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Paha777 [63]
3 years ago
10

1. Demand curves faced by individual firms in a competitive market are thought to be perfectly elastic while the demand curve fa

ced by a monopolist is much steeper. a. Why do individual firms in a competitive market face a perfectly elastic demand curve? b. Why do monopolists face a downward sloping demand curve? c. Compare the MR curves for a competitive firm and a monopolist
Business
1 answer:
eimsori [14]3 years ago
5 0

Answer:

A). The demand curve looked by the flawlessly serious firms are splendidly versatile this is a result of the items selling in the ideal rivalry. The items are indistinguishable so no firm has power over the market cost, in the event that one firm builds the cost of the item the purchasers will quickly move to the result of different firms on the grounds that the items are indistinguishable. No firm has the motivator lessen the cost of their item. So the interest bend would be a level straight line corresponding to the X pivot, this demonstrates the interest is splendidly versatile. A cost increment will bring the amount requested to zero.  

B). The monopolists is just the single vendor in the market, so he can charge any value he needs, yet the amount requested will be relied on the value he charges. For instance in the event that he charges a significant expense the amount demanded will be very less and the other way around. So the monopolist is capable sell more at lower costs just, the descending inclining request bend shows the negative connection between the cost and the amount requested.  

C). In the ideal rivalry there is consummately flexible interest so the MR curve is likewise the interest curve of the firm. For the monopolist the MR curve lies underneath the interest curve, as the costs go bring down the MR decreases.

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Answer:

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Explanation:

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= 4 × 3

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Five employees can produce a total of:

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So, the increase in total product of labor as I increase the labor from 3 to 5 employees:

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3 0
3 years ago
Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit margin (ratio of gross profit t
Strike441 [17]

Answer:

The gross profit margin of Candy Company is 65% (second option)

Explanation:

The gross profit margin is defined as:

Mg = (sales - costs) / price of sales  

If for Candy Company the cost are $112,000 and sales $320,000 then the gross profit margin is:

Mg = ($320,000- $112,000) * 100% / $320,000  =  

Mg = $208,000 * 100% / $320,000  =  0.65 * 100%

Mg  =  0.65 * 100%  

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6 0
3 years ago
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spin [16.1K]

Answer:

At year-end, factory overhead is $21,000

Explanation:

Predetermined overhead rate = (Estimated overhead costs/Estimated direct labor costs)

Predetermined overhead rate = ($404000 / $2020000) = 20%*Direct labor costs

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Applied overhead costs=$362000.

Hence balance in factory overhead account at year end = $383,000 - $362,000  

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8 0
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Novosadov [1.4K]

The correct answer to this open question is the following.

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6 0
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