Answer:
So if you subtract the cost of everything for her bakery she still comes out with making 53,000, so if she left she would not earn any profit because she would be making the same.
Answer:
The correct answer is letter "A": number of firms in an industry.
Explanation:
A concentration ratio measures the number of competitors within the same industry. The lowest concentration ratio of a firm, it represents there are more market rivals. The highest the concentration ratio, the lower the number of competitors of the firm. The ratio is expressed in percentage terms. A firm having a 100% concentration ratio is a monopoly.
Answer:
C. Step variable cost
Explanation:
Fixed costs are those costs which are incurred anyways irrespective of the level of operation of a business or the volume of activity. For example rent of factory is a fixed cost which has to be incurred regardless of the production level.
Variable costs are those costs which vary with the level of production. e.g labor cost.
In this case, a T- shirt is given to every 100th customer. This kind of cost is step cost at the level of 100th customer. The number of T-shirts in a day would depend upon the no of patrons arriving each day i.e variable.
Thus, this is the case of a step variable cost which is incurred at discrete point i.e every 100th customer.
Answer:
If a firm is hiring inputs under purely competitive conditions, then any level of output will be produced with the least-cost combination of resources A and B when:_____.
A
Answer:
Separate legal entity and taxation process
Explanation:
In a corporation, unlike in other forms of business, the owners and business are treated separately under the law. This principle is referred to as separate legal entity concept.
So for any contracts or deals entered into by a corporation, the owners cannot be held personally liable or asked to make good the losses incurred due to entering into those contracts unless of course if owners acted with mala fide intentions to earn personal profits. In short, owners personal assets cannot be taken away.
Secondly, the taxation slab applicable to corporations is also different in the sense corporations pay taxes on dividend paid. Secondly, when such dividend forms part of the revenue of shareholders, tax is again paid on that dividend income, this time by the shareholder. So in a way, shareholders get taxed twice, since in the first case, the company paying dividend recovers the tax on dividend paid from shareholders. This is referred to double taxation.
