Answer:
Peter is maximizing his profit and is making an economic profit.
Explanation:
Peter's Pencils is a pencil producing firm in a perfectly competitive firm.
It produces 1,000 pencils an hour.
The total cost of producing 1,000 pencils is $500.
The market price of each pencil is $2.
The marginal cost of producing the last unit of a pencil at this point is $2.
An individual firm in a perfectly competitive market faces a horizontal line demand curve which also represents the average revenue and marginal revenue.
This means that the marginal revenue earned from the 1,000th pencil is $2.
The marginal revenue is equal to marginal cost, this implies that the firm is maximizing profits.
The average total cost of the firm is
= 
= 
= $0.5
The average total cost is $0.5 which is lower than the price. This means that the firm is earning economic profits.
Answer:
The correct answer is option b. average total costs are falling.
Explanation:
When marginal cost is below average total cost, average total cost will be falling whereas the average cost will be rising when the marginal cost is above average total cost.
A firm is highly productive and efficient when the average total cost is the lowest. At this point, the average total cost is also equal to the marginal cost i.e.
Average Total Cost (ATC) = Marginal Cost (MC).
Answer:
a) planning
Explanation:
Shondra performing the planning process of management functions. Planning means, first of all looking ahead and chalking out future courses of activity to be followed by each and every member of an organization as here Shondra is setting up a new department soon after she is chalking out future courses of duty of the manager and every member of the particular department which is very important for the smooth and effective running of an organisation.
A<u> strategic alliance</u> represents a long-term partnership between two or more companies established to help each firm build competitive market advantages.
long-term partnership agreements regularly incorporate provisions that require consent from the opposite companions earlier than a brand new accomplice is added -- in large part to make certain that the unique harmony and electricity stays intact.
Long-time period relationships have a tendency to remain everywhere from to a few years, with couples breaking apart round this time.
A long-term partnership purchaser dating way which you paint on constructing a dating together along with your clients to create high-stage loyalty to your company. That's the exception that your commercial enterprise can get on the street to success.
Learn more about the long-term partnerships here: brainly.com/question/15913927
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