All categories

2 years ago

if the firm depiced in figure 5 behaves like a perfectly competitive firm, it will chose the output level of

1 answer:

4 0

The profit-maximizing choice for a perfectly competitive firm will occur at the level of output where marginal revenue is equal to marginal cost—that is, where MR = MC. This occurs at Q = 80 in the figure.

Marginal revenue is the increase in revenue that results from the sale of one additional unit of output.

While marginal revenue can remain constant over a certain level of output, it follows from the law of diminishing returns and will eventually slow down as the output level increases.

<h3>How do u calculate marginal revenue?</h3>

To calculate marginal revenue, you take the total change in revenue and then divide that by the change in the number of units sold.

The marginal revenue formula is: marginal revenue = change in total revenue/change in output.

Learn more about marginal revenue here:

<h3>brainly.com/question/13444663</h3><h3 /><h3>#SPJ4</h3>

You might be interested in

On March 1 the price of oil is $60 and the July futures price is $59. On June 1 the price of oil is $64 and the July futures pri

AleksAgata [21]

Answer:

$59.50

Explanation:

Calculation to determine the effective price paid by the company for the oil

Using this formula

Net price paid=Buy oil-Profit from futures

Let plug in the formula

Net price paid=$64-($63.50-$59)

Net price paid=$64-$4.50

Net price paid=$59.50

Therefore the effective price paid by the company for the oil will be $59.50

3 0

3 years ago

Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.

Y_Kistochka [10]

Hi! I don’t know what any of this means but I hope you have an amazing day and I hope god/allah/etc. blesses you :)
sorry I couldn’t answer

4 0

3 years ago

The number-one cash crop in the united states was marijuana prior to 1890.

Ede4ka [16]

<span>A. </span>True. Based on the history of marijuana and other cannabis products, Marijuana was the number-one cash crop in the united states prior to 1890. Marijuana is a depressant and does not contain nicotine. It is a schedule I controlled substance, according to U.S. federal regulations where there is approximately 77% of illicit drug users smoke marijuana. The use of marijuana for medicinal purposes is illegal in the U.S but legal in Canada. The "reverse tolerance" turns out to be due to variations in the manner in which the drug is ingested is one of the long-term effect of Marijuana.

8 0

3 years ago

Stu purchased six put options on XY stock with a strike price of $45 and an option price of $2.60 per share. The option expires

marta [7]

Answer:

$100

Explanation:

A put option gives you the right to sell a stock at a specific strike price. In this case, the strike price is $45 per share and the market price of each share is $41.40.

The profit made with this investment = [($45 - $41.40) - $2.60] x 100* = $ x 100 = $100.

*Each option consists of 100 shares.

3 0

4 years ago

Kaelker corporation reports that at an activity level of 7,000 units, its total variable cost is $590,730 and its total fixed co

Paha777 [63]

Total variable cost at 7100=7100(590730/7000)=599169fixed cost=372750total cost=599169+372750=971919

8 0

3 years ago