The long run will see the supply curve of a completive firm changing to the b. portion of the marginal-cost curve that lies above the average-total-cost curve.
<h3>What is the long-run supply curve in a perfect competition?</h3>
In a perfect competition, a company will only produce goods and services at a level where the marginal cost curve is above the average total cost in the long run.
This means that the supply curve will be the marginal cost curve but only the portion of this curve that is above the long-run average total cost curve.
The reason for this is that in the long-run., all the costs in a perfectly competitive firm are considered variable and so they can afford to avoid supply mishaps in the short term.
In conclusion, option B is correct.
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Answer:
Labor Efficiency Variance = $12,480 Unfavorable
Explanation:
Labor Efficiency variance calculates the capacity utilization of labor.
Formula for Labor Efficiency Variance = ( Standard Labor Hours - Actual Hours) Standard Rate
Standard Labor hours for actual output = 10,000 units 2 hours = 20,000 hours
Standard Rate = $12.00
Actual Hours = 21,040 hours
Therefore, Labor Efficiency Variance = (20,000 - 21,040) $12
= - $12,480
Since the value is negative it is unfavorable as actual hours is more than standard hours.
Answer:
The kernel of an atom is neutral
Answer:
the budgeted cost of goods sold is $9,600
Explanation:
The computation of the budgeted cost of goods sold is shown below:
As we know that
Budgeted cost of goods sold = Beginning inventory + Purchase - Ending Inventory
= $2,400 + $8,600 - $1,400
= $9,600
Hence, the budgeted cost of goods sold is $9,600