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ArbitrLikvidat [17]
3 years ago
8

The market price of one package of raspberries sold in a perfectly competitive market is $7. Based on this information, what is

the marginal revenue of increasing production from 30 packages to 45 packages?
Business
1 answer:
Kitty [74]3 years ago
3 0

Answer:

$105

Explanation:

In a perfectly competitive market, all suppliers and all consumers are price takers. That means that no one has enough market power to either raise or lower the price.

This means that the marginal revenue obtained by selling 15 more packages = 15 packages x $7 = $105

In a perfectly competitive market, the demand curve is perfectly elastic or horizontal at a given market price.

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The Two Sisters has a return on assets of 9 percent and a dividend payout ratio of 75 percent. What is the internal growth rate
Anettt [7]

The internal growth rate of a firm is best described as the: A. minimum growth rate achievable assuming a 100 percent retention ratio. B. minimum. The tax rate and the dividend payout ratio will be held constant. Current and. The Two Sisters has a 9 percent return on assets and a 75 percent retention ratio.

hope this helps.

7 0
3 years ago
Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. Pat quit that job and started working as a p
Ivan

Answer:

$34,000

Explanation:

Accounting profit = Total revenue - Explicit costs

i.e Total revenue = $50,000

     Explicit costs = $12,000 + $1,000 + $3,000 = $16,000

Therefore; $50,000 - $16,000 = $34,000.

6 0
3 years ago
Brief Exercise 23-1 Lopez Company uses both standards and budgets. For the year, estimated production of Product X is 534,000 un
guajiro [1.7K]

Answer:

a. $6

b.  $3204000

Explanation:

Given:

  • Product X is 534,000 units
  • cost for materials $1,441,800
  • cost for labour: $1,762,200

(a) a standard cost

As we know standard cost is the cost of producing 1 unit and is recorded in a standard cost card. However, the cost of labor, materials and overhead are used to make a single unit, so

standard cost = unit variable cost =  the total cost / the total number of unit.

In this situation, the overheading cost is not gven, so the total cost:

= The cost of labor + materials

= $1,441,800 + $1,762,200

= $3204000

=> standard cost  = $3204000  / 534,000 = $6

(b) a budgeted cost represents the total costs

The total number of units * standard cost

= 534,000 * 6

=   $3204000

6 0
3 years ago
1. Mixed economies have aspects of both
Ronch [10]
1) Mixed economies are a mix of Command (regulated by the government) and free (Market) economy - the answer is b)
2)Today most countries have a mixed economy, there are few (such as North Korea) which have a command economy, but none have a true free market (for example drugs are regulated)
3)Inflation means that one needs more money to buy the same goods - this is measured by a rising Consumer Prize index (answer d)
4) this indicator would be a steady, but low inflation - but inflation is bad for the economy but lack of inflation is not really stable
7 0
4 years ago
Approximately ________ % of the U.S. labor force is employed in service industries.a. 10b. 25c. 40 d. 60e. 80
GenaCL600 [577]

Answer:

The correct answer is letter "E": 80.

Explanation:

According to the U.S. Bureau of Labor Statistics (<em>BLS</em>) by the end of the second quarter in 2019 over 107 million workers -around 80% of the total American labor force- were engaged in the private service industry. The most important sectors related were <em>transportation, utilities, education, health care, professional, </em>and <em>business services</em>.

6 0
3 years ago
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