Answer:
$51. 15
Explanation:
The selling price is $58.82
The mark-up is 15% of the selling price.
The cost price is ???
The $58.82 is 115% of the cost price.
the cost price is 100%
cost price
= 58.82/115 x 100
= $0.5114 X 100
=$51. 15
Answer:
keep producing in the short run but exit the industry or go out of business in the long run
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.
A firm should shut down in the short run if price is less than average variable cost. But since the diner's price is greater than average variable cost, it should continue production.
A firm should exit the industry in the long run if price is less than average total cost. the diner's price is less than average total cost, so it should shut down in the long run
TRUE. In the early 1930s, as the nation slid toward the depths of depression, the future of organized labor seemed bleak. ... The tremendous gains labor unions experienced in the 1930s resulted, in part, from the pro-union stance of the Roosevelt administration and from legislation enacted by Congress during the early New Deal.
hope this helps!!
Answer:
time required is 7.70 years
Explanation:
given data
interest rate = 9%
solution
we know with the compounded continuously rate r and time t amount is
A(t) = A(o) 
.................1
and we have given amount is double so
A(t) = 2 A(o)
so from equation 1 put the value and we get here
2 A(o) = A(o)
ln(2) = 0.09 t
solve it we get time
time t = 7.70 years
so time required is 7.70 years
Many people believe that pure monopolies charge any price they want to without affecting sales. Instead, the output level for a profit-maximizing pure monopoly occurs where
D. marginal revenue equals marginal cost
Explanation:
- Many people believe that pure monopolies charge any price they want to without affecting sales. Instead, the output level for a profit-maximizing pure monopoly occurs where
- D. marginal revenue equals marginal cost
- In business, the production is done at the level where marginal revenue is equals to marginal cost to maximize the output.
- When the marginal revenue is greater than the marginal cost, it pays you more.
- Each unit added which is sold will add more to revenue than to costs.
- Marginal cost is the cost which occurs due to the increase in cost a company incurs by producing one extra unit of goods or services.
