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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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Financial markets A. channel funds indirectly between borrowers and lenders. B. channel funds directly from lenders to borrowers
Afina-wow [57]

Answer:

B) channel funds directly from lenders to borrowers.

Explanation:

The complete financial system is a means by which money is transferred from savers to borrowers. The financial system is made up of banks, insurance companies, financial markets,  and other financial institutions that allow the exchange of money.

Financial markets are the only type of institution that allows the exchange of money from lenders to borrowers without third parties being involved.

6 0
3 years ago
An employee at falcon security is studying an analysis of data regarding the occurrence of problems and failures with its drones
Rama09 [41]
An employee at Falcon Security is studying an analyst of data regarding the occurrence of problems and failures with its drones camera. Based on the analysis, the employee may schedule maintenance on the equipment Falcon Security is using the analysis to decision making.
6 0
3 years ago
Statutes that require proof of character and skill and impose penalties for violation are considered to be revenue-raising in na
denis23 [38]
I think its true. I don't think its false so true

4 0
3 years ago
Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 $ 41,000 Di
xeze [42]

1. The calculation of the predetermined overhead rate applied to jobs during August is <u>75% of direct labor costs</u> ($90,000/$120,000).

2. The balance in the Work in Process account at the end of August is $61,000.

3. The amounts of direct material cost and applied overhead recorded for Job 248 as of August 31 are $19,000 and $18,000, respectively.

<h3>Data and Calculations:</h3>

Work In Process Balance, August 1 $ 41,000

Direct materials used       75,000

Direct labor 120,000

Manufacturing overhead applied (based on direct labor cost) 90,000

Total costs incurred = $326,000

<h3>Finished Jobs during August: </h3>

Job #    Cost of Jobs Completed

234               $ 58,000

237                  65,000

231                   74,500

246                  67,500

Total costs of finished jobs = $265,000

Work in process balance = $61,000 ($326,000 - $265,000)

<h3>Job in Process: Job 248:</h3>

Direct labor cost incurred = $24,000

Applied overhead = $18,000 ($24,000 x 0.75)

Direct materials = $19,000 ($61,000 - $24,000 - $18,000)

Thus, the work-in-process balance represents Job 248 (Direct labor $24,000, Direct materials $19,000, and Applied Overhead $18,000).

Learn more about job costing at brainly.com/question/24516871

#SPJ1

7 0
2 years ago
Suppose the civilian non-institutional population equals 250,000; there are 132,500 employed persons and 10,000 unemployed perso
mr Goodwill [35]

Answer:

107,500

Explanation:

The civilian non-institutional population can be divided into two groups;

1)Individuals in the labor force

11) Those not in the labor force

Those in the labor force will include the employed and the unemployed.

In the scenario, those in the labor force will be 132,500 employed persons and 10,000 unemployed persons.

I.e., 132,500 + 10,000 = $42,500

Those not in the labor force will be the population - those in the labor force.

I.e., 250,000-142,500= 107,500

Those not in the labor force will be 107,500

6 0
3 years ago
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