1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
daser333 [38]
3 years ago
15

Economists normally assume that the goal of a firm is to

Business
1 answer:
Elina [12.6K]3 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.

You might be interested in
on july 1, the knit shop paid $9,000 to townsend realty for 6 months’ rent beginning july 1. prepaid rent was debited for the fu
lubasha [3.4K]

Answer:

debit Rent Expense, $1,500; credit Prepaid Rent, $1,500.

Explanation:

6 0
3 years ago
If supply for a product is high but demand is low, what most likely needs to happen to achieve equilibrium?
vodka [1.7K]
<span>If supply for a product is high but demand is low, the one that most likely needs to happen to achieve equilibrium is: B. The price of the product must go down. High supply of product will create an abundance in the market. By lowering the price of the product, it will attract more consumers for that product (icnreasing its demand) and will eventually lower the product abundance and bring the curve into equilibrium</span>
7 0
3 years ago
Read 2 more answers
Teresa has just opened a NOW account that pays 3.50​% interest. If she maintains the account at the required minimum balance of
nataly862011 [7]

Answer:

She will earn $17.50.

Explanation:

Interest earned is the amount of interest earned on the a deposited amount in a saving amount on simple interest.

Balance in the account = $500

Interest rate = 3.5%

Interest earned = Average balance  x Interest rate

Interest earned  = $500 x 3.50%

Interest earned  = $500 x 0.035

Interest earned  = $17.50

5 0
3 years ago
The difference between the standard cost of a product and its actual cost is called a variance.
-Dominant- [34]

The difference between the standard cost of a product and its actual cost is called a cost variance. Therefore the statement is true.

<h3>What is the objective of variance?</h3>

Changing across all of the pieces of information in a data set, variance is a measurement of distribution. It enables us to estimate how far away a set of factors are from each other.

To describe the variation or difference between the standard cost of a product and its actual cost the use of cost variance is done. It is utilized to estimate the financial performance of any project.

Therefore, the statement is True.

Learn more about Variance, here:

brainly.com/question/16269880

#SPJ1

7 0
1 year ago
You deposit $1,500 in a bank where you have a savings account. The bank
skad [1K]
Interest rate risk

Interest rate risk is the risk that arises for fixed-rate investments from fluctuating interest rates. How much interest rate risk a fixed-rate investment has depends on how sensitive its price is to interest rate changes in the market.
8 0
3 years ago
Other questions:
  • Horton Industries’ shareholders’ equity included 100 million shares of $1 par common stock and a balance in paid-in capital—exce
    8·1 answer
  • A corporation purchases 1,000 shares of its own common stock for $4,000 on Feb. 13. On April 13, half of the treasury stock was
    11·1 answer
  • When politicians argue that the outsourcing or offshoring of techincal support to India by the Dell Computer Corporation is harm
    5·1 answer
  • Chris purchased a 10 year 100 par value bond where 6% coupons are paid semiannually. Cheryl purchased a 100 par value bond where
    10·1 answer
  • You are going to deposit $26,000 today. You will earn an annual rate of 6.1 percent for 11 years, and then earn an annual rate o
    5·1 answer
  • We are pleased to offer you the position of assistant manager. We propose a start date of March 14.
    15·2 answers
  • Calaveras Tire exchanged equipment for two pickup trucks. The book value and fair value of the equipment given up were $34,000 (
    6·1 answer
  • What best describes the example/instance for building a model to identify cross-sell opportunities (trying to convince people to
    13·1 answer
  • The following transactions for the month of March have been journalized and posted to the proper accounts. Mar. 1 The business r
    8·1 answer
  • Artis Sales has two store locations. Store A has fixed costs of $125,000 per month and a variable cost ratio of 60%. Store B has
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!