Retail graveyard: more than 7,000 U.S. stores have closed this year Last year, 5,864 stores closed, while
Question:
Retail graveyard: more than 7,000 U.S. stores have closed this year Last year, 5,864 stores closed, while 3,258 opened. So far this year, 7,062 have closed, while 3,017 have opened, but U.S. retail closures could easily be 12,000 in 2019. Explain why firms are closing so many retail stores. How will the economic profit of firms in the retail market likely change? What will economic profit be in the long run? Explain your answer.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
Firms are closing so many retail stores because the stores are incurring an eco...View the full answer
Answered By
Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
I am highly proficient in school level math and science and reasonably good for college level. In addition to this I am especially interested in courses related to finance and economics. In quest to learn I recently gave the CFA level 1 in Dec 19, hopefully I'll clear it. Finger's crossed :)
4.80+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Explain why firms are beginning to concentrate on social responsibility and corporate ethics.
-
Why are salespeople so much more likely than other kinds of workers to be paid on a piece rate (i.e., on commission)? What is it about the kind of work they do that makes the high-commission +...
-
Why do market forces drive economic profit but not economic rent toward zero?
-
Dakota Company purchased several assets from a competitor, paying a lump-sum of $1,000,000 (one million dollars). The assets included: i. Land - valued at $420,000 ii. Building - valued at $400,000...
-
What role does forecasting play in the supply chain of a build-to-order server manufacturer such as Dell?
-
How does the formula for determining the price of a T-bill resemble the formula for determining the price of a zerocoupon bond? Why is this so?
-
Managing diversity and affirmative action are ____________. (a) similar terms for the same thing (b) both mandated by law (c) different but complementary (d) becoming less and less important
-
Suppose that a lean work center is being operated with a lot size of 50 units. Assume that 200 parts are demanded per hour and it takes three hours to circulate a container, including all setup, run,...
-
Precalculus Write a formula for the function g that results when the graph of the function f(x) = 7 I is reflected about the y-axis, horizontally compressed by a factor of 3, shifted 1 units left,...
-
The comparative unclassified statement of financial position for Puffy Ltd. follows: Additional information: 1. Net income was $115,000. 2. Sales were $978,000. 3. Cost of goods sold was $751,000. 4....
-
Read Eye on Smartphones and explain why smartphone producers offer such a large variety of their products. Draw a graph of a firms cost and revenue curves if all smartphones are identical. Use your...
-
Isolated Island has two taxi companies, one owned by Ann and the other owned by Zack. Figure 18.3 shows the market demand curve for taxi rides, D, and the average total cost curve of one of the...
-
With the following information, calculate the company's DWC for 2012 and2013. 2012 2013 Profit for the year Depreciation/amortization Trade receivables 176,000 55,000 360,000 450,000 400,000...
-
Prepare the schedule of cost of goods manufactured for Barton Company using the following information for the year ended December 31. Direct materials used Direct labor Factory overhead Work in...
-
Make a pseudocode for accumulator architecture, to solve equation: A+(8*CHD/E) Example: In accumulator you must give all calculations (see last column) Don't use spaces or brackets; All letters mast...
-
Five data entry operators work at the data processing department of the Birmingham Bank. Each day for 30 days, the number of defective records in a sample of 300 records typed by these operators has...
-
Hawkeye Inc. has signed a building contract with a customer. The contract price is $1,800,000, and construction costs are estimated to be $1,200,000. The actual costs and estimated future costs by...
-
4. You attach a mass, M, to a string that is wrapped around a pulley with moment of inertia I and radius R. Then you measure the height of the mass as a function of time as the mass falls, unwinding...
-
Bright Goods assembles washing machines at its Cambridge plant. In February 2015, 60 tumbler units that cost $44 each from a new supplier were defective and had to be disposed of at zero disposal...
-
1. Firms may hold financial assets to earn returns. How the firm would classify financial assets? What treatment will such financial assets get in the financial statements in accordance with US GAAP...
-
In 2011, the exchange rate changed from 94 yen per U.S. dollar in January to 84 yen per U.S. dollar in June, and back to 94 yen per dollar in December. What information would you need to determine...
-
What is a fixed exchange rate and how is its value fixed?
-
Todays exchange rate between the yuan and the U.S. dollar is 6.40 yuan per dollar, and the central bank of China is buying U.S. dollars in the foreign exchange market. If the central bank of China...
-
7) Dope weed LLC started the year with a normal balance of $73,000 in the Inventoryaccount. During the year, debits totaling $47,500 and credits totaling $60,000 wereposted to the Inventory account....
-
Please need help! The following information is available for the Taylor Manufacturing company for 2020. Requirement Assume that all raw materials are purchased on credit and all sales are credit...
-
Discounted Cash flow dan Non Discounted Cash flow. Jelaskan apa maksud dan perbedaan dari dua konsep tersebut. Metode kriteria analisis investasi apa saja yang termasuk dalam masing-masing konsep...
Study smarter with the SolutionInn App