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3241004551 [841]
1 year ago
7

g If a monopolist is producing a level of output where MR exceeds MC, then it should Group of answer choices Lower its output. N

one of the Answers are Correct. Raise its price. Increase its output.
Business
1 answer:
Svet_ta [14]1 year ago
3 0

If a monopolist is producing a level of output where MR exceeds MC, then it should Increase its output.

<h3>What happens if MR exceeds MC?</h3>
  • MR is the result of the sale of an additional unit, added to TR. When an additional unit is produced, MC is added to TC.
  • Thus, TR-TC becomes maximum for greatest profit when MR=MC.
  • The producer will keep making products as long as MR is greater than MC since it will increase his earnings.
  • The monopolist will choose the level of output that maximizes profits, where MR = MC, and then set the price for that amount of output according to the market demand curve.
  • The monopolist makes a profit if the price is higher than the average cost.
  • If the marginal cost exceeds the marginal revenue, the unit is not economically viable for the company to create because it costs more than it makes.

To learn more about MR and MC refer to:

brainly.com/question/15229143

#SPJ4

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See the journal entry below.

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Income tax payable in 2020 = Taxable income in 2020 * Tax rate in 2020 = $195,000 * 45% = $87,750

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<u>Date                  General journal                  Debit ($)         Credit ($)    </u>

31 Dec 2019      Income tax expense          193,395  

                             Deferred tax liability                                129,195      

                             Income tax payable                                 63,200

<u><em>                            (To record income tax payable.)                                 </em></u>

31 Dec 2020     Deferred tax liability            87,750      

                             Income tax payable                                 87,750

<u><em>                            (To record income tax payable.)                                 </em></u>

31 Dec 2021     Deferred tax liability            41,445      

                             Income tax payable                                41,445

<u><em>                            (To record income tax payable.)                                 </em></u>

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