The general journal entry of Mr. bravo that formed a new corporate that he names it Bravo Unlimited,
On january 1, 2016
Debit Cash for 12,000 and credit capital stock for 12,000
And it will balance for the amount of 12,000 on january 1, 2016
1/1/16 Cash 12,000
Capital Stock 12,000
Answer:
Customer orientation to pricing
Explanation:
If a perfect competition firm is producing a quantity where mc < mr, then profit can be increased by increasing production.
Because competing businesses compel them to adopt the market's current equilibrium price, a perfectly competitive firm is referred to as a price taker. A company will forfeit all of its sales to rivals if it increases the price of its product by even a penny in a highly competitive market.
There are numerous buyers and sellers in a market with perfect competition, and prices always reflect supply and demand. The businesses can enhance profit by raising output if it is producing at a level where MR > MC, such as 40 or 50 packs of raspberries. This is because the marginal revenue is higher than the marginal cost
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