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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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Answer:

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Explanation:

The computation of the current bond price is shown below:

Given that

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The formula is shown below:

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After applying the above formula, the current bond price is $1,147.20

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