A firm could continue to operate for
years without ever earning a profit as long as it is producing an output where
<span> B. MR
>AVC</span>
<span>MR stands
for marginal revenue which is the sale price of a single item sold. On the
other hand, AVC or the average variable cost is the firm’s variable costs
divided by its output that is produced.</span>
Answer:
A perfectly elastic demand curve means that the firm can sell as much output as it chooses at the current price.
Explanation:
The perfectly elastic demand implies that the demand curve is horizontal line parallel to the X axis. The price is fixed at a point and the firm can sell any amount of output at this point. The demand is infinite at the given price level. If the firm makes any changes in this price level, the demand will become zero.
Answer:
B
Explanation:
In comparison to standards that apply to consumers, the UCC imposes on merchants Special business standards.
Answer:
d.) Jones is an incidental beneficiary and has no right to sue for Ace Construction's breach of the contract.
Explanation:
Jones was not a direct party to the contract, in fact, any profit which he was supposed to receive was incidental in nature and thus he cannot sue Ace Construction's breach of the contract.
Answer: Informational
Explanation: These roles refers to the collection, dissemination and transmission of information by the manager. This role of the manager depicts how suitable a manager in decision making as the information collected is usually related to some important decision to be made.
In the given case, Julia tries to collect all the relevant information from different sources such as staff meetings. She collected all the information with objective of making the product suitable for customer needs and preferences.
Thus, we can conclude that Julia likes to play informational role.
