Answer:
Antitrust laws
Explanation:
Antitrust laws or competition laws are statutes developed by the U.S. government in order to protect consumers from predatory business practices. They ensure that fair competition exists in an open-market economy.
Jamison's gross tax liability is $7,600. Jamison had $2,850 of available credits and he had $4,305 of taxes withheld by his employer. What is Jamison's taxes due (or taxes refunded) with his tax return?
$3,295 taxes due.
$4,750 taxes due.
$445 tax refund.
$445 taxes due.
Answer:
$445 taxes due.
Explanation:
The taxes due or refund by Jamison's shall be determined using the following formula:
Taxes due or refund=gross tax liability-available credits-taxes withheld
If the answer to above mentioned equation is positive then the taxes will be due but if the answer to the above mentioned equation is negative, then the taxes will be refund.
Taxes due/refund=$7,600-$2,850-$4,305
=$445
Since the above answer is positive, it will be $445 taxes due.
When a firm charges each customer the maximum price that the customer is willing to pay, the firm:_______.a) charges the average reservation price.b) engages in first-degree price discrimination.c) engages in second-degree price discrimination.d) engages in a discrete pricing strategy.
The Answer is: A. engages in first-degree price discrimination.
Explanation: First degree happens when a business charges the maximum possible price for each unit of goods consumed.
Brenda kraft has proven herself to be an able manager. her section has a high project completion rate with the highest-quality product and the lowest defects in her division. in addition, she accomplishes this with fewer full-time people than other managers. co-workers say that the secret of her success is in her ability to determine what needs to be done and by whom, and her understanding of the basic "management processes."
Answer:
D) an effective manager
Performing a large number of projects is making a dream come true. Objective-realization is an indicator of a manager's success. "An efficient manager" is misleading because it says nothing about how good Brenda is when performing tasks. Likewise, "a good spokesperson" and "a good resource allocator" are not right, as there is no evidence of Brenda's ability as a knowledge provider (speaker) or decision-maker (resource allocator) in the article.
Paula writes and mails 10 checks per month to pay her bills. Her bank, which charges her 25 cents per check, offers her free use of its bill payment system. If a first-class stamp costs 55 cents, how much can Paula save in a year by using this system?
Paula can save $96 in a year by using this bill payment system.
What is a payment system?This includes debit cards, credit cards, digital finances transfers, direct credits, direct debits, net banking, and e-commerce price structures. Payment systems may be physical or electronic and each has its personal techniques and protocols.
A payment device is any machine used to settle monetary transactions through the switch of economic cost. This includes the institutions, gadgets, human beings, regulations, strategies, standards, and technologies that make its change feasible.
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Paula can save $96.00 annually by using her bank's bill payment system instead of writing and mailing checks.
To calculate how much Paula can save in a year by using her bank's bill payment system, let's break down the costs:
1. Cost of writing and mailing checks:
Paula writes and mails 10 checks per month.
Cost per check for postage: 55 cents (first-class stamp)
Total monthly cost for postage: [tex]\( 10 \times 0.55 \)[/tex] dollars
[tex]\[ \text{Monthly postage cost} = 10 \times 0.55 = 5.50 \text{ dollars} \][/tex]
Cost per check for bank fee: 25 cents
Total monthly cost for bank fees: [tex]\( 10 \times 0.25 \)[/tex] dollars
[tex]\[ \text{Monthly bank fee cost} = 10 \times 0.25 = 2.50 \text{ dollars} \][/tex]
Total monthly cost of writing and mailing checks:
[tex]\[ \text{Total monthly cost} = \text{Monthly postage cost} + \text{Monthly bank fee cost} \][/tex]
[tex]\[ \text{Total monthly cost} = 5.50 + 2.50 = 8.00 \text{ dollars} \][/tex]
Total annual cost:
[tex]\[ \text{Annual cost} = \text{Total monthly cost} \times 12 \][/tex]
[tex]\[ \text{Annual cost} = 8.00 \times 12 = 96.00 \text{ dollars} \][/tex]
2. Cost of using the bank's bill payment system:
The bank offers free use of its bill payment system.
Therefore, there are no additional costs for using the system.
3. Savings by using the bank's bill payment system:
Total annual savings:
[tex]\[ \text{Annual savings} = \text{Annual cost of writing and mailing checks} - \text{Cost of using bill payment system} \][/tex]
[tex]\[ \text{Annual savings} = 96.00 - 0 = 96.00 \text{ dollars} \][/tex]
A _____________ is a probable future payment of assets or services that a company is presently obligated to make as a result of past transactions or events.
Answer is: Liability
Explanation: This includes a past transaction, a future payment for assets/services and a present obligation. A liability can't be reported when the following aren't included.
A liability is a probable future payment of assets or services that a company is presently obligated to make. It represents a debt or obligation that the company owes.
Explanation:A liability is a probable future payment of assets or services that a company is presently obligated to make as a result of past transactions or events. It represents a debt or obligation that the company owes.
For example, if a company borrows money from a bank, the borrowed amount is considered a liability because the company is obligated to repay the loan in the future.
In the context of accounting, liabilities are typically classified on a company's balance sheet under long-term liabilities or short-term liabilities.
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Who was your most difficult customer?
• Give me an example of a time when you did not meet a client's expectation. What happened, and how did you attempt to rectify the situation?
• When you're working with a large number of customers, it's tricky to deliver excellent service to them all. How do you go about prioritizing your customers' needs?
• Tell the story of the last time you had to apologize to someone.
Answer: when I was working at AXA as a Financial Advisor, my most difficult clients or customers are the SKEPTICAL CUSTOMERS ( their ask much questions and always doubt everything you say).
one of the days I never meet a clients need, was the day a client wants to liquidate his money market investment ( it's a fixed account where clients deposit money and expect good returns or interest when ever they want to cash out the money). The clients wants his money immediately, but at that moment we had some Network issue, and claims has to be posted before liquidation can be done. I called the head office to inform them the issue on ground, as they work to rectify it, I took the client to our lounge room, I bought him ice cream and cake, we ate together and I cracked some jokes, we laughed together as we wait for the Network issue to be resolved,
Customers satisfaction is actually difficult when it comes to large number, I always have a note book, to write down appointment and discussions with customers, so it will be easy for me to satisfy everyone according to what we have discussed earlier. When I have much work to do per hour, I have to inform them on how each issue will be treated accordingly, as their patiently wait.
The last time I apologized to someone was few hours ago, I mistakenly stepped on someone's foot in a public transport, I just have to apologize immediately.
Explanation:
The customer is the client of the company and needs to be kept satisfied in order to have profit.
Customer's satisfaction matters for the growth and the development of the company and many matters are related to large organizations. The organizations such as MNC have a large client base and need to meet each and every client expectation. The need to build a goodwill and a mutual understanding.Learn more about the most difficult customer.
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If the demand for a product is inelastic, _________.a. A price decrease leaves total revenue unchanged. b. A price increase leaves total revenue unchanged. c. A price increase causes total revenue to increase. d. A price decrease causes total revenue to increase.
Answer:
c. A price increase causes total revenue to increase.
Explanation:
If the demand for a product is inelastic, a price increase causes total revenue to increase. This is the case because inelastic demand negates the law of demand, which states that the higher the price, the lower the quantity demanded of products and the lower the price the higher the quantity demanded. In the case of inelastic demand, demand does not change with a change in price be it an increase or a decrease. For example under an inelastic demand situation quantity demanded of 20 would remain the same at a price of $5 and when it increases to $7 as such initial revenues at $5 is $100 and at the new price of $7 it increases to $140.
The constraint that states that information disclosed by the entity must have benefits to the user which are greater than the costs of providing it is called:
Answer:
Cost-Benefit Principle.
Explanation:
The constraint that states that information disclosed by the entity must have benefits to the user which are greater than the costs of providing it is called the Cost-benefit principle. Basic logic behind the cost-benefit principle is that any information is not free of cost, all information bears somehow or other some kind of cost associated with it. Companies spend loads of amount to information entering into their logs, statements, financial statements etc. Outside stakeholders want to know about the organisation, how it is performing, what products they are making, whats the company' health in terms of numbers and figures. So company gather all that information for its stakeholders. But here is the main question that whether it makes any logic of getting that information by spending huge amount to make it available for its stakeholders, does this cost can be justified by the benefits coming from those particular stakeholders.
True or False: When a research project includes the collection of biological samples, all planned future uses of the samples, identifiers, and the data obtained from the samples, must be fully explained to the research subject.
Answer:
True
Explanation:
All biological samples and their plans must be fully explained to the research subject.
Final answer:
True, all planned future uses of biological samples and related data in a research project must be fully explained to research subjects as part of the fully informed consent process.
Explanation:
The statement that 'When a research project includes the collection of biological samples, all planned future uses of the samples, identifiers, and the data obtained from the samples, must be fully explained to the research subject' is True. In the realm of research, especially when it involves sociocultural, medical, or clinical studies that include the collection of biological samples, it is crucial that researchers gain written consent from participants. This consent is part of the ethical practice known as fully informed consent, which entails transparent communication about the research's purposes, methods, potential risks, benefits, how the data will be used in the future, and how the participants' privacy will be protected. The possibility of future use of the data and samples, if planned, must be clearly outlined in the consent forms. Furthermore, subjects are often granted rights over the data, including reviewing reports and claiming ownership of the final product and research data. In certain cases, data may be destroyed post-research to prevent future unapproved use.
In the eyes of contemporary consumer behavior researchers, "Consumption" refers to a process in which consumers use up the values of products, services, ideas, or experiences.
True / False.
Answer:
True
Explanation:
According to contemporary consumer behavior researchers, buying decisions are based on sentiments, experiences, and perceived values of product or services.
Carmen operates a franchise tanning salon. Negative publicity about the effects of tanning has diminished her ability to grow the business. Carmen has a(n):________.
a. attractive small firm.
b. micro-business.
c. high-potential venture.
d. lifestyle business.
Answer:
Option "B" is the correct answer to the following statement.
Micro-business.
Explanation:
Micro companies are enterprises with small average revenue and estimated assets as opposed to the other company with fewer workers including the owner. This same effort and dedication have driven many micro-enterprises to expand into bigger companies this makes up the small business market.
The results of this study suggest that the presumed magnitude of negative advertising about the unethical behavior of an enterprise founder is having a detrimental effect on the business's positive image.Suppose that Costa Rica is able to produce 50,000 pounds of coffee or 10,000 medical devices per day; Vietnam is able to produce 40,000 pounds of coffee or 5,000 medical devices per day. Which statement is TRUE?
A. Costa Rica has an absolute advantage in medical device production, while Vietnam has an absolute advantage in coffee production.
B. Costa Rica has a comparative advantage in the production of both coffee and medical devices.
C. Costa Rica has a comparative advantage in coffee production, while Vietnam has a comparative advantage in the production of medical devices.
D. Costa Rica has a comparative advantage in the production of medical devices, while Vietnam has a comparative advantage in coffee production.
Answer:
D) Costa Rica has a comparative advantage in the production of medical devices, while Vietnam has a comparative advantage in coffee production.
Explanation:
A comparative advantage means producing more goods using the same amount of resources, or producing the same amount of goods using less resources.
In this case, Costa Rica produces 1 medical device for every 5 pounds of coffee. While Vietnam produces 1 medical device for every 8 pounds of coffee. Therefore, Costa Rica has a comparative advantage in the production of medical devices versus pounds of coffee.
On the other hand, Vietnam produces 1 pound of coffee for every 1/8 (12.5%) of a medical device. While Costa Rica produces 1 pound of coffee for every 1/5 (20%) of a medical device. therefore, Vietnam has a comparative advantage in the production of coffee versus medical devices.
Final answer:
The true statement is C. Costa Rica has a comparative advantage in the production of medical devices, while Vietnam has a comparative advantage in the production of coffee
Explanation:
The student's question involves understanding the concepts of absolute advantage and comparative advantage in economics. To determine the absolute advantage, we look at which country can produce more of a given product with the same resources. Costa Rica can produce more of both coffee (50,000 pounds vs. 40,000 pounds) and medical devices (10,000 vs. 5,000) per day than Vietnam, indicating that Costa Rica has an absolute advantage in both products.
To determine the comparative advantage, we compare the opportunity cost of producing one good over the other in each country. For Costa Rica, the opportunity cost of producing one medical device is forgoing the production of 5 pounds of coffee (50,000 pounds / 10,000 devices), while for Vietnam, it's forgoing the production of 8 pounds of coffee (40,000 pounds / 5,000 devices).
Since Costa Rica's opportunity cost is lower for medical devices, it has a comparative advantage in medical devices. Conversely, for coffee, Vietnam's opportunity cost of producing coffee is the loss of 1/8 of a medical device (5,000 devices / 40,000 pounds of coffee), and for Costa Rica, it's the loss of 1/5 of a medical device (10,000 devices / 50,000 pounds of coffee). Thus, Vietnam has a lower opportunity cost in coffee production, granting it a comparative advantage in coffee.
A major difference between a joint venture and a partnership is that: a. a joint venture is a one-time association, whereas a partnership is ongoing. b. a partnership is composed of members, and a joint venture is not. c. partners are taxed individually, but joint ventures are not.
Answer:
Option A
Explanation:
A joint venture refers to the business entity formed by two or maybe more partners, distinguished typically by shared ownership, shared profits and hazards and shared management.
Companies usually seek joint ventures for some of four reasons: exposure to a new industry, especially emerging economies; achieve efficiencies in size through sharing resources and procedures; share responsibility for significant investments or initiatives; or gain expertise and capacities.
A partnership refers to the formal agreement to handle and run a business and express its earnings by two or even more sides. There are many kinds of agreements for partnerships. Throughout fact, both partners share obligations and benefits equally in a relationship company, while partners have limited liability in other businesses.
Thus, from the above we can conclude that the correct option is A.
Widget Corp. has launched a new range of smart bulbs with enhanced features. Before developing the product, Widget Corp. conducted a thorough research about customer requirements. The company also studied the quality of its competitors' smart bulbs. Based on these insights, we can conclude that Widget Corp. designed smart bulbs that it feels can be clearly distinguished from other brands. Widget Corp. most likely has a _____. a. sales orientation b. production orientation c. promotional orientation d. market orientation
Answer:
Widget Corp. most likely has a;
d. market orientation
Explanation:
In a competitive market, companies need to be more vigilant to have a large share of the market since there are many companies that are also fighting for the same market share. There are different strategies that can be used to achieve a higher market share, namely;
1. Market orientation: as the name suggests, this strategy aims at putting the business in the direction of the market. In simpler terms, it involves assessing customer and market needs then producing products that fit or satisfy the customer needs. In our case, Widget Corp. after studying the market determined that the current bulbs in the market did not meet customer needs as most customers needed smart bulbs. By designing smart bulbs to align with market needs, Widget Corp gained a market orientation.
2. Sales orientation: sales orientation is a set of business strategy that aims as persuading more people to buy than product rather than meeting customer needs. More emphasis is put on the forces that drive sales like advertising and marketing.
3. Production orientation: is all the activities aimed at building the product value as opposed to what the customer needs.
4. Promotional orientation:promotional orientation aims to grow and advance the product.
Why is it that horizontal analysis is performed only on the income statement and balance sheet, but not on the statement of cash flows? A. When searching for fraud, examining the statement of cash flows is not as effective as comparing actual changes in account balances.B.Horizontal analysis converts balance sheet and income statement to change statements whereas the statementof cash flow is already a change statement.C. The statement cash flow of cash flows does not provide any valuable fraud-related information.D. Horizontal analysis of balance sheets and income statements is relatively easy, while applying the same procedure to the statement cash flows is complicated.
Horizontal analysis converts balance sheet and income statement to change statements whereas the statementof cash flow is already a change statement.
Explanation:
Horizontal analysis (also referred to as trend analysis) is a form of financial analysis that shows improvements over a period of time in the quantities of associated financial statement products. It is a helpful tool for assessing trends. The declarations are used in horizontal analysis for two or more periods.
The horizontal review of financial statements consists of the comparison over several tax years of a revenue ratio, a benchmark or a line item. Such research can be carried out, for example, on profits, operating expenses, investment, assets, capital, equities and liabilities.
________ allows multiple users to use the same computing devices, but determines the individual's privileges based on previously determined permissions, ultimately limiting what users can access.
Answer: Access control.
Explanation:
Access control are restrictions set beforehand to limit users of a
computer network access to certain websites or files in a computer system. Access control is normally set for the sake of increased security of a computer network users and organizations, it can be in the form of: pins, biometric scans and some other forms of user verification.
Which of the following is considered an extent decision? A business manager is considering________ diversifying into a new line of business.
1. shutting down operations.
2. selling an under-performing line of business.
3. trying to assess how many workers to hire for a new line of business.
Answer:
Trying to assess how many workers to hire for a new line of business.(3)
Explanation:
Extent decision is a type of decision regarding how much or how many of a product to produce or resources required for production.
It has to do with making decision regarding relevant cost and revenue.
Bartex, a new company, completed these transactions.
1. Stockholders invested $ 56,000 cash and inventory with a fair value of $ 34,000.
2. Sales on account, $ 22,000.
What will Bartex's total assets equal?
Answer:
$112,000
Explanation:
The computation of the total asset is shown below:
= Cash balance + inventory balance + account receivable
= $56,000 + $34,000 + $22,000
= $112,000
Since the cash is invested so cash is a part of the total asset plus the inventory is also a part of total asset
And the sales are made for an account so it is on a credit basis and the same is recognized as an account receivable
To provide better service for their customers, America Online purchased office space in India for their online customer service representatives. This is an example of:______________
Answer:
Foreign Direct Investment
Explanation:
For an investment to be called a foreign direct investment, a business in one country must purchase a form of controlling ownership in another business which is located in another country. Mergers and acquisitions, opening a new facility in another country, or purchasing properties in another country for the purpose of doing business is called FDI. In the question, America Online purchases office space in India; this is purely an example of Foreign Direct Investment.
Final answer:
America Online's purchase of office space in India for customer service is an example of offshoring, which allows access to cheaper labor markets as part of the globalization process. India's educated workforce and proficiency in English make it an attractive destination for business process outsourcing (BPO) services.
Explanation:
To provide better service for their customers, America Online purchased office space in India for their online customer service representatives. This is an example of offshoring. Offshoring is the process of moving some of a company's operations overseas to access cheaper labor markets. A large number of educated, English-speaking young people have positioned India as a prime location for global outsourcing for customer and business process outsourcing (BPO) services, primarily due to lower employment costs, proficiency in English, and a skilled workforce. Outsourcing, on the other hand, involves hiring outside contractors, sometimes abroad, to perform tasks a company once performed internally.
The transformation of India into a 'back office' hub for global outsourcing, especially in the context of information technology and BPO services, is a direct outcome of these economic trends. American and European corporations find India attractive for outsourcing activities not only for the cost benefits but also because India offers a growing educated workforce that accommodates their service requirements.
More broadly, outsourcing and offshoring are part of the larger framework of globalization, a process driven by international trade agreements and advances in technology, which allows companies to move parts of their business to countries such as India, where they can minimize operational costs.
the difference between money coming into a country from exports and money leaving a country due to imports, plus money flows from other factors, is known as the:
a. balance of trade
b. balance of payments
c. free trade
d. trade deficit
Answer:
Balance of payments (BOP)
Explanation:
The balance of payments is referred to details of the transaction that held between two entities either in the same country or outside the country of a particular time period.
when the transaction was done for another country, there is a deduction of credit from the balance of payment and when transaction was done for the same country then credit is added to the BOP
Eliminating waste, selling products that are produced with sustainable methods, and installing natural power generation illustrate what approach to achieving a competitive advantage and creating value?
a. a purely economic approach.
b. a "green" or environmentally sustainable approach.
c. a knowledge-based approach.
d. a politically correct approach.
Answer:
option "C" is the correct answer for the following statement.
A knowledge-based approach.
Explanation:
The Knowledge-Based Approach. Information-Based Training is a method that includes trying to adapt hypotheses, knowledge, and customs from a wide range of scientific fields and implementing them whenever suitable for the training engagement.
There were several benefits to portraying information directly through rules: Development and preservation.
Explaining. Purpose.You're serving on a marketing team for an online client, and you've been asked to create a list of key performance indicators (KPIs) to help improve the effectiveness of a current online ad campaign. What are two guiding principles that will help you create these KPIs? (Choose two.)
Answer:
You're serving on a marketing team for an online client, and you've been asked to create a list of key performance indicators (KPIs) to help improve the effectiveness of a current online ad campaign. What are two guiding principles that will help you create these KPIs?
There must be an alignment between the objectives and the mission of such organization marketing team
Also such key performance must revolve round the budget planning of the team
Explanation:
Marti purchased 100 shares of Better Foods stock on margin at a price of $49 a share. The initial margin requirement is 60 percent and the maintenance margin is 30 percent. What is the lowest the stock price can go before Marti receives a margin call?
Answer:
Explanation:
100shares*$49*0.6= 4900*0.6=$2940
0.3=(100*Price-2940)/100*Price
30Price=100Price-2940
70Price=2940
Price=$42
The lowest stock price at which Marti would receive a margin call is $75.
Explanation:To calculate the lowest stock price at which Marti would receive a margin call, we need to consider the initial margin requirement and the maintenance margin. The initial margin requirement is the minimum amount that Marti must contribute to purchase the stock on margin, which is 60% of the stock price. In this case, the initial margin would be 0.6 * $49 = $29.40 per share. The maintenance margin is the minimum level of equity that Marti must maintain in the account, which is 30% of the stock price. If the equity in Marti's account falls below the maintenance margin, the broker will issue a margin call. Considering this, let's calculate the lowest stock price:
Therefore, the lowest the stock price can go before Marti receives a margin call is $75.
Partly as a result of this diversification, the economy of the state of Texas has fared better than most during the recent recession. This diversification has been crucial in weathering fluctuations in the energy sector.
Answer:
welcoming high-tech industry.
Sheffield borrowed $701000 on October 1, 2017 and is required to pay $721000 on March 1, 2018. What amount is the note payable recorded at on October 1, 2017 and how much interest is recognized from October 1 to December 31, 2017?
Answer:
On October 01, 2017
The amount actually borrowed that is $ 701,000 will be recorded as liability/note payable on october 01, 2017. The following accounting entry will be passed
Debit Cash Asset $ 701,000
Credit Note payable $ 701,000
Interest recognized from October 1 to December 31, 2017
The premium amount paid on redemption will be recorded as interest over the period of time. The interest amount is
Interest = 721,000 -701,000 = $ 20,000
So this above calculated expense will be recognized as an expense over loan period.
Dan missed class the day the professor covered the circular flow model. Dan asked his friend Joan to explain markets to him. Joan correctly stated that a market _______.A) must include a written contract between buyers and sellers.B) requires a physical location for buyers and sellers to get together.C) must have many buyers and only one seller, who is willing to sell to all the buyers.D) is only a place to purchase groceries.E) is any arrangement that brings buyers and sellers together.
Answer:
is any arrangement that brings buyers and sellers together.
Explanation:
A market refers to any place where two or more people gather with the intention of conduction economic transactions. It is any place that facilitates the exchange of goods and services between people. A market brings together buyers and sellers of a particular product or various products.
A market can be a physical location where buyers and sellers meet face to face. It can be a virtual place such as through the internet where there is no physical contact. Markets are not restricted to transactions by legal tender. A place where the exchange of goods and services is through barter trade or other media acceptable to the buyer and seller is a market.
Markets can take different forms depending on their specialty. For example, the securities market deals with stocks and securities. A market may also refer to a group of buyers or potential buyers of a particular product.
Frost Enterprises buys a warehouse for $ 510,000 to use for its East Coast distribution operations. On the date of the purchase, a professional appraisal shows a value of $ 610,000 for the warehouse. The seller had originally purchased the building for $ 485,000. Frost has a similar warehouse on the West Coast that has a book value of $ 526,000. Under the historical cost principle, Frost should record the building for:_______.A. $580,000.B. $630,000.C. $594,000.D. $525,000.
Answer:
$510,000.00
Explanation:
Since the historical cost principle states that business must account and record most assets at their purchase or acquisition price which means the data put into record on the balance sheet would reflect amount paid for asset.
That is why it is $510000.
One contributor to the easy with which young entrepreneurs can have success is low-cost distribution to massive markets worldwide. This is enabled by?
Answer:
app stores
Explanation:
An App Store refers to the digital storefront designed to enable the check and study of digitally offered software titles or other media for sale. Analytically, the storefront application itself offers a safe, standardized experience that simplifies the acquisition, decoding, and configuration of software packages or any other electronic media.
Usually, app stores arrange the applications they sell on the basis of: the function(s) offered by the app (including gaming, graphics or productivity), the platform the app was built for and the operating system upon which app will be working.
When firms exit a market, the _________, causing individual firms’ profits to _________.
short-run market supply curve shifts right; increase
short-run market supply curve shifts left; increase
long-run market supply curve shifts right; decrease
short-run market supply curve shifts left; decrease
Answer:
Long run supply curve shifts to the left; decrease
Explanation:
In the short run, if firms are making economic loss, in the long run, they exit the industry. Firms cannot exit the industry in the short run because in the short run most factors of production are fixed.
When firms exit the industry, the quantity supplied falls and the supply curve shifts to the left. Because of the fall in supply, prices rise, revenue and profit rise all things being equal.
I hope my answer helps you
Answer:
When firms exit a market, the short-run market supply curve shifts left, causing individual firms’ profits to increase.
Explanation:
The process of free entry and exit of firms is in a sequence as explained under-
If there is higher demand in the market of the product as compared to its supply, then each firm in the market will receive higher price for its product. This will increase the prices of the product, enabling higher profits for each firm. This will make the industry attractive, enabling the introduction of newer firms in the market. When the new firms enter the industry, the prices of the product in the market will drop due to higher competition, now present currently. This will lead to lowering of profits for the firms in the industry.This will make the industry non-attractive and thereby the less competitive and less effective firms will exit the market in the short run.This exit of firms from the industry, will lead to higher prices again due to less supply of product in the market as compared to its demand. Hence, the profits of the firms present in the industry will increase.Thus, it can be concluded that when firms exit a market, the short-run market supply curve shifts left, causing individual firms’ profits to increase.
Pagent, a company that manufactures watches, introduces a new range of watches with a safety application programmed into it. This application is designed especially for women and helps them alert people in case of danger. In the context of innovation streams, which of the following concepts does this scenario best illustrate?
Answer:
A technological discontinuity
Technological discontinuity could be described as a' breakthrough innovation advancing the state-of- the-art technological order that characterizes an industry'