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grandymaker [24]
2 years ago
12

Suppose a perfectly competitive firm is producing 37 units output, and the marginal cost of the 37th unit is $3. If the firm can

sell each unit of output for $5 and the firm's revenue is sufficient to cover its variable cost, the firm should:__________.
A. lower its price.
B. decrease production.
C. increase production.
D. raise its price.
Business
1 answer:
sesenic [268]2 years ago
6 0

Answer:

C) increase production.

Explanation:

Competitive firms maximize their accounting profits when marginal revenue (MR) = marginal cost (MC).

In a perfectly competitive market, all the producers and the consumers are price takers, so they cannot change the price of the goods. So changing the sales price is not possible. Since the marginal revenue is greater than the marginal cost, the firm should increase its production output until MR = MC.

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When you invest your money, it is likely that in future your purchasing power will A. go up and down.

<h3>What will happen to your purchasing power?</h3>

If you invest your money today, there is a chance that you will get back more money than you deposited, or less than you deposited.

This means that you will either have more money or less money to purchase goods and services. In other words, your purchasing power will go up and down.

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2 years ago
Deon is opening a car wash, and he has approached SCORE, an SBA organization that assists small-business owners in setting up th
Marianna [84]

Answer:

A.) Write a business plan

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3 0
3 years ago
Children aged birth to 18 months do not consistently show safety awareness
Kamila [148]

Children aged birth to 18 months do not consistently show safety awareness and cannot reliably demonstrate knowledge of safe choices. So, this statement is true.

<h3>What do you mean by children?</h3>

Children refer to the young human being who is below the age of puberty or below the age of the majority.

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4 0
2 years ago
Which of the following is not considered a debit
dem82 [27]

The answer is <u>"A. Interest earning".</u>


A debit is an accounting entry that outcomes in either an expansion in resources or a decline in liabilities on an organization's accounting report. In basic accounting, debits are adjusted by credits, which work the correct inverse way. For example, if a firm applies for a new line of credit to buy gear, it would debit settled resources and credit a liabilities account, contingent upon the idea of the loan.  


8 0
3 years ago
Read 2 more answers
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