Annual fee, balance transfer fee, cash advanced fee, late fee, and over-the-limit fee are your answers.
<span>The Fair Debt Collection Practices Act</span>
Answer:
d) it can hire all the workers it wants to at the going wage rate.
Explanation:
The price taker means the company or an individual is ready to accept the prices that are prevailed in the market
In the case when a firm is a price taker in the labor market also it cannot set the prices as expected. The attached diagram represent the flat supply curve. It hire the workers depend upon the MPR and the factor supply curves
Therefore in the given situation, the last option is correct
Answer:
1. This firm have the profit maximizing output level of 1400 units because a firm in any industry will maximize profit where MR=MC. Here MR is equal to MC at the output level of 1400. So profit maximizing level of output is 1400 units.
2. Economic profit = Total revenue - total cost.
Where, Total revenue = Quantity * price
= 1400 * 7
= $9,800
Total variable cost = AVC * quantity
= 6.50 *1400
= $9,100
Total fixed cost = AFC * quantity
= 0.80 * 1400
= $1,120
Economic profit = Total revenue - Total variable cost - Total fixed cost
Economic profit = $9,800 - $9,100 - $1,120
Economic profit = -$420
. The firm is having economic loss equal to 420.
Conclusion: This firm is facing economic loss in its output.
