business environment:-  A competitive environment can be explained as a framework…

Q: which economist profounded the innovation theory of the profits in economics

A: According to the given question In simple words we can say that innovation theory of the profits is…

Q: Long-run equilibrium in perfectly competitive markets meets two important conditions: allocative…

A: Answer- Need to find- Long-run equilibrium in perfectly competitive markets meets two important…

Q: Small “Mom and Pop firms,” like inner city grocery stores, sometimes exist even though they do not…

A: “Mom and Pop firms” is a small independent business entity where the ownership and operations are…

Q: Your best friend has an idea for a long-distancecar service to drive people across the…

A: People prefer rail, or airplane service for the long-distance journey as it is an efficient…

Q: If you're a manager in a highly competitive business such where should you put your most effort to…

A: As a manager ,the primary responsibility is to look in the profits of the business. Business can be…

Q: Many firms, especially in perfectly competitive markets, file for bankruptcy every year, yet they…

A: Firms will shut down when their cost exceed revenue and they cannot continue to compete in the…

Q: When will a business shut-down in the short-run?

A: Short-run: - it is a short time period in which some factors of production are variable and some are…

Q: Match the Product with whether production should be centralized or decentralised Soap [ Choose ]…

A: Centralized production refers to the production process exist with upstream and decision about…

Q: Give an example in the marketplace that describes the principles of the free market (perfect…

A: Prices of goods in competitive market are determined by free market forces of demand and supply.…

Q: Why do managers make bad decisions?

A: Managers and leaders are simply human, and people aren't ideal decision-makers, so anticipate a…

Q: Which 'Economies of Scale' creates imperfect competition and Why?

A: Economies of scale refers to a situation where there is fall in per unit output of average cost with…

Q: Many firms in the United States file for bankruptcy every year, yet they still continue operating.…

A: Filling for bankruptcy does not mean that the firms have to shut down. In the US the bankruptcy laws…

Q: Can you give examples of companies with perfect competition?

A: The markets refer to the place where the buyers, and sellers interact. In the markets, the sellers…

Q: Stock of a commodity is the: (a) Total quantity that is available in a market at a certain time (b)…

A: option a is the correct answer a) Total quntity that available in the        market at certain time…

Q: In the long run, in a competitive economy, companies use resources until the extra or marginal…

A: (Q) In the long run, in a competitive economy, companies use resources until the extra or marginal…

Q: Many people believe that businesses that commit fraud cannot last long because  (a) the government…

A: Businesses engage in the production and distribution of their goods and services to earn profit.…

Q: provide an economic explanation for the provided text below  While on vacation, you go to a…

A: The total cost of the firm is divided between the fixed cost and the variable cost. The firm will…

Q: Using the tools of economic analysis that you learned, analyze the behavior of the enterprise…

A: Introduction Perfect competition is a market where large no. of firms producing homogeneous products…

Q: why competitive firms stay in business if they make zero profit?

A: First it should be clear that zero economic profit means that total Total Revenue is equal to the…

Q: Which statement is true? a. Socio-cultural factors do not determine the goods that society is likely…

A: socio-cultural factors are the factors that effect the consumers choices and tastes and they effect…

Q: Evaluate and explain the following statement: The market system is a profit-and-loss system.

A: ‘Market’ refers to a place where goods are bought & sold. The goods are bought & sold at…

Q: Comparison between Pure competition and the perfect competition in market structure of the economy?

A:

Q: The correct answer to whether it should be produced is that the firm should produce in the short…

A: The decision of whether a good should be produced further depends on price and average variable…

Q: How do firms or business in a competitive market decide what prices are and how does the economy…

A: Competitive market: - it is a market condition where there are many buyers and many sellers in the…