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
Pie
3 years ago
6

Use the following demand schedule to determine total and marginal revenues for each possible level of sales.

Business
1 answer:
ira [324]3 years ago
7 0

Answer:

please check the attached image for the completed table containing the answers

The industry is purely competitive.

Explanation:

please check the attached image for a clear image of the table used in answering this question

Total revenue = product price x quantity demanded

for example, total revenue when quantity demanded is 2 is $ x 2 = $4

Marginal revenue is change in total revenue.

marginal revenue = total revenue - previous total revenue

e.g. marginal revenue when quantity demanded is 2 is = $4 - $2 = $2

the structure of the industry is a purely competitive market because price is equal to marginal revenue.

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.  

You might be interested in
The chess club has a goal of 36 new members. so far they have 30. what percent of the clubs goal have they achieved
Harrizon [31]
83.333%
or 5/6 in a calculator. Please give me Brainliest answer. Thank you a bunch.
4 0
3 years ago
Sarah is a 50 percent partner in the SF Partnership and has an outside basis of $56,000 at the end of the year prior to any dist
Vikentia [17]

Answer:

A. $0 gain, $36,000 basis

Explanation:

In the distribution, from the information given, Sarah does not recognize any gain or loss.

However, given that

She had $56000 basis at end of year prior to distribution.

Then receives $20000 from distribution after reallocating her basis in SF to cash in amount equal to distribution

Therefore,

Her basis left = 56000 - 20000

= $36000

3 0
3 years ago
Read 2 more answers
Suppose that an economy produces 2,400 units of output, employing 60 units of input, and the price of the input is $30 per unit.
Vinil7 [7]

an economy produces 2,400 units of output, employing 60 units of input, and the price of the input is $30 per unit. the level of productivity in this economy is 40

<h3>What is productivity?</h3>
  • It is possible to study patterns in salary growth, wage levels, and technical advancement by further segmenting labor productivity.
  • Productivity increase is directly related to corporate earnings and shareholder returns.
  • Productivity is a measure of a company's production process efficiency at the corporate level.
  • It is calculated by comparing the number of units produced to employee labor hours or by comparing the company's net sales to employee labor hours.
  • Productivity is calculated as a company's output divided by the units utilized to produce that output.
  • In the workplace, productivity simply refers to how much "work" is completed in a given amount of time.

To learn more about productivity with the given link

brainly.com/question/23987161

#SPJ4

8 0
2 years ago
PLZ HELP
Kitty [74]

Answer:

200

Explanation:

8 0
3 years ago
In King v. Riedl,
vovangra [49]

Answer:

Court ruled over in favor of the plaintiffs.

Explanation:

The result was that the court ruled in the favor of the plaintiffs because the contractor was statutorily barred from bringing an action to enforce payment because he doesn't has the residential home builder license and the amount of the contract satisfied statutory requirements.

8 0
3 years ago
Other questions:
  • To reduce its stock price, Shriver Food Systems, Inc., declared and issued a 100 percent stock dividend. The company has 860,000
    12·1 answer
  • Which of the following characteristics would you expect QRT Software to have? Check all that apply. In this company, decision ma
    15·1 answer
  • A monopolist makes self‑cleaning jackets. At a price of $100 each, it can sell 20 jackets. At a price of $98 each, it can sell 2
    9·2 answers
  • Portfolio A has a beta of 1.0 and an expected return of 22%. Portfolio B has a beta of 2.0 and an expected return of 17%. The ri
    11·1 answer
  • "Have you considered paying workers for what they produce? I found that when I paid employees by the piece, their productivity w
    13·1 answer
  • lantwide rate unit cost, using direct labor hours? Relative to the plantwide rate, the cost increased for Form A and decreased f
    12·1 answer
  • Curly’s Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $43,000 per year forever.
    9·1 answer
  • Presented below is information from Sandhill Computers Incorporated. July 1 Sold $20,000 of computers to Robertson Company with
    12·1 answer
  • At February 1, 2022, the balance in Wildhorse Co. supplies account was $3780. During February Wildhorse purchased supplies of $3
    5·1 answer
  • What type of transaction is recorded when a customer pays via a payment link?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!