Answer: The contingency approach
Explanation:
The contingency approach is one of the type of management theory that helps in understanding the various types of principles in an organization and it is also refers as the situational approach.
The main objective of the contingency approach is that it provide manager the different types of ways to give reaction on the given issue and different types of situation.
According to the question, the contingency approach helps in providing the different types of effective ideas to the manager where they facing different types of problems in an organization.
Therefore, contingency approach is the correct answer.
Answer:
$55,000
Explanation:
The operating income of any entity can be calculated using the following formula:
Operating income=Net income+ income tax expense+ finance cost- other revenues
Net income in this question=$42,000
Income taxes=$18,000
finance cost=0
Other revenues=$5000
Operating income=$42,000+$18,000+0-$5000=$55,000
The operating income of any entity can also be calculated using the following formula:
Operating income=Revenues-operating costs
=$100,000-$45,000=$55,000
When marginal revenue is equal to the marginal cost, then the firm should increase the level of production to maximize its profit.
Marginal revenue simply means the increase in revenue that a company makes as a result of selling an additional output of good. Marginal cost is the cost that a company incurs for production of one extra unit of good.
It should be noted that when the marginal cost if a firm is more than the marginal revenue, it means that the firm is producing too much.
When the marginal revenue of the firm equals the marginal cost, then the firm should maximize its profit.
The correct option is A.
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