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spin [16.1K]
3 years ago
9

For which situation is the use of approximate numbers most appropriate? A) preparing your yearly taxes B) ordering programs for

a high school musical C) paying a cashier for a meal at a fast food restaurant D) the maximum number of basketball players allowed on the court at a time Eli
Business
2 answers:
olya-2409 [2.1K]3 years ago
5 0

Answer:

B. ordering programs for a high school musical

Explanation:

A) You need to pay fully for yearly taxes that is just life.

C) People here are picky so they want the full change

D) If you rounded it you would probably get to many people in the court

iVinArrow [24]3 years ago
4 0
B. Ordering programs for a high school musical. 

Each of the other answer choices requires an exact number because there are laws regarding paying yearly taxes based on exact income, a cashier will only sell you a meal for exactly the amount that they want to charge, and the maximum number of basketball players allowed on the court is standardized through rules for playing the game. Ordering programs can be an estimate. 
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A firm in a perfectly competitive market has a fixed cost of $1,000 and a variable cost of $500 while it is earning the revenue
grin007 [14]

Answer:

Firm should not shut down, as it is able to cover its Average Variable Cost

Explanation:

Perfect Competition firms in Short Run : The firms produce even if their average revenue (price) < their average total costs (AC). They continue production until Average variable cost (AVC) ≥ per unit price (P) i.e average revenue (AR). This is called Shut Down Point. P lower beyond AVC implies that firm won't continue even in short run.

Given : Variable Cost (VC) = 500 ; Revenue (R) = 510

Average Variable Costs & Average Revenue are variable costs & revenue, per unit quantity. AVC = VC / Q ; AR (P) = R / Q

R i.e 510 > VC i.e 500

So, R/ Q i.e AR is also > VC / Q i.e AVC

Since AVC > AR (P), firm should not shut down

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