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ddd [48]
2 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]2 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

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$223,370

Explanation:

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3 years ago
The demand for money is the relationship between the quantity of money demanded and the​ _____, when all other influences on the
Maslowich

Answer:

The correct answer is letter "D": nominal interest​ rate; hold.

Explanation:

The demand of money refers to the amount of money people prefer to hold in cash instead of investment vehicles or assets. The demand for money is proportional to individuals' income and the interest rate. According to this approach, when the interest rates are higher, people prefer to invest. When interest rates fall, people prefer to hold cash.

Therefore, <em>the demand for money explains the relationship between the quantity of real money demanded and the nominal interest rate that people prefer to keep, remaining the same all other factors that influence the amount of money.</em>

5 0
3 years ago
Harvey's Wholesale Company sold supplies of $46,000 to Northeast Company on April 12 of the current year, with terms 1/15, n/60.
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Answer:

D) Cash 45,540 Accounts receivable 45,540

Explanation:

The journal entry is shown below:

Cash A/c Dr $45,540

        To Accounts receivable A/c  $45,540

(Being cash is received in respect of goods sold)

The computation is shown below:

= Sold value of supplies - the sold value of supplies × discount percentage

= $46,000 - $46,000 × 1%

= $46,000 - $460

= $45,540

Since the net method is used so we debited the cash account and credited the account receivable account.

8 0
3 years ago
In a given amount of time John can produce either 40 pounds of vegetables or 10 pounds of chicken. In the same amount of time Ge
aleksandrvk [35]

Answer:

Ten pounds of chicken to trade for at least <u>40</u> pounds of vegetables but not more than<u> 50</u> pounds of vegetables

Explanation:

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John             40                     10                4:1 (40/10) or 1:0.25 (10/40)

George          25                      5                 5:1 (25/5) or 1:0.20 (5/25)

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  • George is more (5X) productive in veggies than chicken, than John (4X). John is less unproductive in chicken than veggies (1/4th), compared to George (1/5th).  

So,  John will sell Chicken to George & George will sell veggies to John. Gains from trade are when each get trade ratio better than their their own trade off ratio.

  • It implies: John gets >' 4 pounds veggies per chicken pound' and George gets > '0.20 pound chicken per veggie pound'.
  • Unitary method:-  '1chicken : 4veggies' = '10chickens : 40veggies' and '0.20chicken : 1veggie' = '10chickens : 50 veggies' .

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