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stellarik [79]
3 years ago
15

In a purely competitive market, a firm finds that at its MR=MC output level the Total Variable Cost (TVC) equals $550, Total Fix

ed Cost (TFC) equals $250, and Total Revenue equals $700. The firm should___________.
a. produce because it will realize an economic profit.
b. produce because it can still cover its total costs.
c. shut down in the short run.
Business
1 answer:
sergey [27]3 years ago
6 0

Answer:

The correct option is B

Explanation:

A pure competition is describes as a market which has a wider range of competitors, those are selling the same kind of products.

A purely competitive market involves or comprise of the large or huge numbers of the firms who are making the standardized product, the market prices are determined by the demand of consumer.

In this case, MR is equal to MC, TVC is $550, Total revenue is $250 and TFC is $250. So, the firm have a scope for producing as it could still cover the total cost.

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Answer:

is d

Explanation:

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3 years ago
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A required reserve ratio of 7 percent gives rise to a simple deposit multiplier of?
blsea [12.9K]

A required reserve ratio of 7 percent gives rise to a simple deposit multiplier of 14.29.

<h3>What is reserve ratio?</h3>

The reserve ratio is the percentage of reservable liabilities which commercial banks must keep rather than lend or invest. This is a requirement set by the country's central bank, which is the Federal Reserve in the United States. It is also referred to as the cash reserve ratio.

Some key points related to reserve ratio are-

  • The reserve requirement is the minimum amount of deposits that a bank must hold, and it is sometimes used interchangeably with the reserve ratio.
  • Regulation D of the Federal Reserve Board establishes the reserve ratio.
  • Regulation D established uniform reserve requirements with all deposit accounts with transaction accounts and necessitates banks to provide the Federal Reserve with regular reports.
  • Suppose the Federal Reserve determined that the reserve ratio should be 11%. This means that if a bank has $1 billion in deposits, it must keep $110 million in reserve ($1 billion x.11 = $110 million).

To know more about reserve ratio, here

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3 0
2 years ago
Victoria is a top executive working with the managers in the major divisions of a multinational corporation to develop their own
fredd [130]

Answer:

The answer is B

Explanation:

Top-down management or leadership which happen or occurs when the goals, objectives, tasks and projects are determined or evaluated among the firm or the company senior leaders, generally independently of their teams.

So, in this case, top executive working with the managers in order to develop or create their own goals. This approach is known as the top down leadership.And under this the tasks, projects are then communicated to the teams.

5 0
3 years ago
A book on how to invest in collectibles spends several weeks on best seller lists. The paperback book was originally released fo
miskamm [114]

Answer:

inelastic demand

Explanation:

Price elasticity of demand (PED) measures the proportional change in quantity demanded when the price of a product or service changes:

  • when a 1% decrease in price, increases quantity demanded in a smaller proportion, the PED is said to be inelastic.
  • when a 1% decrease in price, increases quantity demanded in a larger proportion, the PED is said to be elastic.
  • when a 1% decrease in price, increases quantity demanded in the same proportion, the PED is said to be unit elastic.

In this case, the decrease in price (-2%) barely increased the quantity demanded, therefore, the PED is inelastic.

4 0
3 years ago
If the Commerce Department adjusts the growth rate of GDP downward for the first quarter of 2016, and the Bureau of Labor Statis
wlad13 [49]

Answer:

Downward rate

Explanation:

The commerce department has adjusted the growth of GDP downward, and BLS has adjusted the labor working hours upward. The bureau of labor statistics has to report a downward trend in terms of growth of labor productivity for the first quarter of 2016. The downward trend in labor productivity growth will justify the decline in GDP growth.

4 0
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