Question

Being in the best industry guarantees outstanding profits. True or False

Being in the best industry guarantees outstanding profits.

True or False

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

"False"

Profit is made by the firms in an industry, if its a monopoly the industry i.e. the firm will make a profit because there is only one firm in the industry like US railways. If the firm is in an industry that is perfectly competitive there may or may not be a profit. Similarly with a firm which operates in an industry that has a structure of monopolistic competition.

Industry will be defined as all the firms in the market producing the same good. Like Cloth industry, fishing industry there can be a number of or just one firm in that industry that will decide the market structure and profits.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
True or False An absolute advantage guarantees a competitive advantage. True or False Unless two people...
True or False An absolute advantage guarantees a competitive advantage. True or False Unless two people (producers) are identical, each will have a relative advantage in something.
The airline industry is one of the few where profits actually increase in a recession, but...
The airline industry is one of the few where profits actually increase in a recession, but fall in expansions, because the price of jet fuel rises in expansions and falls in recessions. True or False
True for false An arraylist is a statically allocated data structure (true/false) Program efficiency is best...
True for false An arraylist is a statically allocated data structure (true/false) Program efficiency is best calculated by counting the execution times of programs(true/false) There are algorithms that are cheaper, hence faster than O(N2) when sorting a highly unsorted list(true/false) Java handles cleanup of unreferenced objects in memory automatically (true/false)
Explain whether the following are true, false, or uncertain. (a) Whether an industry is competitive or...
Explain whether the following are true, false, or uncertain. (a) Whether an industry is competitive or monopolized, the equilibrium output level lies along the elastic portion of the demand curve. (b) If you care only about eliminating deadweight loss, then you are indifferent between a monopolist engaging in perfect price discrimination and a monopolist being forced by a regulatory agency to use marginal cost pricing. I already know that a) is False and that b) is True. I would love...
The Oldowan tool industry was complex, with dozens of unique tool types. True or False
The Oldowan tool industry was complex, with dozens of unique tool types. True or False
1. An outstanding leader needs good strategic substance and effective interpersonal skills. True False 2. The...
1. An outstanding leader needs good strategic substance and effective interpersonal skills. True False 2. The best leaders are cautious or even reticent about showing people their appreciation. True False 3. In the present organizational setup, having a vision for the future and communicating that vision to others are known to be essential components of great leadership. True False 4. Leaders need not only to know what they want for their organizations but also to communicate their vision so that...
There is a single best conceptual definition of every psychological construct. True or false
There is a single best conceptual definition of every psychological construct. True or false
True or False: All else being equal, the variance of the difference in means for paired...
True or False: All else being equal, the variance of the difference in means for paired data will be LARGER than the variance of the difference in means for unpaired data if there is a positive covariance between the pairs. A. True B. False
TRUE OR FALSE 1. Short run producer surplus is equal to profits plus fixed costs 2....
TRUE OR FALSE 1. Short run producer surplus is equal to profits plus fixed costs 2. When Maximizing Profits a firm will always be equating the marginal expense of labor to the marginal expense of capital 3. Going to the dentist is an example of a situation that might involve a principal agent problem.
A favorable CCC means less need for external financing. True or False A sale of product...
A favorable CCC means less need for external financing. True or False A sale of product begins a new cash cyle. True or False Higher cash holdings tend to reduce the value of a share of stock in a company. True or False The best benchmark for DSO comparison is industry standards. True or False A customer that orders frequently should be treated than a one-time or a new customer when making the credit decision on terms. True or False...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT