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r-ruslan [8.4K]
3 years ago
15

For a perfectly competitive firm, which of the following is not true at profit maximization?a. Total revenue minus total cost is

maximizedb. Price equals marginal costc. Marginal revenue equals marginal costd. Market price is greater than marginal cost
Business
1 answer:
topjm [15]3 years ago
5 0

Answer: Option (d) is correct.

Explanation:

Correct option: Market price is greater than marginal cost.

In a perfectly competitive market, there are large number of buyers and sellers. So, price is determined by the market forces.

At a point of profit maximization, price is equal to the marginal cost and we have to maximize the difference of the total revenue and total cost. It was not seen in a perfectly competitive market that the price is above the marginal cost at a profit maximizing point.

Therefore, option (d) is not true.

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When managers determine that an organization is not making sufficient progress toward achieving its goals and objectives and the
Alekssandra [29.7K]

Managers are involved in controlling when they conclude that an organization is not making adequate progress toward reaching its goals and objectives and develop remedial actions.

  • Control is a management activity that aids in the detection of problems and the implementation of corrective actions. This is done to reduce deviation from standards and guarantee that the organization's overall goals are met as desired.
  • Controlling is the process of assessing an organization ’s objectives toward its objectives. It comprises monitoring the implementation of a strategy and correcting errors from that plan.
  • Control management is a process that helps your firm spot problems, make adjustments, and keep project management on track. Control management increases your firm's chances of achieving its goals.
  • Controlling is one of the most important management duties of a goal-oriented organization. Management control approaches are classified into two types: modern and classic control strategies. Feedforward, feedback, and concurrent controls are examples of management control techniques.

Thus the correct answer is controlling.

To learn more about controlling, refer: brainly.com/question/28109846

#SPJ4

7 0
1 year ago
Which aspect do you think is most important for an entrepreneur in order to achieve venture capital? Why?
Vinvika [58]

Answer:

savings

Explanation:

Because as an entrepreneur u need to save for the business you are doing

4 0
3 years ago
A 1,500 square foot office space is leased at $12.00 square foot. The space is vacant one month out of the year. Office expenses
Ymorist [56]

Answer:

$7500

Explanation:

An expense stop is a tool used by landlords to limit their operating costs and maintain predictable operating costs over the terms of the lease. Hence, even though the operating expense is $6.50, the landlord is only accountable for $6.

The operating costs annually would be: 1500 x 6 = 9000

(Even though the office space is vacant for one month of the year, maintenance costs will still be incurred throughout the year, whether leased or vacant)

Annual income :

1500 x 12 = $18000 (12 months)

It should be noted though that the office space is vacant for one month. Hence, landlord only receives 11 months worth of leased rent. Actual income : (18000/12) x 11 = $16500

Net operating income annually : Total income - Total expenses = $16500 - $9000 = $7500

3 0
3 years ago
Suppose you are interested in studying whether scent affects spatial reasoning abilities. You decide to test spatial reasoning u
Brilliant_brown [7]

Answer: 1. c. There are no differences in the mean completion times among the scents compared

2. Scent; Completion Time

Explanation:

The Null Hypothesis of a research is that hypothesis which you aim to disprove because it holds that no significant relationship between the variables being researched exists.

In this scenario you are studying whether scent affects spatial reasoning abilities.

The Null Hypothesis will.be that which states that there is no relationship between scent and spartial reasoning therefore there will be no differences in the mean completion times among the scents compared.

The factor of interest is the variable that is being changed to examine a difference making it the SCENT in this scenario.

The dependent variable changes due to the Factor of Interest so it is the COMPLETION TIME.

6 0
3 years ago
__________ consists of information systems that enhance competitiveness at the industry level by promoting the use of standards
Sladkaya [172]
<span>Value web model consists of information systems that enhance competitiveness at the industry level by promoting the use of standards and industry-wide consortia, and by enabling businesses to work more efficiently with their value partners.</span>
6 0
3 years ago
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