Will firms in a price-taker market be able to earn profits
Will firms in a price-taker market be able to earn profits in the long run? Why or why not? What determines profitability? Discuss.
Now Priced at $10 (50% Discount)
Recommended (96%)
Rated (4.8/5)
Farmers are often heard to complain about the high costs of machinery, labor, and fertilizer, suggesting that these costs drive down their profits
In a price-taker market, if a business operator produces efficiently-that is, if the cost of producing the good is minimized-the operator will be able to make at least a normal profit
When the firms in the industry are just able to cover their cost of production, economic profit is zero. Therefore, if demand falls, causing prices to go down even a little bit, all of the firms in the industry will be driven out of business
Why does the short-run market supply curve for a product slope upward to the right? Why does the long-run market supply curve generally slope upward to the right?
What determines the variety of styles, designs, and sizes of different products? Why do you think there are only a few different varieties of toothpicks but lots of different types of napkins on the market?
Barriers to entry are crucial to the existence of long-run profits, but they cannot guarantee the existence of profits
The demand for resources is a derived demand.” What is meant by that statement? Why is the employment of a resource inversely related to its price?
Why are real wages in the United States higher than in other countries? Is the labor force itself responsible for the higher wages of American workers? Explain.
1948930
Questions Asked
3,689
Active Tutors
1439409
Questions Answered
Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!
Problem: Activity Direction: Identify what goal and scope of counseling is being presented on the situations given then explain your answer.
Evaluate whether psychotherapy treatments have a biological basis? Compare legal and ethical considerations among individual, family, and group modalities
Statement: Cognition and Psychology both play a vital role in our lives and the way we all process and perceive information.
Building on the existing literature that highlights the importance of both cognitive and noncognitive factors like personality traits
The aim of this study is to examine whether intelligence (IQ), extraversion, and conscientiousness all correlate with academic performance
The present study extends this literature by testing whether Conscientiousness remains the strongest correlate of GPA when considered alongside
That is a clear and thoughtful approach to assessing depression, covering onset, frequency, duration, and intensity gives a well-rounded understanding