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kotykmax [81]
1 year ago
7

Does a competitive firm’s price equal its marginal cost in the short run, in the long run, or both? explain.

Business
1 answer:
svlad2 [7]1 year ago
5 0

The price of a firm is equal to its marginal cost in both the short and long run. In both the short and long run, price equals marginal revenue. Firms should increase output as long as marginal revenue exceeds marginal cost, and reduce output if marginal revenue is less than marginal cost.

Revenue is the gross income derived from the sale of goods and services related to the company's main activities. Commercial income is also called sales or earnings. Some companies derive their income from interest, royalties, or other fees.

Revenue is the gross income a business generates from its core business, such as sales of products and services, property rentals, regular payments and interest on loans. Sales are calculated before deducting costs such as discounts and returns.

Learn more about revenue here:brainly.com/question/25623677
#SPJ4

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A company has the following unadjusted account balances at December 31, of the current year; Accounts Receivable of $185,700 and
stellarik [79]

Answer:

a. The amount of the Allowance for Doubtful Accounts that should appear on the December 31, Balance Sheet of the current year is:

= $8,965.

b. Adjusting Journal Entry:

Debit Bad Debts Expense $7,365

Credit Allowance for Doubtful Accounts $7,365

To record bad debts expense and bring the balance of the Allowance for Doubtful Accounts to a credit balance of $8,965.

Explanation:

a) Data and Calculations:

Accounts Receivable balance = $185,700

Allowance for Doubtful Accounts $1,600 (credit balance)

Aging Schedule:

Account Age                 Balance  Estimated Uncollectible   Amount

                                                                 Percentage

Current (not yet due) $96,000                  1.00%                    $960

1—30 days past due    64,000                  2.50%                    1,600

30—60 days past due  16,000                  11.00%                   1,760

61—90 days past due    6,500                  37.00%                 2,405

Over 90 days past due 3,200                  70.00%                 2,240

Total                         $185,700                                              $8,965

Bad Debts Expense:

Allowance for Uncollectible Accounts:

Beginning balance     ($1,600)

Ending balance           $8,965

Bad Debts expense = $7,365

5 0
2 years ago
Different companies across different industries adopt any one of the five generic strategies to gain competitive advantage.
enyata [817]

Answer:

c. An online retailer delivers organic groceries overnight.

Explanation:

As Different companies in different industries follow any one of the five general strategies to gain competitive advantage.

so The online retailer distributes organic groceries overnight, using a low-cost provider strategy. This is due to the intense competition in online retailing.

so correct option is c. An online retailer delivers organic groceries overnight.

6 0
3 years ago
The goal of utility maximization is to allocate your ______ in order to maximize your ______.
inn [45]
<span>The goal of utility maximization is to allocate your resources in order to maximize your satisfaction.
Utility maximization is a concept which is used in the economics which explains that when a person is making a decision to purchase anything, he/she prefer to get the greatest value that is possible but at the least amount of money.
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5 0
2 years ago
What is your proudest accomplishment and why
xeze [42]

Answer: Loving and accpeting myself for who I am

Explanation:

We live in a world where is hard to fill like you are accepted or up to society's "standards" overtime I have come to love who i am and appreicate myself its taken alot of effort and trust in myself which is why i feel its my proudest accomplishment! :))

6 0
3 years ago
An open market operation is the purchase or sale of _____ - _____ - by the _____ in the open market.
Natali5045456 [20]

<u>An open market operation is the purchase or sale of </u><u>government securities </u><u>by the </u><u>Federal Reserve System</u><u>  in the open market.</u>

What are open market operations?

  • The Federal Reserve uses open marketplace operations (OMOs), that are important banks' purchases and income of securities at the open marketplace, as a key device for wearing out financial policy.
  • The Federal Open Market Committee establishes the short-time period intention for open marketplace operations (FOMC).

What is an open marketplace purchase?

  • The buying or promoting of stocks in a agency through insiders is called an open-marketplace transaction.
  • An insider should report the important office work with the SEC earlier than carrying out an open-marketplace transaction which will follow insider buying and selling regulations.

Learn more about open market operations

brainly.com/question/16260032

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4 0
1 year ago
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