If firms are producing at a profit-maximizing level of output where the price is less than the average total cost <u>economic</u><u> profits must be zero</u>.
Profit-maximizing is the process of determining the most effective way to maximize earnings, either in the short or long term. It primarily focuses on identifying the price and output level that generates the greatest profit. It is a crucial premise that supported the development of numerous economic theories, including the pricing and production theories.
Profit maximizing is the sole goal of organizations, and conventional theories are built around this idea. It is also viewed as the organization's most rational and fruitful business goal. It aids in determining corporate organization behavior and the impact of various economic conditions.
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Answer: x-inefficiency.
Explanation: Since it does not face any competition in its industry, the actions of Metropolitan Power and Light are an example of x-inefficiency which is a situation in which monopolies find themselves wherein they do not have to act efficiently since they are protected from competitive pressures. X-inefficiency is also applied to analyzing the average costs in imperfectly competitive markets whose average costs are higher than they would be if the market was more efficient.
Answer:
C) hierarchy.
Explanation:
A unit level cost is a cost incurred every time one unit is produced, e.g. a bottle.
A batch level cost is a cost related to a group or batch of units produced, e.g. a box containing 20 units.
A product sustaining level cost is a cost related to the activities undertaken to support an individual type of product, e.g. software updates.
A facility level cost is a cost incurred in order to maintain a productive facility working, e.g. lighting and cleaning costs.
Answer:
The answer is, wrapping up activities.
Explanation:
Adjourning stage is the last part of the team formation and continuation. This stage usually arrives after the purpose of the team is achieved. Or it could happen if the objectives are not achieved and the team decides to seperate and move on from there.
Wrapping up the team activities can include preparing the final reports, giving feedback, analysing the results, etc.
Answer:
$1,305,600
Explanation:
Date of acquisition = Jan, 1 2016
Cost of purchase = $1,904,000
Initial useful life - 15 years
Initial amortization - 1904000/14
= $126,933
Date of review of amortization policy -2019
Accumulated amortization before 2019 -126,933.33*3=380800
Remaining useful years at December 2019 7
Amortization in 2019 =1904000-380800/7 =217,600
Carrying value at December 2019 = 1904000 - (380800 +217600) =1305600 Please note that change in amortization policy can only be applied progressively and not retrospectively
