Which of the following statements is not correct?
a) in a long-run equilibrium, marginal firms make zero economic profit.
b) to maximize profit, firms should produce at a level of output where price equals average variable cost.
c) the amount of gold in the world is limited. therefore, the gold jewelry market probably has a long-run supply curve that is upward sloping.
d) long-run supply curves are typically more elastic than short-run supply curves.

Tandard product costs deerfield company manufactures product m in its factory. production of m requires 2 pounds of material p, costing $4 per pound and 0.5 hour of direct labor costing, $10 per hour. the variable overhead rate is $8 per direct labor hour, and the fixed overhead rate is $12 per direct labor hour. what is the standard product cost for product m? direct material answer direct labor answer variable overhead answer fixed overhead answer standard product cost per unit answer

What would happen to the equilibrium price and quantity of lattés if the cost to produce steamed milk

Beagle autos is known for its affordable and reliable brand of consumer vehicles. because its shareholders expect to see an improved rate of growth in the coming years, beagle's executives have decided to diversify the company's range of products so that at least 40 percent of the firm's revenue is generated by new business units. however, the company's resources, capabilities, and competencies are limited to producing other forms of motorized vehicles, such as motorcycles and all-terrain vehicles (atvs). which type of corporate diversification strategy should beagle pursue?