Business, 03.12.2019 19:31 Rakeem458

Assume that the lcd and plasma tv sets industry is perfectly competitive. suppose a producer develops a successful innovation that enables it to lower its cost of production. what happens in the short run and the long run?

a) initially, the firm will be able to increase its profit significantly, but in the long run, its profits will still be greater than zero but lower than its short-run profits because other firms would also innovate.
b) the firm will probably incur losses temporarily because of the high cost of the innovation but in the long run it will start earning positive profits.
c) the firm will be able to increase its profits temporarily, but in the long run, its profits will be eliminated like other firms copy the innovation.
d) this firm will be able to earn above-normal profits indefinitely if it obtains a patent for its innovation.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 03:10

Jackson is preparing for his hearing before the federal communications commission (fcc) involving a complaint that was filed against him by the fcc regarding the interruption of radio frequency. the order to "cease and desist" using the radio frequency has had a detrimental impact on his business. once the administrative law judge prepares his or her initial order, jackson has no further options. no, jackson can request that the matter be reviewed by an agency board or commission. yes, once the initial order is presented, it's only a matter of time before the order becomes final.

Answers: 3

Answer

Business, 22.06.2019 10:40

You were able to purchase two tickets to an upcoming concert for $100 apiece when the concert was first announced three months ago. recently, you saw that stubhub was listing similar seats for $225 apiece. what does it cost you to attend the concert?

Answers: 1

Answer

Business, 22.06.2019 20:30

The former chairman of the federal reserve, alan greenspan, used the term "irrational exuberance" in 1996 to describe the high levels of optimism among stock market investors at the time. stock market indexes such as the s& p composite price index were at an all-time high. some commentators believed that the fed should intervene to slow the expansion of the economy. why would central banks want to clamp down when the economy is growing? a. to block the formation of unsustainable speculative asset bubbles. b. to curtail excessive profits in the banking system. c. to prevent inflationary forces from gathering momentum. d. all of the above. e. a and c only.

Answers: 3

Answer

Business, 22.06.2019 21:30

True or false payroll withholding includes income tax, social security tax, medicare tax as well as money you deduct for your retirement fund.

Answers: 1

Answer

You know the right answer?

Assume that the lcd and plasma tv sets industry is perfectly competitive. suppose a producer develop...

Questions