short run; the quantity of output where profits are highest
<h3>What is a firm?</h3>
A firm is a for-profit enterprise that typically takes the form of a partnership and offers professional services like accounting or legal counsel. According to the philosophy of the firm, businesses exist to maximise profits.
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Answer and Explanation:
profit will increase to zero
.
Currently the firm is incurring loss as price is less than ATC. In the long run firms will exit.
Hi there
The accounts receivable turnover ratio equals net credit sales divided by average accounts receivable
So
5.0= Net credit sales/ (20,000 + 22,000/2)=
5 x 21,000= 105,000
Net Credit Sales= 105,000
Hope it helps
Answer:
a. fixed cost
Explanation:
Rent is always negotiated and stated in the tenancy or lease agreement. The lease or tenancy agreement is reviewed either annually or after every two years. The rent amounts remain the same until the time a tenancy agreement is reviewed.
Fixed costs are the business expenses that remain the same throughout the financial period. A business has to incur fixed costs as long as the business is operational. The level of business activity or output does not affect fixed costs. Rent is a good example of fixed costs. A business has the pay the same amount of rent regardless of its production level.