Let the amount received by the first person = x
First person receives: x
Second person receives: 2x - 6
Third person receives: 2x - 6 + 7 = 2x + 1
Solve for x
x + (2x - 6) + (2x + 1) = $180
5x - 5 = $180
5x = $185
x = $37
First person receives: $37
Second person receives: 2(37) - 6 = $68
Third person receives: 2(37) + 1 = $75
It differs from store to store. Usually it's around $500-$600 per money order slip. So if you want a $800 money order, you would have to get two seperate slips, but usually the maximum you can take out in two slips is around $1,000.
Answer:
The correct answer is: continue operating, exit the market.
Explanation:
The total revenue of a firm is $1,250.
The variable cost is $1,000.
The total fixed cost is $500.
At this level of output, the firm is maximizing profit.
The total cost here is
= TFC + TVC
= $500 + $1,000
= $1,500
The total cost incurred is greater than the total revenue earned. This means that the firm is having losses. The firm will not shut down in the short run as it will operate until the variable cost is being covered.
But in the long run, the firm will exit the market as it will need to cover all the costs to continue operating.
