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svlad2 [7]
4 years ago
5

What is the relationship between a perfectly competitive firm's marginal cost curve and its supply curve?

Business
1 answer:
julsineya [31]4 years ago
8 0

Answer:

C) A firm's marginal cost curve is equal to its supply curve for prices above average variable cost

Explanation:

A perfectly competitive firm maximizes its profit when its marginal cost = marginal revenue. In the short run, it will continue to produce even if the marginal revenue is lower than its marginal costs, as long as the marginal costs are ≥ average variable costs.

Therefore, all perfectly competitive firms should supply products or services following its marginal cost curve as long as the price ≥ average variable costs.

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Answer: Option (A)

Explanation:

Core competencies are referred to as a concept in management. These are known as or defined as the harmonized solution or combination of the multiple skills and resources that tends to distinguish an organization in the industry and the marketplace and thus are considered to be the foundation of the organizations competitiveness.

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3 years ago
Molly operates a gym. She sells memberships that entitle the member to use the facilities at any time. A one-year membership cos
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Answer:

d.  I, II, and III are true

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3 years ago
Suppose individuals wish to obtain the most accurate comparison of living standards between the US and Saudi Arabia. To do so, o
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Answer:

Purchasing power parity methods

Explanation:

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3 years ago
What form of arbritration refers to situations where local representatives agree to comply with the arbitraters decision before
PilotLPTM [1.2K]

Answer:

binding arbitration

Explanation:

Both parties agree to be bound by the decision of the arbiter and follow the recommendations/obligations stipulated by the arbiter at the end of the process.

That bound of the two parties makes it a binding arbitration.

As opposed to a non-binding arbitration where the result cannot be enforced onto the parties, a bit like a mediation.  The result is more like a discussion starting point towards a negotiation of the end of the conflict.

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If the demand for air travel were to change so that business travelers and vacationers have the same price elasticity of demand
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Option "B" is correct

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