Answer:
500
Explanation:
please find attached the table referred to in this question and a second table where marginal cost is included
A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply.
in a perfect competition, price = marginal cost = marginal revenue
Marginal cost = total cost 2 - total cost 1
e.g. marginal cost at 2 units of output = $7 - $2 = $5
Hank and Helen would supply at the point where marginal cost is equal to $5.
looking at the second attached table, there are two points where marginal cost is equal to $5. at output 1 and output 5.
at output one, Hank and Helen would be earning a loss because total cost is greater than total revenue. so they would not supply at this point.
at output five, Hank and Helen would earn a profit and thus would supply at 5 units of output.
Since all firms face and identical cost structure, the industry supply would be 100 x 5 = 500 pounds
8,400 is your answer all you have to do is add the 4 sales and subtract the discounts and the returns
The telephone box and the other two about calls go to the bottom picture and the rest the top i would say
Firms that take voluntary actions to address the ethical, social, and environmental impacts of its business operations are involved in a Corporate Social Responsibility. Hope this helps. <span />
Answer:
The correct answer is D. equal to both average revenue and marginal revenue.
Explanation:
A perfectly competitive market or market of perfect competition is that market in which two characteristics are fulfilled:
1) there is a large number of buyers and sellers in such a way that the influence they individually exert on prices is negligible;
2) the goods or services that are exchanged are the same. [Supply and demand] Perfect competition is the situation of a market where companies lack the power to manipulate the price (price-acceptors), and there is a maximization of well-being.
This results in an ideal situation of the goods and services markets, where the interaction of supply and demand determines the price. A perfectly competitive market has the following characteristics: There are many buyers and sellers in the market. The goods offered by different vendors are largely identical. Companies can freely enter and exit the market.
