Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 11, 2024

In competitive markets economic profit becomes zero in the long-run. However, it is also possible for some fims to eam a greater accounting profit and

In competitive markets economic profit becomes zero in the long-run. However, it is also possible for some fims to eam a greater accounting profit and to enjoy a higher producer surplus than other firms. How is it possible? PLEASE EXPLAIN IN DETAIL

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hong Kong Auditing Economic Theory And Practice

Authors: Ferdinand A Gul

2nd Edition

9629371413, 978-9629371418

More Books

Students also viewed these Accounting questions

Question

★★★★★

Read the Case Study Unprofessional Conduct, write a paper in which you: Analyze the questions associated with case study and discuss the concepts of Unprofessional Conduct. Explain your rationale for...

Answered: 1 week ago

Question

★★★★★

Develop a list of recommendations and guidelines for working with translators and interpreters in your school, based on best practices. (D7, D10)

Answered: 1 week ago

Question

★★★★★

Arnez Company's annual accounting period ends on December 31, 2017. The following information concerns the adjusting entries to be recorded as of that date. (Entries can draw from the following...

Answered: 1 week ago

Question

★★★★★

In competitive markets economic profit becomes zero in the long-run. However, it is also possible for some fims to eam a greater accounting profit and to enjoy a higher producer surplus than other...

Answered: 1 week ago

Question

★★★★★

Victory Tire Company makes a special kind of racing tire. Variable costs are $220 per unit, and fixed costs are $20,000 per month. Victory sells 600 units per month at a sales price of $300. If the...

Answered: 1 week ago

Question

★★★★★

(i) (ii) (iii) Delphine & Co. is a law firm which had been operating for the past 20 years. The firm has over 200 active clients, mainly commercial organisations, and the clientele is still growing....

Answered: 1 week ago

Question

★★★★★

Share which technologies (e-learning, simulation, virtual reality, podcasts, etc.) most appeal to you. Explain why they appeal to you.

Answered: 1 week ago

Question

★★★★★

Imagine your boss wants to engage you to do extra work for the next few weeks on a special project of hers but she doesn't have additional budget to pay you. What kind of recognition or non-monetary...

Answered: 1 week ago

Question

★★★★★

A hotel find out that a famous hollywood celebrity will be staying for a vew days. security for the celebrity informs the hotel that there is a mentally unstable man who is stalkinh her and they are...

Answered: 1 week ago

Question

★★★★★

Determine the most likely bases for differentiated product or service offerings of Brookdale University Hospital Medical Center

Answered: 1 week ago

Question

★★★★★

3. Assess the quality or value of communication by examining its six characteristics

Answered: 1 week ago

Question

★★★★★

5. Describe the visual representations, or models, of communication

Answered: 1 week ago

Question

★★★★★

4. Define what communication scholars consider to be competent communication

Answered: 1 week ago

Previous Question Next Question