Question
Can you help me,,,? 1. Suppose rice market reaches long-run equilibrium. a. At equilibrium, what is the economic profit for each firm? Can the individual
Can you help me,,,?
1. Suppose rice market reaches long-run equilibrium.
a. At equilibrium, what is the economic profit for each firm? Can the individual firms produce at minimum average total cost and make maximum economic profits? Explain your answer with a diagram.
b. If the demand for rice increases. Explain what will happen to the market equilibrium and the profit of individual firms in the short run and long run. Explain your answer with illustrations.
2. In the year 2014 the CEO of Discovery Communications received compensation 2,282 times more average salary of the companies' employees which was $156 million. The CEO of Starbucks coffee received 994 times more than its employees that was $21million. Why do you think extremely high compensations are given to the CEOs of the company?Explain.
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Introduction to Managerial Accounting
Authors: Peter Brewer, Ray Garrison, Eric Noreen
7th edition
978-1259675539, 125967553X, 978-1259594168, 1259594165, 78025796, 978-0078025792
