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ch4aika [34]
3 years ago
5

Suppose a firm in a competitive market produces and sells 8 units of output and has a marginal revenue of $8.00. What would be t

he firm's total revenue if it instead produced and sold 4 units of output?
(A) $4.00
(B) $8.00
(C) $32.00
(D) $64.00
(E) Cannot be determined with the information given.
Business
1 answer:
vredina [299]3 years ago
7 0

Answer: The correct answer is "(C) $32.00".

Explanation: The marginal income is the income obtained from the sale of one more unit of product.

In a market of perfect competition, the company is accepting price.

Therefore the total income is given by the calculation: Price x Quantity.

Then: 8 x 4 = $ 32.

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Answer:

His business will most likely be classified as  C. Service business

Explanation:

Mondie Weller will be paid for residential landscaping services.The best classification will be a Service Business since the value the client gets varies from client to client as per their needs. Also there is no conversion of inputs into output so it will be incorrect to call it a Manufacturing Business.

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3 years ago
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It doesn't require any skills or special talent to flip burgers.

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4 years ago
Part III short essay (10 points). (At most one page including diagrams and explanations)
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The corona virus pandemic effects everyone globally. It affects the supply the united states brings in from other countries. As we try not to spread the  corona  more we must stop our supplying from other countries meanwhile. Other countries are in the same scenario as us because they may be worried about spreading and receiving.

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3 years ago
Broker Marty listed Jane’s home and showed it to Buyer Paul. Their listing agreement specified that Marty would receive a 7% com
dolphi86 [110]

Answer:

Jane owes 8% commission to Broker Sarah and 7% commission to Broker Marty

Explanation:

Since Marty showed Paul the house while his agreement with Jane was valid, Paul is a prospective buyer that was originally registered as such by Marty. Since the safety period is 6 months, and Paul eventually bought the house only 5 months after Marty's agreement expired, Paul was still Marty's prospective buyer for up to 6 months.

Since Sarah negotiated the sale with Paul, Paul is also Sarah's buyer. If Paul had directly negotiated with Jane, she would only a commission to Marty.

Generally, when properties are listed again with different brokers, the list of prospective buyers form the previous broker is passed to the new broker. The seller of the house can request that the new and old broker get in touch and share a commission if any prospective buyer returns, but that has to be done before the sale is closed. It cannot be done afterwards, since the seller will then have to pay double commissions.

4 0
4 years ago
Which of the following would most likely cause a decrease in the quantity supplied?
gregori [183]

Answer:

A decrease in price

Explanation:

A decrease in price will cause the supply of goods and services to decrease. As you can see, an increase in demand causes the equilibrium price to rise. On the other hand, a decrease in demand causes the equilibrium price to fall. An increase in supply causes the equilibrium price to fall, while a decrease in supply causes the equilibrium price to rise.

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3 years ago
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