1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
grandymaker [24]
3 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]3 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.

You might be interested in
Abram is a manager at Runa Marcus Corp., a company that runs a women's lifestyle magazine. Abram's strong points are his creativ
natima [27]

In the context of management skills, Abram has strong technical skills.

<h3><u>Explanation:</u></h3>

Skills are very essential for the determination of success of a person in his career. There are many skills such as interpersonal skills, communication skills, technical skills, management skills,etc. The skills that are very essential in performing certain tasks refers to the technical skills. These are associated with IT, math and science.

In the scenario given, Abram  who is a manger in Runa Marcus Corp.,. Apart from his managerial skills he possess creative writing skills and expertise in photo-editing software. Thus he has stuffs in doing specific task such as working with photo-editing software. Thus, he has strong technical skills.

4 0
3 years ago
Kent is a salesman at a large water products distributor where all the decisions are made by the top levels of management. Howev
Gelneren [198K]

Answer:

Centralized Organization

Explanation:

Centralized organization can be defined as a hierarchy decision-making structure where all decisions and processes are handled strictly at the top or the executive level.

7 0
3 years ago
A company builds a new plant and finances its construction by issuing stock. Which ratio is least likely to be affected, all els
Marta_Voda [28]

Answer:

a. Current ratio

Explanation:

Current Ratio is the least likely to be affected

The  Current Ratio is given as

Current Ratio = [ Current assets ] ÷ [ Current liabilities  ]

Now,

Building a new plant is a fixed asset for the company.

Thus, It will add to the Fixed assets

Since,

The Formula for current ratio is independent of the fixed assets

Therefore,

It will be least affected.

While,

Debt to equity ratio = [ Debt ] ÷ [ Equity ]

Debt to asset ratio= [ Total Debt ] ÷ [ Total Assets ]

Net fixed assets to total assets = [ Net fixed assets ] ÷ [ Total assets ]

in all the above relations, fixed asset will change the value of the total assets.

Hence,

They all will be affected

7 0
3 years ago
Pls whoever answer this ASAP, I'LLMARK YOU BRAINLIEST... PROMISE
Taya2010 [7]

Answer:

I AM SO CONFUSED

5 0
3 years ago
New correctional treatment specialists might be required to work under a trial period, called a(n)
Jet001 [13]
The trial period is called the probationary period. Typically last 90 days & the employee as well as the employer can end the work relationship without reason or cause. Sometimes the job fit is not right but at least this gives both parties to see how the situation works.
7 0
3 years ago
Other questions:
  • Total government spending (federal, state, and local) sums to approximately:
    11·1 answer
  • Choose five of the ethical behaviors (enthusiasm, quality, cooperation, productivity, and safety) and post five rules that you w
    6·1 answer
  • Match each type of business with the person or persons who get to keep the business's profits.
    5·2 answers
  • hich of the following statements is true? The denominator used in computing earnings per share represents the shares of common s
    9·1 answer
  • Even Better Products has come out with a new and improved product. As a result, the firm projects an ROE of 20%, and it will mai
    8·1 answer
  • Journalize entries for the following related transactions of Lilly Heating &amp; Air Company using the net method under a perpet
    13·1 answer
  • Read the scenario A business sells widgetsEach week receives a shipment on Monday and is sold out by Tuesday.
    6·2 answers
  • Farris Billiard Supply sells all types of billiard equipment, and is considering manufacturing their own brand of pool cues. Mys
    8·1 answer
  • Data concerning Hinkson Corporation's single product appear below: Per Unit Percent of Sales Selling price $ 140 100 % Variable
    5·2 answers
  • A trader buys two July futures contracts on frozen orange juice. Each contract is for the delivery of 15,000 pounds.The current
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!