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Why can firms only make normal profit in the long run when under perfect competition?

Firstly it is important to understand the assumptions of perfect competition.They are as follows:-Large number of buyers and sellers-Homogenous (identical) goods-No barriers to entry or exit-Firms are price ...
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Answered by Joseph S. • Economics tutor
7038 Views

X^2 -25 Find the solution to this equation.

candidate should recognise the equation is a difference between two squares. the next step is to factorise: square root of 25 is 5 (x-5)(x+5) = x^2-25 x= -5 x= 5
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Answered by Jakub D. • Maths tutor
3712 Views

For the reaction (hydrochloric acid + magnesium -> magnesium chloride + hydrogen) what would happen to the rate of reaction if the solid magnesium was cut into smaller pieces? Explain the change (4)

By cutting the solid magnesium into smaller pieces you are increasing the surface area and also making a larger surface area to volume ration. Increasing the surface area increases the rate of reaction as th...
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Answered by Abigail R. • Chemistry tutor
8403 Views

If x^2 + 2y = -14 and y = 4x + 1 , by using the quadratic formula, find the possible values for x.

First the equation for y must be substituted into the first equation to give a quadratic equation in x. Rearrange this equation so that the left-hand side equals 0. Using the quadratic formula the possible v...
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Answered by Rachael W. • Maths tutor
3039 Views

Explain one externality that could come about as a result of a factory producing clothes.

A factory producing clothes would likely produce air pollution. This is a negative externality as it is an unintended consequence of production.
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Answered by Rachel T. • Economics tutor
1894 Views