In the long run, selling price will tend to equal costs plus reasonable profits. Discuss.
Question:
In the long run, selling price will tend to equal costs plus reasonable profits. Discuss.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
The statement In the long run selling price will tend to equal costs plus reasonable profits reflects a fundamental principle of economics and business It is often associated with the concept of the c...View the full answer
Answered By
Abdul Wahab Qaiser
Before working at Mariakani, I volunteered at a local community center, where I tutored students from diverse backgrounds. I helped them improve their academic performance and develop self-esteem and confidence. I used creative teaching methods, such as role-playing and group discussions, to make the learning experience more engaging and enjoyable.
In addition, I have conducted workshops and training sessions for educators and mental health professionals on various topics related to counseling and psychology. I have presented research papers at conferences and published articles in academic journals.
Overall, I am passionate about sharing my knowledge and helping others achieve their goals. I believe that tutoring is an excellent way to make a positive impact on people's lives, and I am committed to providing high-quality, personalized instruction to my students.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
1. In the classical model, it is thought that the long-run: A. and short-run aggregate supply curves are both upward sloping. B. aggregate supply curve is vertical and the short-run aggregate supply...
-
Which of the following conditions would definitely cause a perfectly competitive company to shut down in the short run? Select one: a. P < MC b. P = MC < AC c. P < AVC d. P = MR e. None of the above...
-
Using License Fees to Make Positive Profit: Suppose you own one of many identical pharmaceudical companies producing a particular drug x. A: Your production process has decreasing returns to scale...
-
Complete the horizontal analysis of the following comparative income statement? Mile Wide Organic Woolens, Inc. Comparative Income Statement For Years Ending December 31, 2012 and 2013 Increase...
-
Townes Tire Outlet features more than a dozen brands of tires in many sizes. Two of the brands are Gripper and Roadster, both imports. The tire size 205/70-VR15 is available in both brands. The...
-
Unauthorized Indorsements. Stephen Schor, an accountant in New York City, advised his client, Andre Romanelli, Inc., to open an account at J. P. Morgan Chase Bank, N.A., to obtain a favorable...
-
What is replication in an experiment, and why is it important?
-
Young, Martinez, and Cheung (YMC) is a law firm in Chicago. The firm has had a very loose and relaxed management style that has served it well in the past. However, more aggressive law firms have...
-
Prepare Hogsmeade Companys Schedule of Cost of Goods Manufactured for December 31, 2020 (1) Make sure you use a 3-line header (2) Dollar signs are reserved for the first number in each column and the...
-
The file TRAFFIC2.RAW contains 108 monthly observations on automobile accidents, traffic laws, and some other variables for California from January 1981 through December 1989. Use this data set to...
-
List the factors taken into consideration in fixing the selling price by a business firm.
-
An Electronics Company has the following cost structure for an electronic product. Fixed selling and administrative costs Rs. 6,00,000. Additional information: (i). Budgeted production and sale for...
-
7 Suppose a manufacturer of exercise equipment sets a suggested price to the consumer of $395 for a particular piece of equipment to be competitive with similar equipment. The manufacturer sells its...
-
How do multi-track diplomacy frameworks, integrating official, unofficial, and grassroots efforts at different levels of society, enhance the effectiveness and inclusivity of conflict resolution...
-
As explained by Welch, what should managers do to determine what their own organizations have been up to ?
-
As an administrator how do you demonstrate below situation with suitable examples. 1 Completes tasks to a high standard 2 Demonstrates the necessary level of expertise required to complete tasks and...
-
What influences do the pharmaceutical companies have on psychiatry? What acronym can guide you in formulating a treatment plan (hint: Your instructor emphasizes this when creating a treatment plan,...
-
How do you write a board paper from an article? for example how would y a board paper from the article below look like? Aritcle...
-
Consider Figure 21-2. Explain why the figure indicates that if the normal rate of return on investment were to remain unchanged while accounting profit increased, economic profit also would increase?
-
Express mass density in kg/m3 and weight density in lb/ft3. 1. Find the mass density of a chunk of rock of mass 215 g that displaces a volume of 75.0 cm3 of water. 2. A block of wood is 55.9 in. x...
-
All transfer-pricing methods give the same division operating income. Do you agree? Explain.
-
Under what conditions is market-based transfer price optimal?
-
What is one potential limitation of full-cost-based transfer prices?
-
Los datos de la columna C tienen caracteres no imprimibles antes y despus de los datos contenidos en cada celda. En la celda G2, ingrese una frmula para eliminar cualquier carcter no imprimible de la...
-
Explain impacts of changing FIFO method to weighted average method in inventory cost valuations? Explain impacts of changing Weighted average method to FIFO method in inventory cost valuations?...
-
A perpetuity makes payments starting five years from today. The first payment is 1000 and each payment thereafter increases by k (in %) (which is less than the effective annual interest rate) per...
Study smarter with the SolutionInn App