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Lisa [10]
3 years ago
12

Suppose a firm’s total revenue is $100 when it sells 10 units, and $110 when it sells 11 units. The firm, therefore, is a(n):

Business
1 answer:
Andru [333]3 years ago
3 0

Answer:

perfect competitor

Explanation:

Given:

Firm's total revenue when 10 units are sold = $100

Firm's total revenue when 11 units are sold = $110

Average Revenue = \frac{\textup{Total revenue}}{\textup{Total units sold}}

or

Average Revenue = \frac{100}{10} = $10

and,

the marginal revenue = $110 - $100 = $10

Since,

the average revenue and the marginal revenue for the firm is equal,

therefore, the is a perfect competitor

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Why do​ long-run elasticities of demand differ from​ short-run elasticities? ​Long-run elasticities of demand differ from​ short
Ne4ueva [31]

Answer:

The correct answer is option D.

Explanation:

Long-run elasticities of demand differ from short-run elasticity. In the short period is more inelastic. This is because people take time to adjust their consumption habits. So if the time period people have to adjust to the price change is long, then the demand will be elastic.  

Durable goods can be used for a relatively long time. So they will have a less elastic demand.

3 0
3 years ago
Read 2 more answers
When some firms enter a perfectly competitive industry in which firms are earning an economic profit, the short-run industry sup
inn [45]

Answer: Supply curve -  Increases rightwards  

               Market Price - Falls  

               Economic Profit - Decreases

Explanation: Perfect Competition market structure is with large number of buyers & sellers , homogeneous products & uniform prices , perfect information and free entry and exit.

'Free Entry and Exit' implies - no firm earns super normal (economic) profits or abnormal losses in long run.                                                                        When firms are earning economic profits in short run, new firms enter (because of free entry) & the industry supply increase reducing price , which further reduces the super normal profits to normal profits in long run. Similarly - Abnormal losses make firms exit (freely), reduce supply & increase price , hence reducing abnormal losses & resuming normal profits.

7 0
3 years ago
Rolando, a senior employee, has been asked to monitor the activities of some new employees and report to her if he finds them en
vazorg [7]

Answer:

Explanation:

From the question we are informed about Rolando, who is a senior employee, has been asked to monitor the activities of some new employees and report to her if he finds them engaged in activities that are not work related. He finds them spending far too much time on social networking sites. However, instead of reporting this, he advises the new employees to refrain from using those sites in the future. Moreover, he tells Alexa that they were doing their work effectively. In this scenario, Rolando has engaged in Filtering.

Filtering can be regarded as distortion as well as withholding of information so that reactions of a person or entity can be managed. It can be explained as process whereby some information is been hide to higher rank workers by

employee, whereby this is done so that

employees that committed a fault is not affected. Filtering serves as an act that middle-range workers can take to give

enough confidence to their surbodinates so that they can correct themselves which is alternative of punishing them.

6 0
3 years ago
What is expansionary policy used for?
snow_tiger [21]

Answer:

to stimulate an economy

Explanation:

it stimulates the economy by boosting demand through monetary

5 0
3 years ago
What do neoclassical economics and behavioral economics believe about giving people options?
UNO [17]

Neoclassical economics focuses on providing more options while Behavioral economics focuses on helping people make better decisions with the options available.

A psychological approach to business, behavioral economics looks at how well people's expectations of utility and profit maximization match their actions and if they actually maximize predicted utility.

Contrarily, neoclassical economics views manufacturing costs as a key determinant of pricing a product. Thus, neoclassical economists contend that customers' primary determinant of choice is price.

Hence, the two have different beliefs about giving people options. While behavioral economics focuses on assisting people in making better decisions with the options at hand, neoclassical economics places greater emphasis on offering more options.

Want to know how would keynesian and neoclassical economics propose dealing with cyclical unemployment? Read here: brainly.com/question/28213854

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