Question:
Please see the Demand and Cost information reproduced in the attached table
Answer:
The correct choice is A)
Profit if maximized where price is equal to $20.
At this price, MR = MC.
Please see the attached PDF.
Explanation:
The profit-maximizing choice for the monopoly will be to produce at the quantity where marginal revenue is equal to marginal cost:
That is, the point where MR = MC.
If the monopoly produces a lower quantity, then MR > MC at those levels of output, and the firm can make higher profits by expanding output.
Cheers!
If you are a girl the media expects you to be girly and like shopping and putting on makeup, some girls hate that stuff
Answer and Explanation:
The computation of the total budgeted selling and administrative expenses is shown below;
Utilities expense $2,800
Administrative salaries $100,000
Sales commissions 5 % of sales i.e. 5% of $860,000 $43,000
Advertising $20,000
Depreciation on store equipment $50,000
Rent on administration building $60,000
Miscellaneous administrative expenses $10,000
total budgeted selling and administrative expenses $285,800
Standard Oil
This was an American oil company that was into everything oil from refining to even the transportation, It was set up in 1870 by John D. Rockefeller as an organisation in the state of Ohio, it was the biggest oil refinery both home and abroad as at that time.
