Decisions are needed both for tackling the problems as well as for taking maximum advantages of the opportunities available. Correct decisions reduce complexities, uncertainties and diversities of the organisational environments.
The above is an example of property rights facilitating exchange.
<h3>What is property right?</h3>
This refers to the legal right to own a property whether or not they are tangible or intangible.
Property rights enables one to do the following:
- A person has the authority to own a property.
- The property can be used within the law as he deemed fit.
- Receive any income that the property generates.
Hence, the above is an example of property rights facilitating exchange.
Learn more about property rights here: brainly.com/question/913138
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<span>The impersonality of relationships principle states that decisions must be made this way. This principle also states that the informal and formal relationships that people have with their peers shouldn’t affect the way they make decisions. The idea of making the decision is to benefit the goal of the organization that one is making it for.</span>
Answer:
the cost of the merchandise sold for November if the company uses LIFO is c. $590
Explanation:
LIFO Inventory System sells the Inventory recently acquired first followed by the Older Inventory Acquired.
<u>Cost of the merchandise sold for November - Calculation</u>
November 4 : 10 units × $19 =$190
November 17 : 20 units × $20 =$400
Total =$590
Answer: Produce less.
Explanation:
Given that,
Price = $65
Marginal revenue = $35
Average total cost = $35
Marginal cost = $50
From the information given, it was observed that marginal revenue is not equal to marginal cost. The profit maximizing condition for a monopolist is at a point where marginal revenue is equal to the marginal cost.
But here marginal cost is greater than the marginal revenue. So, the monopoly firm should produce less output in order to reduce the marginal cost.