Answer: They are both right.
Explanation:
Firms in every market will always maximise profit where their Marginal Revenue equals Marginal Cost because at this point, resources are being fully utilized. This is therefore no different in a Perfectly competitive market so Skip is correct.
Peggy is also correct however because in a Perfectly Competitive market, the demand curve is perfectly elastic. This creates a situation where the Price, Marginal Revenue and Average Revenue are all the same and represent the demand curve as well.
With the Price being the same as the Marginal Revenue in a Perfectly competitive firm, that means that where the Price equals Marginal Cost is where the Marginal Revenue equals Marginal Cost as well so indeed perfectly competitive firms maximize profit where price equals marginal cost.
Answer:
Estimated manufacturing overhead rate= $0.2 per direct labor dollar
Explanation:
Giving the following information:
Direct labor, $30,000
Factory overhead applied $6,000.
<u>To calculate the predetermined overhead rate, we need to use the following formula:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
6,000= Estimated manufacturing overhead rate*30,000
6,000 / 30,000 = Estimated manufacturing overhead rate
Estimated manufacturing overhead rate= $0.2 per direct labor dollar
Answer:
D) Does the defendant have some level of minimum contacts with the state?
Explanation:
In law, a state court will have jurisdiction over an out of state citizen if the defendant complies with one of the minimum contacts requirements:
- having direct contact with the state
- have a valid contract with a citizen of the state
- sell products within the state limits
- attempt to provide goods or services to citizens of the state
- have a website that is viewed within the state
- Calder's effects test
Answer:
The reception office
Explanation: In the reception office, the work performed in the front- office desk of an organization of receiving customers is done by the receptionist.
Answer:
The correct answer is letter "C": 15-20.
Explanation:
Different researches have helped businesses concluded that around <em>15% to 20%</em> of them lose their customers year after year. From them, almost 60% goes to the business's competitor and the other 40% substitute the good or service in reference. The main reason why individuals break up their relationship with companies is because of the treatment they received while others are dissatisfied with the good or service.
So, <em>customer service is a key feature at the moment of determining clients' loyalty to the firm.</em>
