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jek_recluse [69]
3 years ago
14

A firm producing good y recently increased monthly production from​ 1,500 units to​ 2,000 units. this had no impact on the marke

t price of good y. at the new production level of​ 2,000 units, the​ firm's average cost is​ $3.5 while its marginal cost of production is​ $4. the marginal revenue however is fixed at​ $5 for all levels of output. jake williamson is the operations head of the firm. jake feels​ that, since the firm has the​ capacity, it should have increased production further to​ 2,500 units which would have maximized profits. on the other​ hand, mathew hayden of the market research team anticipates an increase in price to​ $5.5 in the near future. he therefore claims that the firm may not be maximizing economic profit in the short run even at​ 2,500 units
Business
1 answer:
solmaris [256]3 years ago
6 0
The following that most strongly implied by this information is that at the current level of production, the firm is making a profit of $3000. Jake and Mathew will most likely agree on The firm should increase production from the current level. Mathew is assuming​ that no new firms enter the market in the short run.
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Trust based on a person's competence would be summarized by this team member's affectionate statement towards another team membe
Maslowich

Answer:

The correct answer is:

I trust you to be able to accomplish this task (C)

Explanation:

First of all, you have to know the meaning of the word competence, and competence is a collection of related relevant abilities, know-how and skills required to act effectively on a job or situation. Which is a clear message passed by the speaker in the statement "I trust you to be able to accomplish this task", because the speaker knows that his team member possesses the right skills to carry out a task successfully.

The statement in option D ( "I trust you to do the right thing." ) also tells a little about competence because one of the definitions of competence highlights being sane, and one needs to be sane to do the right thing, but it is only second choice when compared to the statement in option "C".

Next time when you are faced with this kind of question, identify the keyword ( which in this case is competence), and use that to answer the question.

7 0
3 years ago
The phrase "invisible hand" means that:
never [62]

Answer:

The correct answer is letter "B": The tendency of competition to cause individuals and firms to unintentionally promote the interests of society.

Explanation:

In his book "<em>An Inquiry into the Nature and Causes of the Wealth of Nations</em>" (1776), British economist Adam Smith (1723-1790) introduced the term "invisible hand" to refer that economic factors (buyers and sellers) naturally influence in the fluctuations of supply and demand without the need for the intervention of the government.  

According to Smith, buyers and sellers interactions act as an "invisible hand" arranging proper levels of competition between businesses and promoting the best interest of societies.

4 0
3 years ago
Each unit requires 2 pounds of direct materials, which cost $6 per pound. The company’s policy is to maintain direct materials i
ycow [4]

Answer: Budgeted Raw Material to be consumed in July.

Quantity         Price per pound             Total

10,200                 $6                             $61,200

Explanation:

As for the information provided, the material at month end in hand shall be:

20% of upcoming month's sale.

If in June at month end, the inventory in hand = 2,040 pounds of raw material.

Then, this represents 20% of total requirement of July.

Therefore, total requirement in July = \frac{2,040}{0.20} = 10,200\ pounds

This basically means:

Total inventory required =

Quantity         Price per pound             Total

10,200                 $6                             $61,200

5 0
3 years ago
The payroll register of Ruggerio Co. indicates $10,500 of social security withheld and $2,625 of Medicare tax withheld on total
Anna [14]

Answer:

From the information provided

Federal rate tax of earnings = 30000 × 0.6%

= 30000 × 0.006

= 180

State rate tax of earnings = 30000 × 5.4%

= 30000 × 0.054

= 1620

Medicare taxes = 2625

Social security taxes = 10500

Total payroll tax expenses = Medicare taxes + social security taxes + state rate tax on earnings + federal rate tax on earnings

= 10500 + 2625 + 180 +1620

= $ 14925

THUS,

JOURNAL ENTRY

___Accounts_______Debit ($)____Credit ($)

Payroll Tax Expense__ 14925

Social Security Payable___________ 10,500

Medicare Payable________________2625

FUTA Payable ___________________180

SUTA Payable ___________________1620

6 0
3 years ago
Read 2 more answers
The data-mining technique that finds groups in the data that are similar in some way is____.
Morgarella [4.7K]
The answer is "clustering"
7 0
3 years ago
Read 2 more answers
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