<span>In a
perfectly competitive market, the total revenue for
a firm
is the product of price and quantity. Meanwhile the average revenue is
calculated by dividing total revenue with output quantity. And then the Marginal revenue is
calculated by dividing the change in total revenue by change in quantity.
Profit is maximized when Marginal revenue equals Marginal cost.</span>
Therefore the answer to
this is:
marginal revenue equals
“average revenue, the price, and marginal cost for all levels of output”
The objectives of the board of directors will be that the commercial insurance cannot own the new insurer company because a new insurer will be formed based on mutual insurers where it will be controlled.
<h3>What is insurance?</h3>
Insurance generally refers to a contract between parties for the protection of financial loss, where one party (Insurance Company) promises to make good of the losses of the other party (Insured). It is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment.
Commercial lines insurance involves protection for business and organization. Commercial insurance cannot own the new insurer company because a new insurer will be formed based on mutual insurers where it will be controlled.
Also, one of the objectives of protection is to pool the risk of a sufficiently large number of insured, hence insurance important because it helps businesses to mitigate loss.
Learn more about insurance here: brainly.com/question/4710102
Answer:
The answer is, wrapping up activities.
Explanation:
Adjourning stage is the last part of the team formation and continuation. This stage usually arrives after the purpose of the team is achieved. Or it could happen if the objectives are not achieved and the team decides to seperate and move on from there.
Wrapping up the team activities can include preparing the final reports, giving feedback, analysing the results, etc.