Answer:
The firms make a $1 per bushel in profit.
Explanation:
When the price is greater than the long run total costs, then a profit is being generated. This helps the firms in the perfectly competitive oat industry to remain in the industry since they are making 100% profit on their investments, which they may not get elsewhere. If they are not making such large profits, some of the firms may decided to leave the industry and relocate their resources to other industries where they can make enough profits.
Radio.
Newspapers, only a select people buy them, skywriting only reaches a small amount of people, and many people do not read magazines during workdays. However, radio is effective because most people most likely listen to it before work.
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
I believe the answer is: first step, Planning Initiation
During this step, we determine the objective, scope, and purpose of the joint operation. We also start to structured the things that can be done in order to fulfil the objective and make sure that each steps are rational and can be delivered with sufficient resources.
HERE IS/ARE THE FULL QUESTION(S):
The small island nation of Kaboom is a simple economy with no government, no taxes, and no imports or exports. Kaboomers (citizens of Kaboom) are creatures of habit. They have a rule that everyone saves exactly 40 percent of income. Assume that planned investment is fixed and remains at 225 million Kaboomian dollars. Further assume that autonomous consumption (independent of Y) is zero, so consumption (C) is MPC times Upper YMPC×Y.
The following data are estimates for the island of Kaboom:
bullet• Real GNP (Y): 422 million Kaboomian dollars
bullet• Planned investment spending (I):225 million Kaboomian dollars
You are asked by the business editor of the Explosive Times, the local newspaper, to predict the economic events of the next few months.
Based on the data given, you predict inventories will DECREASE and the level of real GNP will INCREASE.
Things will stop changing when SAVINGS EQUAL INVESTMENT.
Kaboom's economy will reach equilibrium when its real GNP = 563 MILLION Kaboomian dollars
