The price of an acoustic guitar is $300, and the average total cost is $100. Based...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The price of an acoustic guitar is $300, and the average total cost is $100. Based on this information, which of the following statements is true? Select the best answer. Answer 2 Points 4 O The market is in equilibrium. O Musical instrument firms will enter the market. O Musical instrument firms will exit the market. Key The price of an acoustic guitar is $300, and the average total cost is $100. Based on this information, which of the following statements is true? Select the best answer. Answer 2 Points 4 O The market is in equilibrium. O Musical instrument firms will enter the market. O Musical instrument firms will exit the market. Key
Expert Answer:
Answer rating: 100% (QA)
Answer Musical instrument firms will enter the market The indu... View the full answer
Related Book For
Posted Date:
Students also viewed these economics questions
-
which of the following statements is true select one a. an employer cannot be held liable for a tort that an employee deliberately committed b. vicarious liability supports tort law's compensation...
-
The tone quality of an acoustic guitar is different when the strings are plucked near the bridge (the lower end of the strings) than when they are plucked near the sound hole (close to the center of...
-
Which of the following statements are true of long-term investments? a. They can include investments in trading securities. b. They are always easily sold and therefore qualify as being marketable....
-
Your independent film production company owns the rights to a script for a rom-com movie. They estimate that the script would cost $30 million to make into a movie, which would have a 35% chance of...
-
You buy a 6 year, 8% CD for $1,000. Interest is compounded annually. How much is it worth at maturity?
-
The functions y(x) = 1/16 x 4 , - < x < and have the same domain but are clearly different. See the following figure (a) and (b), respectively. Show that both functions are solutions of the...
-
The trial balance of Kind Care Child Care, Inc., does not balance. The following errors are detected: a. Cash is understated by \($2,000\). b. A \($1,000\) debit to Accounts receivable was posted as...
-
Corley Communications performed a customer profitability analysis and obtained the following results for its bottom five customers: Chris Corley, vice president for marketing, believes that if these...
-
Michelle has been a registered nurse since obtaining her RN at age 28 She has been living in Brampton since her childhood, and feels that serving the community that her parents raised her in is her...
-
Referring to Problem 18, suppose the airline wants to determine how many checkpoints to operate to minimize operating costs and delay costs over a 10-year period. Assume that the cost of delaying a...
-
Hmmm! is a neighbourhood coffee shop that sells the best coffee in the world. In addition to coffee, Hmmm! sells a few food items, mostly baked goods that pair well with coffee. The shop is open 24...
-
If 2.2 lbs = 1.0 kg and a student weighs 130 lbs, what is the students weight in Newtons? What will be the final velocity of a 5.0 g bullet starting from rest if a net force of 45 N is applied over a...
-
other word for modest in this sentence: Despite modest productivity increases, the financial advantages surpass the expenses, making the process profitable after reaching the break-even point.
-
If you search the internet, you will find various articles on how the statement of cash flows can be used to gauge the financial health of a company. However, there are many similar articles that...
-
Sketch a net of the prism. Then use the net to find the surface area of the prism by finding the sum of the areas of its faces. cm Enter an exact number. 3 cm 7 cm 5 cm 8 cm
-
ABC corporation's capital is composed of 30% debt and 70% equity. ABC credit rating class is BBB. Companies in this credit class has a 3% credit spread. ABC's beta is 1.2. Equity Market Risk Premium...
-
If a client pays their Advisor based on the total size of their portfolio assets under the Advisor's management, what type of compensation structure does the Advisor have? Fee-based Salary-based...
-
The rate at which the temperature of an object changes is proportional to the difference between its own temperature and the temperature of the surrounding medium. Express this rate as a function of...
-
The Eastland Postal Service is government owned. The government requires it to provide parcel delivery service to every home and business in Eastland at a low price which is set by the government....
-
A company uses an activity -based costing system. The company manufactures three products, details of which are given below: Annual inspection costs are $150,000. The inspection cost per unit of...
-
A company uses marginal costing. The following variances occurred in the last period when the actual net profit was $40,000. Materials ................................................... $900 adverse...
-
The two degree-of-freedom system in Figure 6.64 undergoes rectilinear motion. (a) Derive the flexibility influence coefficients. (b) Derive the stiffness influence coefficients. (c) Find the inverse...
-
For the double pendulum of Figure 6.66, derive the equations of motion using (a) Newton's second law, and (b) Lagrange's equation. L 0 m m Figure 6.66: Double pendulum.
-
For the triple pendulum of Figure 6.65, determine the flexibility influence coefficients that relate the horizontal forces and the horizontal displacements. Find the inverse of the matrix of...
Study smarter with the SolutionInn App