The answer is marginal revenue (MR) curve above $22.
Explanation:
Jim and Lisa Groomers will maximize its accounting profit when taking it to 0 its economic profits when marginal revenue = marginal costs.
Economic profits are not the same as accounting profits because they include the opportunity costs of investing the money somewhere else. That is whythe long run firm is not able to make economic profits since as they exist, new competitors will enter the market. But in the case of the shoert run, the firms are able to make economic profit, but by doing so, they cannot maximize their accounting profit.
Economic profit = account profit = Opportunity profit
Opportunity cost are extra costs or benefitslost from choosing one activity or investment over another one.
Chances are that when your company, which sells consulting services to multinationals, is forecasting legal decisions in <u>domestic markets</u>, the predictions will be MUCH MORE accurate than when forecasting legal decisions in <u>foreign markets</u>.
<h3>What is the difference between domestic and foreign markets?</h3>
The difference between domestic and foreign markets is that a company offering forecasting legal decisions will be very more familiar with the domestic market than the decisions that can be taken in foreign markets.
Chances are that when your company, which sells consulting services to multinationals, is forecasting legal decisions in <u>domestic markets</u>, the predictions will be MUCH MORE accurate than when forecasting legal decisions in <u>foreign markets</u>.
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Facilities, factories, and production lines with very large equipment are all classified as installations.
What is production?
Production is the process of combining different immaterial inputs (plans, knowledge) with material inputs to create something that is intended for consumption (output). It is the process of producing an outcome, a good as well as service that has value and enhances people's utility. Production theory, a branch of economics that focuses on production, is entwined with consumption (or consumer) economic theory. Utilizing the initial inputs productively leads to the production process and the output (or factors of production). Land, labour, as well as capital are regarded as the three primary production factors and are referred to as primary producer products or services. Both the output process and the final product do not significantly change these essential inputs or turn them into integral parts of the final product.
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When a pizza maker lists the price of a pizza as $10, this is an example of using money as a unit of account
<h3>What is a unit of account?</h3>
A unit of account is a standard numerical unit of money used for measuring goods and services.
According to the question, the price of the pizza is a unit of account because it was used to measure the price of the goods.
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The appropriate response is human microbiomes. The microbiome is characterized as the aggregate genomes of the organisms that live inside and on the human body. We have around 10 fold the number of microbial cells as human cells.
The human microbiota comprises of the 10-100 trillion harmonious microbial cells harbored by every individual, principally microorganisms in the gut; the human microbiome comprises of the qualities these cells harbor
