Which of the following is the correct way to describe equilibrium in a market?

a. at equilibrium, the "fairest" price for output is achieved.
b. at equilibrium, demand equals supply.
c. at equilibrium, quantity demanded equals quantity supplied.
d. at equilibrium, market forces no longer apply.

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?

Max has set some financial goals and created a budget. what else does max need to have a complete financial plan? a. loan information, insurance plan, and a saving and investing plan b. net worth statement, risk management plan, and investment principals c. net worth statement, insurance plan, and a saving and investing plan d. net worth statement, spreadsheet, and risk management plan