During the final or phaseout stage of the project life-cycle, scope is the dominant goal of many project managers.
D. 16,110
39,000+9,250=48,250
48,250-(850+290)=47,110
47,110-31,000=16,110
Answer: c. Marginal Cost
Explanation:
A Competitive firm operates in a market where they are price takers. This means that the price they charge is equal to both their average revenue and their Marginal Revenue.
P = MR = AR
Companies maximise profit at a point where Marginal Revenue equals Marginal Cost because at this point, resources are being fully utilized.
If the Competitive firm's Price is the same as its Marginal Revenue this means that to maximise profits, the firm should choose an output level where the price is equal to the marginal cost.
