Answer:
Producing 4 units yields the highest marginal revenue at 1500.
Explanation:
To calculate marginal revenue we look at the change in revenue figure compared to the change in units. In other words dividing the change in total revenue by the change in total output quantity.
Based on the information given these are the changes in marginal revenue per quantity.
1. 1200
2. 2200 - 1200 = 1000
3. 3400 - 2200 = 1200
4. 4900 - 3400 = 1500
5. 5500 - 4900 = 600
6. 6000 - 5500 = 500
7. 6500 - 6000 = 500
8. 6200 - 6500 = (300)
Thus based on the comparisons of the different quantities optimal marginal revenue is reached at 4 units of production. 1500 total marginal revenue
Explanation:
a advertising manager is basically a person who advertises different businesses on their companies for money
Answer:
Option (B) is correct.
Explanation:
The Journal entry is as follows:
Interest expense A/c Dr. $625
Note payable A/c Dr. $1791.60
To cash $$2,416.60
(To record the first month’s payment on January 31, 2021)
Working notes:
Monthly interest expense:
= (Note payable × Interest rate per annum) ÷ 12 months
= ($125,000 × 6%) ÷ 12 months
= $625
Note payable = $2,416.60 - $625
= $1,791.60
Answer:
I. If labor and capital are perfect substitutes in production, the isoquant is a straight, downward-sloping line.
II. If a company needs to use inputs in fixed proportion such that the capital to labor ratio is always 2, the firm's isoquants are L-shaped.
Explanation:
Perfectly substittuable goods have straight downward sloping ICs, and have corner solutions
.
Complementary goods (used in fixed proportions) are L shaped always
, In case of min(x,y) function, the answer is the value of x or y which ever is minimum and not their sum.
Therefore, Only statements I and II are true.
Answer:
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