The demand and marginal revenue for a perfectly competitive firm are horizontal , whereas the demand and marginal revenue for monopolists are downward
<h3>What is meant by marginal revenue?</h3>
The increase in revenue that comes from selling one more unit of output is known as marginal revenue. Although marginal revenue can remain constant at a certain level of output, it will eventually start to decline as the output level rises due to the law of diminishing returns. The increased total revenue produced by increasing product sales by one unit is known as marginal revenue and is a key topic in microeconomics.
An individual, group, or business that dominates and controls the market for a particular commodity or service is referred to as a monopolist. Due to the absence of substitute products or services and competition, the monopolist has the ability to command high prices. According to Irving Fisher, a monopoly is a market where there is "no competition," which results in a situation where one person or business is the only supplier of a specific good or service.
Hence, The demand and marginal revenue for a perfectly competitive firm are horizontal , whereas the demand and marginal revenue for monopolists are downward.
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Answer:
$15
Explanation:
Consumer surplus is the price the consumer pay for good/service minus the amount the consumer is willing to pay for it.
✓Mr. and Dr. Brown would be willing to pay $31
✓Mr. Smith would be willing to pay $28
✓Professor Jones and Mr. Jones would be willing to pay $22
Elizabeth PRICE for babysitting each set of children for an evening = $22
Consumer surplus= Σ (price that the consumer is willing to pay- Price of the good/service is sold)
= [(31-22)+(28-22)+(22-22)]
= 9+6+0
=$15
Hence, Consumer surplus is $15
Answer:
C saving
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Answer:
Organizing
Explanation:
Organizing is the most important role in any organization as it defines that the work is distributed among employees so that the target can be achieved timely. Also during the organizing process the supervisor coordinates with their employees.
Therefore the correct answer is organizing as it includes the task which has been created and authority relationship.
Answer:
$3,000 credit
Explanation:
Given the followin currency exchange rates for 1 rand are as follows:
January 1 $0.25 = 1 rand
Average for the year 0.28 = 1
December 31 0.31 = 1
Net income conversion Investment using January 1 rate = 50,000 rand × $0.25 = $12,500
Net income conversion Investment using December 31 rate = 50,000 rand × $0.31 = $15,500
Credit (Debit) = $15,500 - $12,500 =$3,000
Therefore, the translation adjustment that Yang will report at the end of the current year is $3,000 credit since the difference is positive.
