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astra-53 [7]
3 years ago
7

For a monopoly, the socially efficient level of output occurs where marginal revenue equals marginal cost. average revenue equal

s marginal cost. marginal revenue equals average total cost. average revenue equals average total cost.
Business
1 answer:
horsena [70]3 years ago
8 0

Answer:

The correct answer is: average revenue equals marginal cost.

Explanation:

In a monopoly, the socially efficient level of output is where the average revenue is equal to marginal cost. At this level, the price paid for the product is equal to the additional cost incurred on the production of that unit of product.

But the monopolist maximizes its profit by producing at the level where the marginal revenue is equal to marginal cost. This output level is less than the socially optimal level and creates a dead weight loss.

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Budgeted financial statements are financial statements based on budgeted amounts rather than actual amounts.
Tasya [4]

Answer:

The statement is True.

Explanation:

Budgeted financial statements are prepared for a future period of time. So that it is easy to anticipate certain fixed and variable costs and allocate financial resources to them.

Also, Budgeted financial statement are useful during the strategic planning process and planning on future business expansions.

3 0
3 years ago
Resale price maintenance occurs when: a. the manufacturer suggested retail price. b. minimum prices are enforced. c. consignment
Gemiola [76]

Answer:

b. minimum prices are enforced

Explanation:

The manufacturer of certain products deals with their distributors by exploiting the market failures to negotiate ceiling and minimum prices with the threat of not purchase if the agreement is not validated.

This is done to prevent competition between reseller for the price. This makes the reseller profitable and therefore, the manufactured as well.

6 0
3 years ago
A common step in the testing for accounts payable is to test subsequent disbursements for improper/proper inclusion/exclusion in
galben [10]

Answer:

1. When searching for unrecorded liabilities, the auditors consider transactions recorded <u>after</u> year end.

<em>Auditors consider transactions recorded after year end to determine if it was supposed to be recorded in the current period. </em>

2. Accounts payable <u>confirmation</u> can be mailed to vendors from whom substantial purchases have been made.

<em>As a way to keep a document trail, creditors from whom substantial goods were bought from can be mailed a confirmation. </em>

3. To gain overall assurance as to the reasonableness of accounts payable, the auditor may consider <u>ratios</u>.

<em>Ratios such as the Payables turnover can be used to evaluate the reasonableness of Accounts payable. </em>

4. When auditors find unrecorded liabilities, before adjusting they must consider <u>materiality</u>.

<em> They must consider if the adjustment is material or significant enough to record. </em>

5 Auditiors need to consider <u>shipping terms</u> terms for determining ownership and whether a liability should be recorded.

<em>Shipping terms need to be considered because they can tell who owns goods in transit and therefore if a liability is needed for them. Shipping terms such as FOB Shipping point mean that the business incurs the liability as soon as the seller ships the goods. </em>

6 0
3 years ago
Adam was explaining security procedures to new interns at his firm. It was difficult for the interns to understand what Adam was
RSB [31]

Incomplete question. The options;

A) Incorporate activities that directly involve the audience.

B) Explain how the information will help the audience.

C) Avoid jargon.

D) Compare unfamiliar concepts to familiar concepts.

Answer:

<u>C) Avoid jargon.</u>

Explanation:

Note, the term <em>"jargon"</em> basically refers to the use of highly complex or technical language in communication.

In this scenario, we observed that Adam did not take into consideration that the interns were<em> unfamiliar</em> with the complex terms he was using. Hence, an effective strategy he could have used in the above situation was to totally avoid the use of jargon in his communication with the interns.

5 0
3 years ago
HELPPPKDDKKD
hram777 [196]

Answer:

A. Consumers will be more likely to buy luxury goods in foreign markets.

4 0
2 years ago
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