the notion of opportunity cost can be represented graphically by thea. horizontal distance from the vertical axis to the production possibilities frontier.b. area inside the production possibilities frontier.c. sum of the horizontal and vertical distances to the production possibilities frontier.d. slope of the production possibilities frontier.e. vertical distance from the horizontal axis to the production possibilities frontier.
Answers
The notion of opportunity cost can be represented graphically, by the vertical distance from the horizontal axis to the production possibilities frontier.
Opportunity cost increases as we move along the PPF from left to right, indicating that more of one good must be given up to produce additional units of the other good.
Opportunity cost can also be represented graphically by the vertical distance from the horizontal axis to the production possibilities frontier. The vertical distance between two points on the PPF represents the opportunity cost of producing more of one good and less of the other good. It measures the amount of one good that must be sacrificed to produce an additional unit of the other good.
The production possibility frontier (PPF) is a graph that displays the different possible combinations of two goods a firm or an economy can produce given the resources and technology available. The slope of the PPF represents the opportunity cost, which is the value of the next-best alternative foregone.
In conclusion, option E is the correct answer.
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Related Questions
Explain what OSHA is, its purpose, and what responsibilities there are under the law. Additionally, explain how it can be violated, and the penalties for any violation.
Answers
OSHA stands for the Occupational Safety and Health Administration. It is a federal agency in the United States that operates under the Department of Labor. OSHA's primary purpose is to ensure safe and healthy working conditions for employees by setting and enforcing workplace safety standards.
Under the law, employers have several responsibilities:
Providing a safe workplace: Employers are required to provide a workplace free from recognized hazards that could cause serious harm or death to workers. This includes providing necessary safety equipment, training employees on safety procedures, and maintaining a hazard-free environment.
Complying with OSHA standards: Employers must comply with the specific safety and health standards set by OSHA for their industry. These standards cover a wide range of areas, such as machinery safety, hazardous materials handling, ergonomics, and more.
Keeping records: Employers are required to keep records of work-related injuries and illnesses, maintain logs of incidents, and report severe injuries or fatalities to OSHA.
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What is the interest earned in a savings account after 12 months on a balance of
$2500 if the interest rate is 1% APY compounded yearly?
interest = $ [?]
Round your answer to the nearest hundredth.
Answers
The interest earned in the savings account after 12 months on a balance of $2000 if the interest rate is 1% APY compounded yearly is $20.
Given,
Initial amount = P = $2000
Interest rate = 1% annually
The time for which interest is compounded = 12 months = 1 year = T
Here, the initial amount (also called as principal amount) is P, and the interest rate is R% per unit time, and it is left for T unit of time.
So, the interest amount earned is given by:
\(CI = P(1+\frac{R}{100} )^{T} -P\)
\(CI = 2000 (1+\frac{1}{100} )^{1} -2000\\\\CI = 2000 * 1 / 100\\\\\)
=$20
Hence, the interest earned in the savings account after 12 months on a balance of $2000 if the interest rate is 1.5% APY compounded yearly is $20.
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If you have a professional e-mail address, it should always be included on your résumé.
a. True
b. False
Answers
The correct answer is "true." A professional email address is an email address that reflects the name of the business, such as [email protected]. It is also a great way to increase brand recognition and authority.
When emailing clients or contacts, having an email address that matches the company's name is a great way to establish trust.
A resume is a document that provides a brief summary of your skills, experience, and education. It is frequently used to apply for employment or postgraduate education. A resume should contain your full name, phone number, e-mail address, professional experience, and education. When creating your resume, it's critical to be concise and specific. Always tailor your resume to the job you're applying for. Your goal is to persuade the recruiter that you are the ideal candidate for the job. You can always include a cover letter with your resume to provide more information about yourself and why you're interested in the job.
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Elaine Chambers works as a research executive at ENVIR Inc Though her colleagues are belpful and friendly, because of her shy nature, she often eats her lunch at her desk and has limited interactions with them. She is glad that her nature of work does not require her to interact with her co-workers to a high extent Hilaine's personality is characterized by the Myers Briggs Type Indicator referred to as
A) reserved
B) introverted
C) extroverted
D) agreeableness
E) Conscientes
Answers
Answer:
The answer is B she's an introvert, a person who's more reserved in nature than other people.
Because of rising environmental and social costs of economic activity, the gap between the GDP and GPI/ISEW has ______
a. Increased.
b. Decreased
Answers
Due to the increasing environmental and social costs associated with economic activity, the gap between GDP and GPI/ISEW has increased over time.
The Gross Domestic Product (GDP) is a widely used measure to gauge the economic performance of a country. However, it primarily focuses on the monetary value of goods and services produced within a given time period, disregarding the social and environmental impacts of economic activities. On the other hand, the Genuine Progress Indicator (GPI) or the Index of Sustainable Economic Welfare (ISEW) takes into account factors such as income distribution, environmental degradation, and social well-being.
As awareness about the negative consequences of unsustainable economic practices has grown, so too has the recognition of the need for more comprehensive measures of progress. The rising environmental costs, including pollution, resource depletion, and climate change, as well as social costs such as inequality, loss of biodiversity, and social unrest, are not adequately captured by GDP alone.
Therefore, the gap between GDP and GPI/ISEW has increased over time. This is because the true costs of economic activities, including the depletion of natural resources, environmental degradation, and social inequalities, are not fully reflected in GDP. The growing recognition of these costs has led to the development and use of alternative indicators like GPI/ISEW to provide a more holistic assessment of economic progress and well-being. These alternative indicators highlight the need for sustainable and inclusive economic development that takes into account both social and environmental factors.
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what is meant by recession
Answers
Answer:
Spatial recession in paintings is the relationship between objects which appear to lie near to the observer and those which seem further away, and thus recede into space. ...
Explanation:
Career Cluster
If your dream is to be an elementary school teacher, the
might be best for you.
A. Education and Training
B. Human Services
C. Health Sciences
D. Training and Instruction
Answers
Answer: A
Explanation
A mutual fund had NAV per share of $23.00 on January 1, 2016. On December 31 of the same year, the fund's NAV was $23.15. Income distributions were $0.63, and the fund had capital gain distributions of $1.26. Without considering taxes and transactions costs, what rate of return did an investor receive on the fund last year
Answers
The rate of return did an investor receive on the fund last year is : 8.87%.
Rate of returnUsing this formula
Rate of return=(Dec fund's NAV -Jan fund's NAV +Income distribution+Capital gain distribution)/Jan fund's NAV
Let plug in the formula
Rate of return = ($23.15 - $23.00 + $.63 + $1.26)/$23.00
Rate of return =$2.04/$23.00×100
Rate of return = 8.87%
Therefore the rate of return did an investor receive on the fund last year is : 8.87%.
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Curtis invests $475,000 in a city of Athens bond that pays 6.75 percent interest. Alternatively, Curtis could have invested the $475,000 in a bond recently issued by Initech, Incorporated that pays 8.25 percent interest with similar risk as the city of Athens bond. Assume that Curtis's marginal tax rate is 24 percent. How much explicit tax would Curtis incur on interest earned on the Initech, Incorporated bond
Answers
Curtis is going to receive interest from the Initech, Incorporated bond, so he must pay tax on it. The explicit tax is the tax that Curtis is obligated to pay on the bond's interest. It's calculated as a percentage of the interest income generated by the bond.
The explicit tax is determined by multiplying the interest generated by the bond by the tax rate. Given, Curtis invests $475,000 in a city of Athens bond that pays 6.75 percent interest. Alternatively, Curtis could have invested the $475,000 in a bond recently issued by Initech, Incorporated that pays 8.25 percent interest with similar risk as the city of Athens bond.
Assume that Curtis's marginal tax rate is 24 percent. We are required to calculate how much explicit tax Curtis would incur on interest earned on the Initech, Incorporated bond.
The explicit tax that Curtis would have to pay on the Initech, Incorporated bond can be calculated as follows;The interest generated by the Initech, Incorporated bond is: Interest = (475,000 × 8.25) / 100 = $39,187.50 Curtis' marginal tax rate is 24%, so the explicit tax would be:Explicit tax = (24/100) × 39,187.50 = $9,405.00.
Therefore, the explicit tax that Curtis would have to pay on interest earned on the Initech, Incorporated bond is $9,405.00.
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Technician A says that an air chisel is used to dress welds.
Technician B says that paintless dent repair (PDR) tools can be used to remove small dents.
Who is right?
O A only
O Bonly
O Both A and B
Neither Anor B
Answers
Answer:
B
Explanation:
Technician B is right a pdr can be used to remove dents
According to statement, technician b only is correct. Technician B says that paintless dent repair (PDR) tools can be used to remove small dents. Thus, option (b) is correct.
What is Technician?
The term technician is details of a subject or occupation, a computer technician.
Technician is work of repair and expert of work. It is easily handle problem and resolve solution.
As a result, option (b) is correct.
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An opportunity cost is the
value of the best alternative given up
value of all alternatives given up
O value gained by your top choice
NAIS QUESTION
ASK FOR HELP
Answers
Answer:
value of the best alternative given up
Explanation:
Opportunity cost is the benefits forfeited for deciding against a certain option. Opportunity cost arises due to scarcity of resources forcing people to make decisions. When making decisions, one has to choose between different alternatives. Naturally, one would go for the best out of the available options.
The other alternatives not selected have their benefits too. The gain from the alternative ranked second is the opportunity cost.
Answer: value of the best alternative given up
Explanation:
The owner of Leonardo's Pizza recently decided that Gainesville was too small for his business; he needed to expand. He has decided to open a new pizza parlor in Trenton so new people will be exposed to his famous pizzas, which until recently had only been enjoyed by the lucky people who live in Gainesville. Leonardo is trying to extend the life cycle of his brand so he can be in business for a very long time. Which strategy is Leonardo using to do this
Answers
Answer:
Market Development
Explanation:
From the question we are informed about The owner of Leonardo's Pizza who recently decided that Gainesville was too small for his business; he needed to expand. He has decided to open a new pizza parlor in Trenton so new people will be exposed to his famous pizzas, which until recently had only been enjoyed by the lucky people who live in Gainesville. Leonardo is trying to extend the life cycle of his brand so he can be in business for a very long time. In this case, Leonardo using Market Development strategy
Market development can be regarded as growth strategy which involves identification as well as development of new market segments for current products. market development strategy base it's targets on non-buying customers as regards the currently targeted segments. There is also a plan for new customers in new segments. It is another way of expanding sales.
Which company is expecting to gain the majority of its returns on new investments?
Answers
Phillips Petroleum is expecting to gain the majority of its returns on new investments.
What is investment?Investment is the dedication of a resource to achieving a value rise over time. A current item, such time, money, or effort, must be sacrificed in order to invest. The goal of investing in finance is to profit from the asset that is being financed. Your investing style and method of choice are determined by your investing personality. Your financial risk profile, which takes into account your age, financial background, current situation, and investment objectives, essentially sums up your investing personality. Investment assets include both tangible and intangible goods that are acquired for the purpose of generating additional income or held for speculation in the hope that their value will rise in the future.Learn more about investment here:
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'The failure or success of any business depends on marketing management '. Do you agree to this statement? Give your arguments.
Answers
Answer:
Yes
Explanation:
Because if the marketing managment wasn't strong the business will fail but if the marketing managment is strong preety sure it will be successful
Firms A and B plan to collude in an economy for their similar products, which includes the grim strategy for punishment. They plan to set the price of their product at $8. The marginal cost of Firm A is $5 and Firm B is $4.50. If firm A is impatient to earn more profits and Firm B wishes to last in the business for the long-run, which of the following situations would likely occur? A. Firm B reduces the price to $7 causing Firm A to exit the market. B. Firm B reduces the price to $7 causing Firm A to reduce its price to $7. C. Firm A reduces the price to $7 causing Firm B to reduce its price to $4.50. D. Firm A reduces the price to $7 causing Firm B to exit the market.
Answers
Answer: C. Firm A reduces the price to $7 causing Firm B to reduce its price to $4.50.
Explanation:
Since firm A is impatient to earn more profits and Firm B wishes to last in the business for the long-run, then Firm A will reduce the price to $7 causing Firm B to reduce its price to $4.50.
Since Firm A reduces the price to $7, this will lead to an increase in the quantity demanded of the product and therefore the firm can earn more profit. On the other hand, firm B will reduce its price to a point where the price meets the marginal cost which is $4.50.
(1.04) This is an itemized summary of probable income and expenses for a given period.
oBank Account
oInterest bearing account
o Budget
o Lottery
Answers
please help, this is very simppleee!! ^^
Thomas is a broker who works at a large investment firm. His job is to research different stocks and make recommendations to his customers on which ones they should invest in. Which career cluster would Thomas’s job fall under?
A) Finance
B) Business management
D) STEM
*Pls don't scam me for points!!
Answers
Finance, career cluster, would Thomas’s job fall under. Thus, option (a) is correct.
What is job?
A “job” is a designation for working for a specific business. An opportunity for career advancement arises from the job. One could increase their income and gain experience by working. The job was the source of the income. They are the based on the earnings are the career cluster.
According to the Thomas’s job fall under are the based on the finance. It was the largest investment in the firm are the research are the stocks on the recommendations of the customer. It was the investing company are the related to the finance.
As a result, the finance, career cluster, would Thomas’s job fall under. Therefore, option (a) is correct.
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Current interest rates on one-year bonds are
averagely 15%. If the markets expect interest rates on
one-year bonds next year to be 16. 5%, what should be
the expected return on a two-year bond?
Answers
The expected return on a two-year bond is 15.75%.
It should be the average of the current interest rate and the expected interest rate for next year. This can be calculated by adding the current interest rate of 15% and the expected interest rate of 16.5% and then dividing by 2.
Using the formula:
Expected return = (Current interest rate + Expected interest rate for next year) / 2
Expected return = (15% + 16.5%) / 2
Expected return = 31.5% / 2
Expected return = 15.75%
Therefore, the expected return on a two-year bond should be 15.75%.
It is important to note that this is just an estimation and actual returns may vary based on changes in interest rates and market conditions.
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according to the theory of charismatic or transformational leadership developed by house and his colleagues, identify the ways in which charismatic leaders motivate their followers
Answers
In accordance to theory of charismatic or transformational leadership developed by House and his colleagues, the ways in which charismatic leaders are believed to motivate their followers includes:
by offering an appealing vision of the futureby increasing followers' confidence in getting the job doneby changing followers' perceptions of work itselfby developing a collective identify among followersWhat is a Charismatic leadership?Generally, a charismatic leadership refers to a leader who uses his or her communication skills, persuasiveness and charm to influence others, especially his/her followers. Most of the charismatic leaders, given their ability to connect with people on a deep level, are especially valuable within organizations that are facing a crisis or are struggling to move forward.
Some of the merit of Charismatic leadership are:
Highly inspirational and motivatingEncourages sense of camaraderie, collaboration, and unionMakes followers feel heard and understoodCreates movement toward positive changeSome of the demerit of Charismatic leadership are:
Can become more focused on themselves than their peopleHas potential to become self servingFrequently viewed as shallow or disingenuousRead more about Charismatic leadership
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Give (2) examples how we deal with "Scarcity"
Answers
Answer:
Either increasing supply or lowering demand
Explanation:
increasing supply:
e.g. when less developed countries (LDCs) experience a famine or drought, other countries can supply food and/or water to them
lowering demand:
finding alternative solutions of the product (that have the same effect as the original product) or reducing the reasons for why there is a high demand
- e.g. crops not growing well due to weather/crop disease going around -> find a crop that is more resistant to the disease (reducing reasons for demand)
- e.g. rice field has an infestation -> not yielding enough rice to feed the population -> population feels hungry and other foods cannot help them feel full/sustain them -> find another crop to substitute, like yam or potatoes that are equally filling (alternative solutions)
but these two are pretty much the same so
also please note I don't take any courses on supply and demand other than geography so I might be completely wrong
If you have $35 in your checking account and swipe your debit card for a $50 purchase WITH overdraft protection, what most likely happens? *
I will give u a Brainliest
Answers
According to the condition, it will happens you can make the purchase, but you will also be charged an overdraft fee.
What do you mean by overdraft protection?A checking account's overdrafts are covered via an agreement made with the bank or other financial institution known as overdraft protection. This service normally has a cost attached to it, usually up to a predetermined maximum.
Even if there isn't enough money in your bank account, overdraft protection ensures that transactions still go through. Checks, ATM withdrawals, and debit card transactions are typically covered by this insurance.
The recipient won't be aware of your low bank balance thanks to overdraft protection, which also ensures that urgent transactions go through.
Therefore, if you have $35 in your checking account and swipe your debit card for a $50 purchase with overdraft protection, it will happens you can make the purchase, but you will also be charged an overdraft fee.
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Choose the option that best matches the description given.
The three levels of interventions used in the human services field include administrations,________ , and program planning.
indirect counseling, direct services, crisis intervention
Answers
Answer:
crisis intervention
Answer:
its direct services
Explanation:
trust gang
what are the theoretical and lifestyle aspects of the rent-versus-buy decision? among the personal and lifestyle factors that are relevant to this decision are:
Answers
The rent-versus-buy decision involves both theoretical and lifestyle aspects. Theoretical factors include financial considerations such as cost, investment returns, and market conditions. Lifestyle factors encompass personal preferences, flexibility, and long-term plans.
The rent-versus-buy decision involves weighing the theoretical and financial aspects with personal and lifestyle factors. Theoretical aspects revolve around financial considerations. These include evaluating the cost of renting versus buying, taking into account factors such as monthly rent payments, mortgage payments, property taxes, maintenance costs, and potential investment returns. Market conditions, such as interest rates and housing market trends, also play a role in the decision-making process.
On the other hand, lifestyle factors are personal and subjective. They reflect individual preferences and circumstances. Lifestyle considerations may include factors such as desired location, stability, flexibility, and long-term plans. Renting provides flexibility and mobility since it is easier to relocate, while buying a property may offer stability and the ability to customize and build equity over time.
Ultimately, the rent-versus-buy decision requires a careful analysis of both the theoretical financial aspects and personal lifestyle factors. It is important to assess individual goals, preferences, and financial capabilities to make an informed decision that aligns with both practical and lifestyle considerations.
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The rent-versus-buy decision involves both theoretical and lifestyle aspects. The theoretical aspects encompass financial considerations, such as the long-term costs, investment potential, and market conditions.
Theoretical Aspects: The rent-versus-buy decision involves assessing the financial implications of both options. This includes comparing the long-term costs of renting versus the potential return on investment from homeownership, considering factors such as mortgage interest rates, property appreciation, property taxes, maintenance costs, and insurance. Additionally, market conditions, such as housing prices and rental rates, can play a significant role in determining the financial viability of renting or buying.
Lifestyle Factors: Personal and lifestyle considerations are crucial in the rent-versus-buy decision. Factors such as personal preferences, mobility requirements, and future plans can heavily influence the choice. Renting offers flexibility and mobility, allowing individuals to easily relocate or adjust living arrangements. It may be suitable for those who prioritize freedom, low maintenance responsibilities, or uncertain future plans. On the other hand, homeownership provides stability, the ability to customize and invest in property, and the potential for building equity. It may be favored by individuals seeking long-term stability, a sense of ownership, and the ability to customize their living space.
Ultimately, the decision to rent or buy a property is a complex one that involves weighing both financial and lifestyle factors. It is important to carefully evaluate personal preferences, financial capabilities, future plans, and market conditions to make an informed decision that aligns with individual goals and circumstances.
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How can you change your city
Answers
Answer:
cleaning up trash off the side of the road...
broker a is unable to attend a closing in which he established a brokerage relationship with one of the parties. what should broker a do?
Answers
A buyers' broker attends a closing and learns that the buyer of his or her client was charged $225 for an appraisal that the seller had agreed to fund. How the broker ought to behave
What must both parties bring to the closing?In order for a closing to take place, the seller must present merchantable title, the buyer must have "good cash" with them, and both parties must sign all necessary documents.
Who is accountable for the truthfulness of the concluding remarks?The employing broker is in charge of managing the listing broker, while the listing broker is in charge of the correctness of the closing statements and six-column spreadsheet. on behalf of the buyer and seller, engages a closing service.
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At a recent stockholders meeting for Ignate Inc., a group of stockholders expressed disagreement with the way that the managers were using free cash flow. Because they wanted to be able to control how the cash is invested, the stockholders lobbied that the free cash flow should be:
Answers
The stockholders lobbied that the free cash flow should be distributed to them as dividends.
The Free cash flow means money that business generates from its main business activities after necessary deduction of capital expenditures.
The Free cash flow are used to make further investment to allow more cash inflow into the organization.
But here, the stockholders are expressing their disagreement with the way that the managers were using free cash flow, therefore, they prefers that dividend are paid to them rather than managers investing the Free Cash Flow.
Therefore, the Option B is correct.
The options includes "a. used to pursue cross-border acquisitions. O b. distributed to them as dividends. O C. invested in new research and development O d. used to pay down corporate debt."
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as a pension fund manager at heitman capital management , you are considering three mutual funds. the first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a t-bill money market fund that yields a sure rate of 5.0%. the probability distributions of the risky funds are:
Answers
Stock Fund The stock fund has a potential return of 7.5% with a probability of 0.4, a return of 10% with a probability of 0.3, and a return of -2% with a probability of 0.3.
What is stock fund?A stock fund is an investment fund that invests in stocks, otherwise known as equity securities. These funds are professionally managed and can provide investors with diversified exposure to the stock market. Stock funds can be actively managed, with the fund manager actively selecting which stocks the fund will invest in, or passively managed such as index funds, which track a specific stock index.
Long-Term Government and Corporate Bond Fund
The long-term government and corporate bond fund has a potential return of 4.5% with a probability of 0.5, a return of 7% with a probability of 0.2, and a return of 2% with a probability of 0.3.
T-bill Money Market Fund
The T-bill money market fund has a sure rate of return of 5.0%.
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Marta is twenty eight years old, and she has no dependents. She has saved an emergency fund and an extra $1,500.
She would like to save or invest this money in hopes that it will grow fast. Marta does not mind taking risks with her
money. Which type of account or investment is best for her?
fifteen-year savings bond
IDA
mutual fund
basic savings account earning 1.3 percent Interest, compounded monthly
Answers
Answer:
Mutual Fund
Explanation:
Mutual fund is a type of investment where professionals managed a pooled sum money contributed by different investors. These funds are invested into buying stocks , bonds other securities towards profit making.
It has its advantages in professional management , shared risks, dividends reinvestment and convenience. However , the disadvantages include poor trade execution ,potential for management bias and high fees.
Answer:
The correct answer would be a basic savings account earning 1.3% interest, compounded monthly.
Explanation:
Taking into account that Marta does not like taking risks with her money and does not have an emergency fund she should not invest in stocks. She also wishes to use her money within 18 months, so a fifteen-year savings bond would not be a great choice.
A mutual fund is a collection of money from a group of investors to buy different investments. This choice will also not work well for Marta.
An IDA is an individual development account for low-income families to save towards a targeted amount usually used for building assets in the form of home ownership, post-secondary education and small business ownership. Not a great account for a single person with no dependants.
$1,500 at 1.3% interest, compounded monthly after 18 months equals about $1,520. Even though Marta won't be earning a huge amount of money, she will still earn some. Since she doesn't have an emergency fund and doesn't like risks, a basic savings account earning 1.3% interest, compounded monthly will be the right choice for her.
Describe which 2 factors of the audit risk model relate to the risk of material misstatement at the assertion level.
Answers
The two factors of the audit risk model that relate to the risk of material misstatement at the assertion level are inherent risk and control risk. Inherent risk refers to the susceptibility of an assertion to a material misstatement, taking into account the nature of the assertion and the entity's environment, while control risk refers to the risk that a material misstatement will not be prevented or detected on a timely basis by the entity's internal control.
In the audit risk model, the two factors that relate to the risk of material misstatement at the assertion level are:
1. Inherent Risk (IR): Inherent risk is the possibility of material misstatement in a financial statement assertion without considering the effectiveness of internal controls. This risk arises due to the nature of the business, transactions, or the account balances being audited. Factors affecting inherent risk include the complexity of transactions, susceptibility to misstatement, and the degree of judgment involved in determining the account balance.
2. Control Risk (CR): Control risk is the risk that a material misstatement in a financial statement assertion could occur and not be detected or prevented on a timely basis by the entity's internal control system. Factors affecting control risk include the design and implementation of internal controls, the effectiveness of monitoring activities, and the segregation of duties within the organization.
In summary, the two factors of the audit risk model that relate to the risk of material misstatement at the assertion level are inherent risk and control risk. Auditors assess these risks to determine the overall audit risk and plan the audit procedures accordingly.
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Short-run supply and long-run equilibrium Consider the competitive market for steel. Assume that, regardless of how many firms are in the industry, every firm in the industry is identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph. 00 T 90 80 70 60 50 20, 30 40 ATC 30 20 10 5 10 15 20 25 30 35 40 45 50 QUANTITY Thousands of tons)
Answers
Long-term economic profit is zero as a result of implicit costs, but the company's accounting profit is positive. The claim is therefore untrue.
The short-run equilibrium price of titanium would be $15 per pound if there were 20 businesses in this market. Businesses in this industry would lose money at that price. As a result, companies originating from the titanium market would persist over time.
You know that in the long run, competitive firms make no economic profit, so the long-run equilibrium price must be $30 per pound. You can see from the graph that in order for the titanium industry to be in long-term equilibrium, there will be ten companies operating there.
Due to implicit costs, long-term economic profit is zero, but the company's accounting profit is positive. As a result, the assertion is untrue.
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