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Andrei [34K]
3 years ago
11

When a certain competitive firm produces and sells 100 units of output, marginal revenue is $80. When the same firm produces and

sells 200 units of output, what is average revenue? a. $40 b. $80 c. $160 d. This cannot be determined from the given information.
Business
1 answer:
Assoli18 [71]3 years ago
6 0

Answer:

d. This cannot be determined from the given information

Explanation:

To find the average revenue of 200 units it is necessary to know the total units. However, the function of the marginal revenue is not given. It is impossible to infer the marginal revenue (price) of other units (of output) only from knowing the marginal revenue of the 100th unit.

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What is the law of demand and supply<br><br><br>​
Svetradugi [14.3K]

Answer:The law of supply and demand is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines what effect the relationship between the availability of a particular product and the desire (or demand) for that product has on its price.

Explanation:

8 0
3 years ago
Last year, Mountain Top, Inc., purchased a coal mine at a cost of $900,000. The salvage value has been estimated at $100,000. Th
nydimaria [60]

Answer:

Journal entry to record depletion expense

Depreciation expense $280,000 (debit)

Accumulated depreciation $280,000 (credit)

Explanation:

The coal mine is an economic resource controlled (ownership of risks and benefits) by Last year, Mountain Top, Inc as a result of past event (purchase transaction) from which economic benefits are expected to flow into the business (cash from sale of minerals).Therefore the coal mine is an asset!

The asset is being depleted as it is being used. This is called depreciation.

Depreciation expense in this case is calculated as :

Depreciable Account × Current harvest as a percentage of total estimated tons available

(900000-100000)× 70000/200000 = $280,000

6 0
3 years ago
Inez has a specific set of plans to build a sailboat. the plans are detailed in nature, and any boat builder can build the boat.
navik [9.2K]
<span>Inez is still obligated to accept delivery of the boat because it is still the boat that she contracted out and built to the specifications that she requested. Just because it was contracted out to another company doesn't mean that she didn't get what she wanted for the price she wanted. If she didn't have a specific design then she might have an argument, however she did and it was built to that design specs.</span>
7 0
2 years ago
The death benefit of a(n) _____ life insurance policy may go down because of poor investment returns.
ICE Princess25 [194]
<span>The death benefit of a(n) variable and universal life insurance policy may go down because of poor investment returns.
Universal life insurance and variable life insurance are two types of permanent life insurance, in this case if the the person who insured dies any time</span><span> as long as there is enough cash value to pay the costs of insurance in the policy, the death benefit will be paid. </span>
6 0
3 years ago
Crane Company borrowed $750000 from BankTwo on January 1, 2019 in order to expand its mining capabilities. The 5-year note requi
Daniel [21]

Answer:

The interest expense of $59,463  must be recognize on its 2020 income statement.

Explanation:

With the given data make an amortization schedule

Hint : First determine the Future Value of the  5-year note

PV = $750,000

N = 5

Pmt = - $195,327

P/yr = 1

i = 9.5%

Fv = 0

<em>Input the elements in a Financial Calculator.</em>

2019

interest expense = $71,250

2020

interest expense = $59,463

Conclusion :

The interest expense of $59,463  must be recognize on its 2020 income statement.

7 0
3 years ago
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