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SVETLANKA909090 [29]
3 years ago
11

If a competitive firm can sell a ton of steel for $500 a ton and it has an average variable cost of $400 a ton, and the marginal

cost is $600 a ton, the firm should:
Business
1 answer:
Lena [83]3 years ago
8 0
<span>If a competitive firm can sell a ton of steel for $500 a ton and it has an average variable cost of $400 a ton, and the marginal cost is $600 a ton, the firm should reduce its output. The reason for the reduction of output is the marginal cost it will have. The marginal cost exceeds the selling price of the product which is a bad sign for the company.</span>
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What are five foundations of economics? increasing trade between two countries makes everyone in those countries better off.
geniusboy [140]

The five foundations of trade are:

  • incentives
  • tradeoffs
  • opportunity cost
  • marginal thinking,
  • principle that trade creates value.

<h3>Why do we engage in trade?</h3>

There are five main foundations of trade that are the reason why people engage in trade. One of them is the profit incentive to make money from trade. Another is the tradeoffs that people are forced to make to survive.

Opportunity cost also leads to trade because people give up one thing for another and so may have to sell the thing they gave up to receive the thing they want. There is also the principle which posits that when we trade, value is created. Finally, there is marginal thinking which is thinking along the lines of the benefit of one additional unit.

Find out more on the foundations of trade at brainly.com/question/2710473

#SPJ1

5 0
1 year ago
Harold Corporation has an existing contract to sell 200 units of product to a customer at $10 each. After the delivery of 150 un
nika2105 [10]

Answer:

C. $142.50

Explanation:

From the existing contract,

200 units for $10 each

150 units were delivered so, 10 x 150= $1500.

The customer wants to extend the contract for additional 100 units at $9.50 each.

So,what is the revenue to Harold Corporation for these additional units which cost $9.50 for the next 15 units.

Therefore, 15 x 9.50=  $142.504

4 0
3 years ago
Read 2 more answers
Jayhawk had previously purchased merchandise for $40,000 The company returned $4,000 of the merchandise previously purchased bec
ki77a [65]

Answer:

the options are missing, but I wrote down the two possible answers

the journal entry to record the purchase assuming perpetual inventory method:

Dr Merchandise inventory 40,000

    Cr Accounts payable 40,000

the journal entry to record the damaged merchandise assuming perpetual inventory method:

Dr Accounts payable 4,000

    Cr Merchandise inventory 4,000

<h2>OR</h2>

the journal entry to record the purchase assuming periodic inventory method:

Dr Purchases 40,000

    Cr Accounts payable 40,000

the journal entry to record the damaged merchandise assuming periodic inventory method:

Dr Accounts payable 4,000

    Cr Purchases returns 4,000

8 0
3 years ago
John Daniel opened a medical practice in Sacramento, California, and had the following transactions during the month of January.
spayn [35]

Answer:

Explanation:

The journal entries are shown below:

1. Cash A/c Dr $34,000

       To Common stock A/c $34,000

(Being the cash is received in exchange of common stock)

2. Medical supplied A/c Dr $17,000

          To Account payable A/c $17,000

(Being the medical supplies are purchased on account)

3. Cash A/c Dr $1,600

        To Service Revenue A/c $1,600

(Being the cash is received for service performed)

4. Office Rent Expenses A/c Dr $3,000

           To Cash A/c $3,000

(Being the office rent expense is paid for cash)

5. Accounts Receivable A/c Dr $7,000

            To Service revenue A/c $7,000

(Being the service revenue is recorded)

4 0
3 years ago
A company produces products at 2 plants each of which have a capacity of producing 75 units. 50 units of each product must be sh
zalisa [80]

Answer:

the answer is 6

Explanation:

In this case we would need to have a combination of each plant with each customer. So the variable would be in this way (3C X 2P)

              Customer1            Customer2           Customer3

Plant1      P1C1                      P1C2                     P1C3

Plant2     P2C1                     P2C2                    P2C3

Once you have this you can calculate the best combination to minimize the cost of shipping

7 0
3 years ago
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