Thats correct...blind spots are always there
The correct answer is A.
A company that seeks profit maximization in a competitive market needs to fulfill the following condition:
<em>price = marginal cost </em>
- The marginal cost refers to the cost endured when producing one extra unit
- In a competitive market firms are price takers, hence the price equals the average revenue and the marginal revenue as well.
- When deciding the amount to be produced, firms need to use the equality : marginal revenue = marginal cost, which in a competitive environment is translated into: price = marginal cost
In the present example, the firm could only add an extra worker if the increased marginal cost (13) was not exceeding the price (12). As this increase in fact occurs, it is better that the company stays with nine employees.
SOCIAL LOAFING is the condition that often develops in large groups when tasks are neglected, because it is impossible for any one person to receive credit (or blame).
Individuals in a group exert less effort in accomplishings tasks compared to when they work alone.
Sally should put her gift into a bank account. Bank accounts are much safer than a random place under your bed or in your shoes. Bank accounts also offer many benefits. (if you would like to learn more let me know thanks, have a great day)
-Agarvated
