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BabaBlast [244]
3 years ago
12

Mikail's perfectly competitive camera memory card–producing factory is making positive economic profits. If the price of memory

cards is $9, if Mikail's output is 3,000 cards a month, and if his monthly average total cost is $7, what are his monthly profits? $27,000 $6,000 $21,000 $2
Business
1 answer:
irina1246 [14]3 years ago
4 0

Answer:

B. $6000

Explanation:

Given that

Price = $9

Average total cost (ATC) = $7

Output (Q) = 3000

Two methods can be used in calculating profit in this case.

The first method is

Profit = (price - ATC) × Q

= (9 - 7) × 3000

= 2 × 3000

= $ 6000

The second method is

Profit = Total revenue (TR) - Total Cost (TC)

Where TR = Price × Q = 9 × 3000 = $27000

TC = ATC × Q = 7 × 3000 = $ 21000

Therefore,

Profit = 27000 - 21000

= $6000

Any method used will result to the same answer.

NOTE THAT,

ATC = Total cost / Q.

So change of formula was used to obtain Total cost from this formula.

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Answer:

Number of new shares:

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Answer:

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Explanation:

Then UCC code was established because it was becoming increasingly difficult for companies to transact business across state lines given the various state laws.

The Uniform Commercial Code (UCC) is important since it helps companies in different states to transact with each other by providing a standard legal and contractual framework.

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