Answer:
$1,135,000
Explanation:
Data provided as per the question
Contribution = $1,430,000
Income = $295,000
The calculation of fixed cost is shown below:-
Income = Contribution - Fixed cost
Fixed cost = Contribution - Income
= $1,430,000 - $295,000
= $1,135,000
Therefore, for computing fixed cost we simply deduct Income from contribution.
Explanation:
There are no deficits or surpluses in terms of output, no obstacles to the entry or exit of businesses on the market, and the number of customers is so high that it is only the economic demand that decides the value of the products in the market. Thus, the reality is that the market is completely open. All producers earn normal profit and both manufacturers and consumers accept the commodity price.
In comparison, a monopoly market competition can be defined as a business environment where one entity or group of companies dominates the supply market and thus controls output factors. In this case, the monopolist decides the price of the goods on the market, as the competition is always strong. Free entry or departure from companies is not allowed in a monopolistic competitive market.
The short-term and long-term production or profitability are the same in the case of a fully competitive market. Since the production factors are often under control and fully meet the demand and supply of the market. In the shorter term and that in the long run, a perfect competition business will see stable and strong economic growth. In the case of a business or corporation which is fully competitive, there is no distinction between the competitors ' profit margins and all companies have the same rate of profit.
Wheres the data given below/
Answer: The four types of economic utility are form, time, place and possession. "Utility" in this context refers to the value, or usefulness, that a purchaser receives in return for exchanging his money for a company's goods or services.
