1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Bogdan [553]
3 years ago
9

Which of the following statements is true? Group of answer choices A perfectly competitive firm that seeks to maximize profits w

ill not be resource-allocative efficient. If the demand curve and the marginal revenue curve weren't the same curve for a perfectly competitive firm, then the firm would not be resource-allocative efficient. Resource allocative efficiency exists when a firm produces its output at the lowest possible per unit cost (lowest ATC). Productive efficiency exists when firms produce the quantity of output at which price equals marginal cost.
Business
1 answer:
AfilCa [17]3 years ago
3 0

Answer:If the demand curve and the marginal revenue curve weren't the same curve for a perfectly competitive firm, then the firm would not be resource-allocative efficient.

Explanation: Demand curve is a graphical representation of the rate of change of demand as the price of a product changes.

Marginal revenue curve is a graphical representation of the rate of change of marginal revenueas the production and the quantity of output produced changes.

For a perfectly competitive firm with no market control, the marginal revenue curve is a horizontal line.

FOR A PERFECTLY COMPETITIVE FIRM THE MARGINAL REVENUE CURVE AND THE DEMAND CURVE SHOULD BE THE SAME IF THE FIRM ALLOCATES ITS RESOURCES EFFICIENTLY.

You might be interested in
Todd and his brother Robert are going to use 512 square feet of their backyard for skateboard ramps. The shape of the backyard i
Sergio039 [100]
The first answer is 512=2w^2 and the width is 16 and the length is 32
7 0
3 years ago
Read 2 more answers
In a continuous review system, the inventory level for an item is constantly monitored, and when the reorder point is reached, a
Tasya [4]
<span>One variable is demand, which states that the inventory item of interest has a constant demand per period.

Demand is the insistent request of an item. When demand changes of a good or service, it changes the companies revenue because when the item is in high demand, they often sell a lot.  On the other hand, when an item is in low demand, they do not sell very much. </span>
6 0
3 years ago
A leftward shift in the supply curve for a good may be caused by any of the following except A. consumer expectation of an incre
nydimaria [60]

Answer: A. consumer expectation of an increase in their future income.

Explanation:

The supply curve is simply a graph that shows the relationship that is between the price of a particular good and the amount of quantity that is supplied.

A leftward shift in the supply curve for a good simply means that less of that good is supplied. All tye options will cause less of the goods to be supplied except consumer expectation of an increase in their future income.

3 0
3 years ago
Read 2 more answers
Sales revenue$ 4,000Purchases of direct materials$ 400Direct labor$ 450Manufacturing overhead$ 620Operating expenses$ 650Beginni
djyliett [7]

Answer:

Direct material used= $420

Explanation:

Giving the following information:

Sales revenue= $4,000

Purchases of direct materials= $400

Direct labor= $450

Manufacturing overhead= $620

Operating expenses= $650

Beginning raw materials inventory= $200

Ending raw materials inventory= $180

Beginning work in process inventory= $320

Ending work in process inventory= $410

Beginning finished goods inventory= $250

Ending finished goods inventory= $200

Direct material used= ?

Direct material used= beginning inventory raw material + purchase - ending inventory raw material

Direct material used= 200 + 400 - 180= $420

5 0
3 years ago
Using the following year-end information for WorkFit calculate the acid-test ratio:
ASHA 777 [7]

Answer:

0.97

Explanation:

The computation of the acid-test ratio is given below:

= Quick assets ÷ current liabilities

= (cash + short term investment + account receivable + supplies) ÷ (accounts payable + wages payable)

= ($58,110 + $14,000 + $58,000 + $5,600) ÷ ($108,000 + $31,900)

= $135,710 ÷ $139,900

= 0.97

7 0
2 years ago
Other questions:
  • When Shondra shops at the warehouse club, she buys paper towels and tissues in bulk. What type of packaging do these products co
    15·1 answer
  • A bicycle chain is pulled tightly so that mn is a common tangent of the gears?
    13·2 answers
  • A financial analyst determines the yearly research and development investments for 50 blue chip companies. She notes that the di
    8·1 answer
  • Which of the following would be included in the Lease Receivable account? I. Guaranteed residual value. II. Unguaranteed residua
    12·1 answer
  • A purchaser of the assets of a business must allocate the purchase price to the individual assets in accordance with the written
    8·1 answer
  • Suppose the S&amp;P 500 index is currently 950 and the initial margin is 10%. You wish to enter into 10 S&amp;P 500 futures cont
    12·1 answer
  • Which of the following methods of employee evaluation is best used when employees are heavily involved in teamwork? Critical inc
    6·1 answer
  • If a 1 percent decrease in price results in less than a 1 percent increase in the quantity demanded, demand is Multiple Choice c
    11·1 answer
  • Jennifer is the CEO of JustFixIt Inc., a firm that merges technology with commercial hardware. She has been struggling with the
    9·1 answer
  • In making the best economic choices, consumers compare the benefits of the choice to.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!