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Rainbow [258]
3 years ago
7

Explain why it is true that for a firm in a perfectly competitive​ market, the​ profit-maximizing condition MR​ = MC is equivale

nt to the condition P​ = MC. When maximizing​ profits, MR​ = MC is equivalent to P​ = MC because _______
Business
1 answer:
saveliy_v [14]3 years ago
7 0

\bold{MR = P} is equivalent to both of the given conditions in a fully competitive market.

<u>Explanation: </u>

In profit maximization, MR = MC corresponds to P = MC since, for a fully competitive product, the marginal revenue curve is the same as its demand. If a company produces during this level, marginal income is lower than marginal cost.

This ensures that for each additional production unit, the company loses profit and should deliver less. MR > MC the company produces less and may increase income by higher output.

To sum up, MR > MC the company produces less and can make profit by increasing production MR < MC the company produces more and can earn a profit by reducing the output.

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Typically, the ________ style of leader avoids dominating groups. autocratic laissez-faire authoritarian democratic
aleksklad [387]

Typically, the<u> laissez-faire</u> style of a leader avoids dominating groups.

In French, "laissez-faire" literally means "let someone do what they want". The origins of laissez-faire are associated with his group of 18th-century French economists, the Physiocrats, who believed that government policy should not interfere with the running of the natural economy.

An example of laissez-faire is the economic policies of capitalist countries. An example of laissez-faire is when homeowners can grow whatever they want in their front yard without asking for a city permit. Do not interfere in the affairs of others.

Disclaimer: Learn more about laissez-faire here brainly.com/question/17259480

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3 0
2 years ago
An insurance company has offered your friend the choice of $45,000 per year for 15 years, with the first payment being made toda
TiliK225 [7]

Answer:

$427,011.92

Explanation:

We use the present value formula i.e to be shown in the attached spreadsheet

Given that,  

Future value = $0

Rate of interest = 7.5%

NPER = 15 years

PMT = $45,000

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

And, in type we write the 1 instead of 0

So, after solving this, the present value is $427,011.92

8 0
3 years ago
One way to demostarte assertiveness while interacting with a customer is to
nikitadnepr [17]

Answer:

  • Exrpress understanding and explain why his/her demand is not acceptable.

Explanation:

When dealing with a <em>customer</em>, and you consider he/she is not rigth, you should be able to express your point of view in a respectful way but clearly  preserving your rights. That is <em>assertiveness</em>.

You must confront him/her in a constructively way: make it clear why the claim is not correct or fair, even how it affects the your or the company's right: you undersant him/her but he/she must understand you too.

You should prevent the situation from escalating to greater proportions but you should not give in to unfair demands that involve a loss for the company.

5 0
3 years ago
Vertis Corporation is interested in cutting the amount of time between when a customer places an order and when the order is com
vladimir2022 [97]

Answer:

40%

Explanation:

For computing the manufacturing cycle efficiency, first we have to compute the throughput time which is shown below:

Throughput time = Process time + Inspection time + Move time + Queue time

= 6 + 0.6 + 0.4 + 8

= 15

Now

Manufacturing cycle efficiency (MCE) is

= Value added time (process time) ÷ Throughput time

= 6 ÷ 15

= 40%

We simply applied the above formulas so that the manufacturing cycle efficiency (MCE) could come

8 0
3 years ago
The acacia ant nests and feeds in the plant’s hollow thorns. The ant helps protect the bullshorn acacia by attacking insects and
babunello [35]

Answer:

mutualism

Explanation:

because both animals in the relationship benefit

8 0
3 years ago
Read 2 more answers
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