Answer:
Each firm produces a quantity of 50 in long run equilibrium.
Explanation:
If a perfectly competitive industry of many identical firms has a long-run average total cost of LATC = 800 – 10Q + 0.1Q² and long-run marginal cost of LMC = 800 – 20Q + 0.3Q², for long run equilibrium to occur, LATC must be equal to LMC i.e LATC = LMC.
Equating both cost equation to get quantity Q each firm produces gives;
800 – 10Q + 0.1Q² = 800 – 20Q + 0.3Q²
Bringing all the terms to one side of the equation, we will have;
800-800-10Q+20Q+0.10Q²-0.3Q² = 0
10Q-0.2Q² = 0
Factorizing out Q, the equation becomes;
Q(10-0.2Q) = 0
From the resulting equation;
10-0.2Q = 0
10 = 0.2Q
Q= 10/0.2
Q = 50
This shows that each firm produces a quantity of 50 in long run equilibrium.
Answer:
Correct option is D
When identifying the sources of ineffective performance, managers often <u>attribute poor performance to a lack of ability of individual performers.</u>
Explanation:
The principle explanation for this low capacity of a solitary individual is on the grounds that the activity doled out to them doesn't coordinate with their capacity.
Answer:
mercantilism
Explanation:
It advocates trade policies that protect domestic industries.it helps to reduce trade deficit and create surplus.
Answer:
B) $ 4.25
Explanation:
From the data provided in the question, we need to classify the items into manufacturing costs.
Salary of production supervisor $ 40,000
Indirect materials $ 8,000
Rent on factory equipment <u>$ 20,000</u>
Total manufacturing costs <u>$ 68,000</u>
Estimated Machine Hours 16,000
Manufacturing Overhead - $ 68,000/ 16,000 hours $ 4.25 per machine hours
The other items provided in the question, sales commission and advertising expenses are selling expenses and are not manufacturing costs.
Answer:
It compare the difference among the actual performance and budgeted performance grounds on the volume of actual sales.
Explanation:
Flexible budget performance report is the report which is used for comparing or analyzing the actual results or outcomes for the period with the budgeted outcomes and it is generated through the flexible budget.
In short, it is that report which is the management report and compares the actual revenues as well as costs for the year with the budgeted revenues as well as costs grounded on the volume of actual sales.
