Reference no: EM13825473
Questions-
1. In the long run, if firms make a normal profit, then new entrants would be encouraged to move into the industry.
A) True
B) False
2. If Big Time Utilities wins a patent for a nuclear mini-power plant that enables it to become the monopoly provider of small generators, the resulting industrial structure leads to:
A) a loss in consumer surplus.
B) a gain in consumer surplus.
C) no change in consumer surplus.
D) a loss of comparative advantage.
3. Companies in the ABC industry are enjoying short-run economic profits. The number of units sold has recently been increasing. This increase is due to:
A) only existing firms expanding production.
B) only new sellers entering the market.
C) both existing companies expanding and new sellers coming into the market.
D) government entering the market.
Additional Information-
These multiple choice questions related to Economics. The first problem is about firms making normal profits in the long run would motivate new entrants into entering the industry, the second problem is about winning a patent and becoming a monopoly and the third problem is about sales increasing the short run and the firms enjoying short run economic profits.
|
How a legal memorandum looks like
: Before the Statement of Facts, sometimes it is appropriate to include a brief introduction that explains why the writer has been asked to produce the memo or which provides some background information.
|
|
Find an app that uses device capabilities to provide product
: Find an app that uses device capabilities to provide a product that previously couldn't exist. Explain what makes this app important or innovative.
|
|
Uses the double-declining-depreciation method
: On 2010 July 1, Frick Company purchased equipment for $400,000, and installation and testing costs totaled $40,000. The equipment has an estimated useful life of 10 years and an estimated salvage value of $40,000. If Frick uses the double-declining-d..
|
|
Prepare the manufacturing statement for company
: Use the following information to prepare the manufacturing statement for Forsythe Company for the month ended June 30.
|
|
Make normal profits in the long run would motivate entrants
: These multiple choice questions related to Economics. The first question is about firms making normal profits in the long run would motivate new entrants into entering the industry
|
|
Net realizable value of receivable appearing balance sheet
: On January 1, 2014, the Accounts Receivable and the Allowance for Uncollectible Accounts for Darius Company carried balances of $20,000 and $550 respectively. During the year, the company reported $70,000 of credit sales. There was $400 of receivable..
|
|
Under the accrual basis of accounting
: Fox Auto sold merchandise to a customer for $3,000 on credit on March 10. The customer paid Fox Auto the amount due on March 31. Under the accrual basis of accounting, Fox Auto will recognize the revenue on March 31. The March 10th..
|
|
Caselet: katsand wines
: Caselet: Katsand Wines
|
|
Prepare statement of retained earnings for the year ended
: Powder Corporation began operations on January 2, 2013, with a total investment of $150,000 by its stockholders. Net income for its first year of business was $90,000. During 2014 and 2015, net income increased to $188,000 and to $217,000, respective..
|