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
ddd [48]
3 years ago
9

Assume a purely competitive firm is selling 200 units of output at $3 each. At this output, its total fixed cost is $100 and its

total variable cost is $350. This firm is incurring losses. is maximizing its profit. is making a profit, but not necessarily the maximum profit. should shut down in the short run.
Business
1 answer:
olga55 [171]3 years ago
8 0

Answer:

correct option is maximizing its profit

Explanation:

given data

firm is selling  = 200 units

output = $3 each

fixed cost = $100

variable cost = $350

solution

we get here Total average cost that is

Total average cost = variable cost + fixed cost .............1

put here value

Total average cost  = 350 + 100

Total average cost  = $450

and

Cost per unit will be

Cost per unit = average cost ÷ no of units   ............2

Cost per unit = 450  ÷  200

Cost per unit = $2.25

so here firm is incurring per units is $2.25 but here earning per unit is $3 .

so that here firm is earning economic profit

as here market price is greater than earning maximum profit

so correct option is maximizing its profit

You might be interested in
Al Dente Pasta Company overstated its inventory by $10 million at the end of 2021. The discovery of this error during 2022, befo
MAXImum [283]

Answer:

Retained earnings would be debited and inventory would be credited for $10 million each.

Explanation:

In the given scenario Al Dente Pasta Company overstated its inventory by $10 million.

This is an overstatement of assets of the company.

This also gives an understatement of the retained earnings of the company.

Adjusting entry in 2022 will now require Retained earnings would be debited and inventory would be credited for $10 million each.

7 0
3 years ago
Discuss which financial management practices are least effective in creating and monitoring an operating budget.
Vinil7 [7]

Top down/bottom up budgets, lack of control, poor inventorying, lack of staff investment, over control are the least effective financial management practices in creating and monitoring an operating budget.

The operating budget includes the expenditures and revenues generated by the company's daily business functions. The operating budget focuses on operating expenses, such as the cost of goods sold in the market, also known as the cost of sold goods (COGS), and revenue or income. COGS is the cost of direct labor and direct materials used in the production process.

The operating budget also includes overhead and administration costs that are directly related to manufacturing goods and providing services. However, capital expenditures and long-term loans will not be included in the operating budget. Budgets for sales, production process or manufacturing, labor, overhead, and administration are a few examples of frequently utilized operating budgets.

Learn more about operating budget here:

brainly.com/question/14346551

#SPJ4

6 0
2 years ago
Which of these situations does NOT require a food handler to wash their hands? A. After handling garbage or dirty dishes B. Afte
Tamiku [17]
The correcto answer for this question is the letter c
7 0
3 years ago
Read 2 more answers
A ________ management system often consists of modules such as budget planning, debt management, travel and expense management,
sergejj [24]

Answer:

Financial

Explanation:

Financial management refers to managing an organization or program's resources to meet it's goals and objectives as quickly as possible by making use of resources to carry out planned activities. A financial management system is the approach employed by an organization to govern its income, expenses and assets with the sole purpose of attaining sustability.

8 0
3 years ago
The system that compares actual results to a budget so that significant deviations can be flagged and investigated further is ca
horrorfan [7]

The system that compares actual results to a budget so that significant

deviations can be flagged and investigated further is called management by

exception

Management by exception is the type that helps the managers to focus on

the most important variances while ignoring unimportant changes between

the budget and actual results.

This is commonly used in budgets preparation to ensure that the important

factors which may affect project completion are taken into consideration to

prevent shortages.

Read more on brainly.com/question/25408603

4 0
2 years ago
Other questions:
  • Miller Mining acquired rights to a tract of land with the intent of extracting from the land a valuable mineral. The cost of the
    10·1 answer
  • Chevron supported internal improvement efforts by getting its suppliers involved using a unified _________ approach that involve
    7·2 answers
  • Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The comp
    9·1 answer
  • Middleton Corporation uses the normal costing system to determine the amount of overhead to be applied to production. The predet
    9·1 answer
  • Your firm is considering the purchase of a new office phone system. You can either pay $ 32 comma 500 ​now, or $ 900 per month f
    10·1 answer
  • Differentiate between piecemeal and time related salary determination methods
    5·1 answer
  • Sales revenue for a sporting goods store amounted to $ 535 comma 000 for the current period. All sales are on account and are su
    9·1 answer
  • Ann chovies, owner of the perfect pasta pizza parlor, uses 20 pounds of pepperoni each day in preparing pizzas. order costs for
    13·1 answer
  • Externalities Musashi plants a variety of trees, shrubs, and flowers in his yard. The landscaping beautifies the neighborhood. W
    9·1 answer
  • Q50 Four years ago, Ship Express purchased a mailing machine at a cost of $218,000. This equipment is currently valued at $97,40
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!