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<span>A firm determines its profit by subtracting total cost from revenue</span>
Answer: A. Market Period.
B. Long Run
C. Short Run
Explanation:
A.Output and the number of firms are fixed
The MARKET PERIOD is a very short period that refers to a situation where all resources are FIXED. This means that Output itself is fixed and therefore cannot adjust to demand.
B.Plant capacity is flexible. Firms can enter and exit an industry.
This is the LONG RUN. A time where all resources are Variable. This means that factors such as Plant Capacity which is FIXED in the Short Run will simply be Variable and hence flexible in the long run. Other Firms are also free to enter or leave the Industry during this time.
C.Plant capacity and the number of firms are fixed. Firms can employ more labor if needed
This refers to the SHORT RUN which is a situation where AT LEAST one resource is FIXED and others are VARIABLE. As long as there is a Fixed Resource with some Variable Resources, it is the Short Run. Plant Capacity and Number of Firms are fixed but Labor is Variable. This makes this scenario a Short Run Scenario.
Answer:
The correct answer is C
Explanation:
Bank asset is the assets which represent the ownership of the value capable of being converted into cash. So, the reserve which the banks hold or refrain from using will be classified as the asset for the bank. And the deposit made by the customer will be classified as the current liability as the bank allows the customers to use their deposits whenever they want to use.
Therefore, the reserve is a part of bank asset whereas the deposits will not be a part of bank asset.
Answer:
Descriptive
Explanation:
Descriptive headings are self-contained, which means that readers can skim through just the headings and subheadings and understand them without reading the rest of the document.
Descriptive headings highlights the important matter and main points of the content of the information and they are used to help readers to quickly spot the summary of the points to be communicated.
Furthermore, descriptive headings help readers find and understand information quickly which meets the required qualitative factors of the timeliness and comprehensibility of information.
