Intersect. On a graph that is where they intersect.
Profit is maximized when Q = 4 and P = $40, with maximum profit = $90.
<u>Explanation:</u>
(a) (i) Marginal cost (MC) = Change in Total cost (TC) by Change in output (Q)
(ii) Total revenue (TR) = Price (P) into Q
(iii) Marginal revenue (MR) = Change in TR by Change in Q
(iv) Profit = TR - TC
Therefore:
Q TC MC P TR MR PROFIT
0 25 60 0 -25
1 40 15 55 55 55 15
2 45 5 50 100 45 55
3 55 10 45 135 35 80
4 70 15 40 160 25 90
5 90 20 35 175 15 85
6 115 25 30 180 5 65
7 145 30 25 175 -5 30
8 180 35 20 160 -15 -20
9 220 40 15 135 -25 -85
10 265 45 10 100 -35 -165
When Q = 4, MR = $25 and MC = $15, so MR > MC. When Q = 5, MR = $15 and MC = $20, so MR < MC. Therefore,
Profit is maximized when Q = 4 and P = $40, with maximum profit = $90.
(b) In the long run, new firms will enter the market by being attracted by positive short run profit. Therefore in long run, demand for individual firm will decrease, price for individual firm will decrease and profit will decrease until each existing firm earns zero economic profit.
Of the following, the best criticism of the argument above is that it overlooks the possibility that certain factors operating in the 1980’s but not in the 1970’s diminished people’s incentive to save and invest.
<span>If these other factors, unrelated to the inflation rate, that operated in the 1980’s but not the 1970’s, created an even greater disincentive to savings and investment than high inflation rates provide, then those trends do not provide evidence about the general relationship among savings, investment, and inflation. </span>
Answer: True
Explanation: Industry specific sites are usually used by candidates that have of expertise in specific industry sectors, For example- any candidate having higher skill set in IT sector might visit such a sight.
These sights brings the win win situation in the market as the candidate gets the job in which he or she is best at and the industry gets the experts for every job it has.
Thus, the above statement is true.
Answer:
a. companies to keep track of their wins and losses.
Explanation:
