In the long run, firms will be able to sustain economic profit because of the low barriers to entry and exit In the long run, firms will still be able to produce while sustaining economic loss because of the low barriers to entry and exit In the long run, firms will make normal profit because of the low barriers to entry and exit none of the above

Compute the cost of not taking the following cash discounts. (use a 360-day year. do not round intermediate calculations. input your final answers as a percent rounded to 2 decimal places.)

You estimate that your cattle farm will generate $0.15 million of profits on sales of $3 million under normal economic conditions and that the degree of operating leverage is 2. (leave no cells blank - be certain to enter "0" wherever required. do not round intermediate calculations. enter your answers in millions.) a. what will profits be if sales turn out to be $1.5 million?

Which of the following best explains the purpose of protectionist trade policies such as tariffs and subsidies? a. they make sure that governments have enough money to pay for fiscal policies. b. they give foreign competitors access to new markets around the world. c. they allow producers to sell their products more cheaply than foreign competitors. d. they enable producers to purchase productive resources from everywhere in the world.