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notka56 [123]
1 year ago
10

Assume the lunch plate industry in Oahu, a perfectly competitive industry, is in long-run equilibrium with a market price of $5.

If demand for lunch plate increases and this industry is a decreasing-cost industry, long-run equilibrium will be reestablished at _______ price.
Business
1 answer:
Wewaii [24]1 year ago
7 0

Answer:

Explanation:

The lunch plate industry in Oahu is a perfectly competitive industry.  

This industry is also a decreasing cost industry. A decreasing cost industry can be defined as the type of industry where an increase in the number of firms in the industry causes the average production cost to decline.  

The industry is currently in long-run equilibrium and has the price level at $5.

As the demand increases, the price level will initially increase. But this increase in the price will cause the profits to increase and thus attract potential firms to join the market.  

As the number of firms increases the average cost of production will decrease. As a result, the supply in the market will increase more than the demand.  

So the long-run equilibrium will be reestablished at a lower price than earlier.

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Where can I find a copy of my residence weekend attendance records? MyUC / UC One My advisor My UC Email All of the above
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Answer: Your Advisor

Explanation:

MyUC / UC One is a portal for UC students.

6 0
2 years ago
When the price level decreases, _____. rev: 06_12_2018 Multiple Choice the demand for money falls and the interest rate falls ho
beks73 [17]

Answer:

The demand for money falls and the interest rate falls.

Explanation:

Price level can be described as the evaluation of the amount in which goods and services are sold in the market. A change in the price level can greatly affect the demand of a customer either positively or negatively.

A decrease in the price level enables a customer to purchase more products and at the same time save some amount of money, this results in the reduction of interest rates.

When the price level reduces, individuals will need less amount of money to buy the same quantity and type of product.

6 0
1 year ago
The Kelsh Company has two divisions--North and South. The divisions have the following revenues and expenses: Total North South
gizmo_the_mogwai [7]

Answer:

The correct answer is C that is $(140,000)

Explanation:

Elimination of the North Division will result in the overall net income or loss which is computed as:

Elimination of the North Division will result in the overall net income or loss = South Net Income (NI) - North's allocated costs

where

South Net Income is $100,000

North's allocated costs is $240,000

So,

= $100,000 - $240,000

= $(140,000)

Therefore, it will result in loss of $140,000

Note: The Net Income will be decline or decrease by $240,000 when the division was dropped.

4 0
2 years ago
One of the steps the U.S. Sentencing Commission delineated companies must implement to demonstrate due diligence is that a firm
Alchen [17]

Answer:

The correct answer is number (1): True.

Explanation:

Due diligence refers to the exercise an individual is subject to after entering a contract with another party by which a certain standard of care is expected from the individual.  

The United States Sentencing Commission is the governmental agency in charge of reviewing sentences discrepancies and promoting fair sentencing.

<em>In front of ethical issues within a firm, the U.S. Sentencing Commission states that the company must have disseminated a code of conduct so that the filing company can allege a violation of the due diligence employees are subject to.</em>

8 0
1 year ago
While on vacation in las vegas jennifer, who is from utah, wins a progressive jackpot playing cards worth $15,875 at the casino
hodyreva [135]

Answer:

Depending on what game Jennifer played, she might have to pay taxes. If Jessica won the money playing [email protected]@ck or [email protected]@[email protected] she doesn't need to pay taxes.

Explanation:

The IRS requires casinos in Las Vegas to withhold 25% of total gambling winnings (or 30% if the gambler is from a foreign country). When a casino withholds taxes, they will provide you with IRS Form W-2G.

You must remember to keep Form W-2G so you can report it on your IRS Form 1040 tax return at the end of the year, to avoid being taxed twice.

But winnings from some table games are not taxed, e.g. [email protected]@ck, [email protected]@[email protected], [email protected], and roulette are not taxed.

8 0
2 years ago
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