Which of the following must be true if firms are exiting a perfectly competitive industry in the long run? Firms are earning negative economic profit, causing firms to exit, the price to rise, and profits will become positive in the long run. Firms are earning positive economic profit, causing firms to exit, the price to rise, and profits will become zero in the long run. Firms are earning zero economic profit, causing firms to exit, the price to rise, and profits will eventually become positive in the long run. Firms are earning negative economic profit, causing firms to exit, the price to rise, and profits will eventually reach zero in the long run.

Explain the relationship between consumers and producers in economic growth and activity

Acompany has two products: standard and deluxe. the company expects to produce 36,375 standard units and 62,240 deluxe units. it uses activity-based costing and has prepared the following analysis showing budgeted cost and cost driver activity for each of its three activity cost pools.budgeted activity of cost driver activity cost pool budgeted cost standard deluxe activity 1 $ 93,000 2,500 5,250 activity 2 $ 92,000 4,500 5,500 activity 3 $ 87,000 3,000 2,800 what is the overhead cost per unit for the standard units? what is the overhead cost per unit for the deluxe units? (round activity rate and cost per unit answers to 2 decimal places.)activity expected costs expected activity driver activity rate1 93,000 2 92,000 3 87,000 standard activity activity driver activity rate allocated costs1 2 3

Assume the total cost of a college education will be $250,000 when your child enters college in 17 years. you presently have $69,000 to invest. what annual rate of interest must you earn on your investment to cover the cost of your child’s college education? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)