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2 years ago

If a firm in a perfectly competitive market shuts down in the short run, it will:

Business

1 answer:

Fittoniya [83]2 years ago

8 0

Answer:

C. lose money equal to its total fixed costs.

Explanation:

The revenue of a firm in a perfectly competitive market depends on the forces of demand and supply. If such a firm consistently operates at a loss in the short run, it means that its price is lower than its average variable costs or revenues are lower than its total costs. If it shuts down, it won't be incurring variable costs but only lose money equal to fixed costs making choice C correct.

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Place the steps to creating a budget in order:

bagirrra123 [75]

Answer:

1. Figure out your net income

2. Determine if you have enough income to cover all your expenses

3. make list of variable expense

4. make list of fixed expenses

5. adjust expense

done !

4 0

3 years ago

Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches

shutvik [7]

Answer:

Fixed Overheads Spending Variance = $5,000 Unfavorable(U).

Fixed Overheads Spending Variance = $20,000 Favorable (F).

Explanation:

Fixed Overheads Spending Variance = Actual Fixed Overheads - Budgeted Fixed Overheads

= $305,000 - $300,000

= $5,000 Unfavorable(U).

Fixed Overheads Spending Variance = Fixed Overheads at Actual Production - Budgeted Fixed Overheads

= ($5.00 × 64,000) - $300,000

= $320,000 - $300,000

= $20,000 Favorable (F)

3 0

3 years ago

Rhonda Brennan found her first job after graduating from college through the classifieds of the Miami Herald. She was delighted

kozerog [31]

Answer:

Answer is explained in the explanation below.

Explanation:

Solution:

According to the data given: This can be solved as following. (Note: we are not given income tax tables to calculate the accurate net pay. So, according to given information here. Following is the accurate one. )

Let's assume, a 6.2% tax rate for SS ( Social Security) and 1.45% tax rate on Medicare:

So,

Social Security = 6.2%

Medicare = 1.45%

Pay Per hour = $14.30

So, let's calculate Rhonda's Gross pay:

Gross Pay = Pay per hour x total number of hours

Gross pay = $14.30 x 80 hours

Gross Pay = $1,144

Now, calculate the Rhonda's Reduction for Social Security:

Rhonda's Reduction for Social Security = $1,144 x 6.2%

Rhonda's Reduction for Social Security = $70.928

Similarly, Rhonda' Reduction for Medicare:

Rhonda' Reduction for Medicare = $1,144 x 1.45%

Rhonda' Reduction for Medicare = $16.588

So Finally,

Rhonda's Take-home Pay for her first check will be = Gross pay - Rhonda's Reduction for Social Security - Rhonda' Reduction for Medicare

Rhonda's Take-home Pay for her first check will be = $1,144 - $70.928 - $16.588

Rhonda's Take-home Pay for her first check will be = $1,056.484

7 0

3 years ago

What is a disadvantage for a company that goes public

aleksandrvk [35]

I think the most appropriate answer would be C.

I hope it helped you!

5 0

3 years ago

Which one of the following statements about private goods is true? (WITH EXPLANATION PLEASE)

sergey [27]

C because some people can not afford to buy private goods which leads them to be excluding them from the products a firm makes

6 0

2 years ago