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Harrizon [31]
3 years ago
10

A perfectly competitive firm will produce the quantity of output at which _______ = _______ to determine the profit maximizing o

r ____________, ___________level. In order to produce additional units of output we need the following:
a. additional hours of labor at $15 per hour
b. additional units of material at $2 per unit
c. additional pounds of zinc at $1 per pound
What is the cost, the above statement is referring to?
Business
1 answer:
pishuonlain [190]3 years ago
7 0

Answer:

Price; marginal cost; cost minimizing; output; Cost of production or cost of inputs involved in production

Explanation:

In perfect competition a firm is in equilibrium when its marginal cost of production is equal to the price of its product. The firm will be able to maximize profit or minimize cost at this point.

The demand curve is a horizontal line, which means demand is perfectly elastic. A change in the price will cause the demand to become zero.

The cost mentioned here is the cost incurred to employ inputs in the process of production, which is an explicit cost.

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Managerial accounting differs from financial accounting in that managerial accounting A. is required by Generally Accepted Accou
snow_tiger [21]

Answer:

The correct option is (b)

Explanation:

Managerial accounting is for internal purpose for the managers for decision making. It is not mandatory as per GAAP, unlike financial accounting. Transactions are recorded as per the understanding of managers and not as per specific standards,

Managerial accounting focuses on data being relevant and not necessarily objective. Since, it caters to internal users, it is customized as per their requirement. Financial accounting, on the other hand needs to be highly objective as it caters to a wider audience who need transparent and reliable financial information.

Therefore, managerial accounting focuses on data relevance over data objectivity.

4 0
3 years ago
Leigh has three children but has not written her will which danger will she more than likely face if she dies without a will?
labwork [276]
Her children will not inherit any of her assets
4 0
3 years ago
Which of the following features of information systems can be used to help a business increase production and save time?
svlad2 [7]
Automated tasks      
 
 
 
 
 
 
 
 ......................................................................................................................                                                                                  
4 0
3 years ago
Jackie has been reading about international trade and that one nation has the ability to produce a specific product more efficie
ludmilkaskok [199]

Answer: (A) Cooperative advantage

Explanation:

  A cooperative advantage is the term which is used by an organization for providing the various types of benefits and advantages to all the employees in the company and it also helps in achieving the specific goal in an organization.

 The main objective of the cooperative advantage is to providing the various types of economical benefit in an organization.  

According to the given question, Allie is basically using the cooperative advantage over Jackie for the process of making the power point presentation about the international trade and so that by using the presentation method they can easily convey their opinions and message to the audience.  

 Therefore, Option (A) is correct answer.

6 0
3 years ago
Refer to Exhibit 3-17. At a price of $20, the quantity demanded of good X is ____________ than the quantity supplied of good X,
zlopas [31]

Answer:

Less, fall, toward

Explanation:

Refer to Exhibit 3-17. At a price of $20, the quantity demanded of good X is less than the quantity supplied of good X, and economists would use this information to predict that the price of good X would soon fall. This would push the price toward the equilibrium price.

3 0
3 years ago
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