Answer:
In a perfectly competitive industry the market price is also the marginal revenue of a firm and in order to maximize profit a firm has to produce a output at which marginal revenue is equal to marginal cost. In this case the firm's marginal revenue is fixed at 12 so they need to bring their marginal cost down to 12 in order to maximize profits. What they should do is decrease their output to a quantity so that their marginal cost is also 12, when they do this their marginal cost and marginal revenue will be equal and they will be maximizing profits.
Explanation:
Answer:
The insurance expense for the period is $ 510
Explanation:
The insurance premium paid in advance for 2 years period is $ 4,080 and debited to prepaid insurance
The monthly insurance expense for insurance would be $ 4,080/ 24 months
$ 4,080 / 24 = $ 170 per month
The period of benefit for the insurance is from October to December so it is 3 months.
the insurance expense for the period is $ 170 per month * 3 months = $ 510
Answer:
C) The conditions are met.
Explanation:
A conditional promise is a promise that depends on the occurrence of one or more future events (conditions) before it becomes an obligation for the promisor. In order for the promise to be recognized by the not-for-profit entity, the conditions established must be met, therefore the conditional promise becomes an unconditional promise.
For example, it the promisor promises to give the entity $100,000 in case he sells his house, then the promise will be recognized when the promisor's house is sold.
Explanation:
Credit report is the statement that has information about your credit activity and current credit situation such as loan paying history and the status of your credit accounts.
Credit scores are calculated basing on the information in your credit report
Answer:
b. each person evaluates the situation according to his/her individual self-interest.
Explanation:
This can be generally seen in ancient and modern form of economics where in the course of their works, they can end up countering themselves in the midst of a project.
Here, or in a case of such, a great part of economics deals and accommodates psychology an the both economics that have probably found themselves in the field are expected to evaluate the situation according to each others self interest; especially when knowing the risks, pros and negative effect of the activities that is been carried out.
Secondly, this model is a useful measurement device by which economic situations can be evaluated and also levels of competition that exist in real markets can be checked.
