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daser333 [38]
2 years ago
15

Economists normally assume that the goal of a firm is to

Business
1 answer:
Elina [12.6K]2 years ago
6 0

Answer:

Profit Maximisation

Explanation:

Profit is the difference between total revenue (receipts) from sale & total cost (expenditure) on production.

Total Revenue = Price x Quantity ; Total Cost = Average Cost x Quantity

Economists study all the producer behaviour, based on assumption that : Goal of firm is Profit Maximisation.

Maximising Profit implies maximising the difference between Total Revenue & Total Cost [ TR - TC] . This further leads to producer equilibrium rule of Marginal Revenue = Marginal Cost [MR = MC] ; i.e additional revenue per unit sold equals additional cost per unit production.

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3 years ago
Which of the following is not a feature of most good mood melodies
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A single climatic note
4 0
2 years ago
the table you're working at keeps wobbling you decide to fix it by making a thick pad of paper from folded sheets of paper. each
MissTica
Pad 1 = folded 3 times
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Pad 2 = folded 2 times
This sheet of paper has 2 layers. That information was given to us beforehand.

Lastly add up all the layers: 4 + 2 = 6

Final answer: It took 6 layers of paper to prop up the table
6 0
2 years ago
Giant Industries has a $674,232 gross operating income, operating expenses of $329,129, and other expenses totaling $38,719. Wha
Mekhanik [1.2K]

Answer:

$345,103 Is the answer I'm not good at explaining things so I won't attempt it.

5 0
2 years ago
Global Company makes a product that is expected to use 2.2 pounds of material per unit of product. The material has a standard c
avanturin [10]

Answer:

Favorable for price and unfavorable for usage.

Explanation:

Provided Information,

Standard Material = 2.2 pounds per unit

Standard cost = $2 per pound

Actual Quantity = 2.3 pounds per unit

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In Material Price variance we have = (Standard Price - Actual Price) \times Actual Quantity

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In material quantity variance we have = (Standard Quantity - Actual Quantity) \times Standard Rate

Since actual quantity used = 2.3 pounds is more than standard 2.2 pounds the variance will be unfavorable

Therefore, Price Variance = Favorable, and Quantity Variance = Unfavorable.

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3 years ago
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