When the level of output, marginal cost is $1 and average variable cost is $1.50. The firm should "produce no output units".
<h3>What is purely competitive market?</h3>
Perfect competition refers to a fictitious market structure. If there is perfect competition, there are no monopolies.
The following characteristics of this kind of structure are crucial:
- All enterprises sell the same product, which is a homogeneous or commodity good.
- Every business is a price taker, meaning that they have no control over the market price for their goods.
- Market share has no bearing on price adjustments.
- The product being supplied and the pricing each business is seeking with in past, present, or future are all completely or perfectly known to buyers.
- Resources such as labor and capital are totally movable.
- There are no fees for businesses to enter or exit the market.
Each genuine market can be categorized as imperfect since they all occur beyond the level of the ideal competition model.
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Answer:
Debit Office supplies, $500; credit Accounts payable, $500.
Explanation:
Purchase of supplies on credit will increase the supplies and increase the account payable balance as well. Supplies account is an asset account therefore it has debit balance and Account payable is a liability account so it has credit balance. To reflect the event following Journal entry is recorded.
Debit Office supplies $500
Credit Accounts payable $500
<span>Gross domestic product </span>occurs when the amount of of capital per worker increases. The answer is letter A
Water is the home of fish. If there won't be water then there won't be fish as fish can't survive without water. Similarly, education is like the water and profession is like the fish. Education makes a person skilled, trained, capable to perform a job. If someone tries to do a job without gaining some sort of education then it will be very hard for them to do that particular job properly. Education provides us knowledge and skill to perform any task in a job efficiently and effectively. Education helps to develop one's confidence, knowledge, skills and makes one ready to do any type of job. Education makes a direct contribution to the production of skilled manpower. So without education there won't be any profession.
Carolyn should contact them and offer her services on the job, furthermore she should set a meeting to discuss the specifics of the project.
