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
UkoKoshka [18]
3 years ago
12

The campus barber faces stiff competition from the large number of shops that surround the campus area, and for all practical pu

rposes the market is perfectly competitive. He charges $10 for a haircut and cuts hair for 18 people a day. His shop is open for 5 days a week.
Calculate his weekly total revenue $__.
Calculate his average revenue per haircut $__.
Calculate his marginal revenue per haircut. $__.
Business
1 answer:
KiRa [710]3 years ago
6 0

Answer:

$900

$10

$10

Explanation:

A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

In a perfect competition, price = marginal revenue = average revenue

if price is $10, marginal and average revenue is $10.

total revenue = price per haircut x total number of people he attends to in  a week.

total number of people he attends to in  a week = 18 x 5 = 90

Total revenue = $10 x 90 = $900

You might be interested in
Devon and Edmond enter into a contract for the closing of a sale of Devon's recording studio. When Edmond's schedule conflicts,
aleksandrvk [35]

Answer:

Option A; DELEGATION.

Explanation:

Delegation is an administrative process of getting things done by others by giving them responsibility.

Example is a manager asking a subordinate to take over his duties at a meeting. However, the person who delegated the work remains accountable for the outcome of the delegated work.

Delegation simply means empowering a subordinate to get a work done (i.e. a transfer of authority from a superior to a subordinate).

Since Edmond asks Ferdie to perform his duties at closing because of his own conflicting schedule, therefore, this transfer of duties is called DELEGATION.

3 0
3 years ago
Read 2 more answers
Why should we be careful about what we post on social media and the internet?
andrew11 [14]

One should be careful about posting on social media platforms because this post enables viewers to frame a mindset about an individual and their personality.

<h3>What is a social media platform?</h3>

Social media platform refers to a stage where people communicate with each other and share their opinions and knowledge on different content.

One should be careful while posting on social media because the content posted on these platforms will lead to the evaluation of the personality and mindset of an individual by the audience. These evaluations can be both negative and positive.

These platforms play a key role in a career when an employer checks the background history of a candidate. Any posts that create a negative impact will lead to spoil the impression before the hiring manager.

Therefore, it is important to be careful while posting stuff on social media.

Learn more about social media, here:

brainly.com/question/18958181

#SPJ1

4 0
2 years ago
What do we call risks in the absence of controls and after controls have been implemented?.
SashulF [63]

Risk that exists both before and after controls have been put in place is known as inherent risk.

What is risk?

The term "risk" refers to degree of unfortunately and possibility of loss, injury and hazard. Risk is barrier in the organization.

The various risk levels in a process that have not been regulated or mitigated by risk management are referred to as inherent risk. The level of risk present even in the absence of safeguards is known as inherent risk.

As a result, Inherent risk is risk in the absence of controls and after controls have been implemented.

Learn more about on risk, here:

brainly.com/question/14991895

#SPJ1

8 0
2 years ago
Read the introduction to an argumentative essay about entrepreneurs and free enterprise. Mary Kay Ash wanted to write a book abo
katrin [286]

Answer:

The introduction is effective because it is setting an example of why the thesis behind the book is correct.

Mary Kay Ash, instead of introducing with a statement about her ideas, and why she believes in those, decided to tell a story about a business plan. This is a concrete form to show that under a free enterprise system, women like her, are able to succeed in the business world because they are given the freedom to do so.

3 0
3 years ago
Read 2 more answers
Specialty Manufacturing estimated that its total payroll for the coming year would be $456,000. The workers' compensation insura
Novosadov [1.4K]

Answer:

Specialty Manufacturing

The Estimated workers' compensation insurance premium is:

= $912.

Explanation:

a) Data and Calculations:

Estimated total payroll for the coming year = $456,000

Workers' compensation insurance premium rate = 0.2%

Estimated workers' compensation insurance premium = $912 ($456,000 * 0.2%)

b) The Insurance Premium is the charge or expense that is paid to the insurance company for the insurance services provided.  It is usually calculated as the insured value multiplied by the premium rate.

8 0
3 years ago
Other questions:
  • What is the probability a worker who would select the same career plans to retire early (to 4 decimals)?
    5·1 answer
  • A Wyndham resort that serves Starbucks coffee is an example of _[blank]_.
    14·1 answer
  • Ursula, an employee of Ficus Corporation, is 35 years old and plans to retire in 20 years. The corporation has a qualified retir
    12·1 answer
  • How do firms examine productivity?
    12·1 answer
  • On October 1, Willette Company borrowed $120,000 cash and issued a six-month, 10% promissory note. Interest is payable at maturi
    12·1 answer
  • 8+x=18. Solve for x.
    12·1 answer
  • Determine whether each of the following is a paycheck deduction or an employee incentive
    13·2 answers
  • 52. With respect to the bank reconciliation which is correct?
    8·1 answer
  • New Schools is an all-equity company with an expected EBIT of $94,000 every year forever. The company can borrow at 7.4% while i
    11·1 answer
  • A gym offers one-year memberships for $99 and requires customers to pay the full amount of cash at the beginning of the membersh
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!