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Fofino [41]
3 years ago
12

Jim and Lisa own a dog-grooming business in Champlain, New York, called JL Groomers. There are many buyers and many sellers in t

he dog-grooming service market. JL Groomers experiences normal cost curves, with the marginal cost (MC) curve crossing average variable cost (AVC) at $14 and average total cost (ATC) at $22. JL Groomers’ long-run supply curve would be the:
a. marginal revenue (MR) curve above $14.

b. marginal revenue (MR) curve above $22.

c. marginal cost (MC) curve above $14.

d. marginal cost (MC) curve above $22.

e. average variable cost (AVC) curve above $14.
Business
1 answer:
Elza [17]3 years ago
3 0

The answer is marginal revenue (MR) curve above $22.

Explanation:

Jim and Lisa Groomers will maximize its accounting profit when taking it to 0 its economic profits when marginal revenue = marginal costs.

Economic profits are not the same as accounting profits because they include the opportunity costs of investing the money somewhere else. That is whythe long run firm is not able to make economic profits since as they exist, new competitors will enter the market. But in the case of the shoert run, the firms are able to make economic profit, but by doing so, they cannot maximize their accounting profit.

Economic profit = account profit = Opportunity profit

Opportunity cost are extra costs or benefitslost from choosing one activity or investment over another one.

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guapka [62]

Answer:

Technical profession is a highly skill based profession in which a practical knowledge is required.Example:engineering in civil,mechanical,computer e.t.c.

6 0
3 years ago
Abdul, a manager at chrysum corp., was assigned the task of overseeing the operations in a foreign office for a week. before lea
PSYCHO15rus [73]

In the scenario above, the technology that Abdul used is an example of voice mail communication. This method is employed by having voice messages to be stored in an electronic manner in which is intended to be retrieved by those recipients who are going to contact the person using this method.

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3 0
4 years ago
TP sells franchises in the Old Fast Food chain. TP sells a franchise to Choi for $100,000 by cashier's check. Choi then hears th
Korvikt [17]

Answer:

a.the court will find that the third party is a holder in due course and, despite the fact that TP has defrauded Choi, not require the third party to repay Choi

Explanation:

In the event where TP who sold a franchise to Choi decides to go out of business and transfers everything to a third. In a lawsuit the court will find that the third party is a holder in due course and, despite the fact that TP has defrauded Choi, not require the third party to repay Choi.

6 0
3 years ago
Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,770 and two j
maxonik [38]

Answer:

Explanation:

WORK IN PROCESS INVENTORY    

May 1 balance 3770 May 31 Finished Goods 9234

31-May Material 11470    

31-May labour 13870    

31-May Overheads 9431.6    

may 31 Balance 29307.6    

JOB COST SHEET      

Job no. Beg. WIP Material Labour Overheads Total  

430 1340 3850 3400 2312 10902  

431 0 4680 8170 5555.6 18405.6  

TOTAL 1340 8530 11570 7867.6 29307.6  

Note: Total cost of Job 429 transferred to Finished goods:  

Beginning cost  2430    

Add: Material  2940    

Add: Labour  2300    

Add: Overheads (2300*68%) 1564    

Total cost of Job 429  9234  

4 0
3 years ago
Mistakes made by staff are affecting overall efficiency, so you have contacted the local community college to inquire about cust
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Answer:

sign up for either program

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By ensuring that the Staff participate in the training, it will enable the staff to minimize mistakes and improve overall efficiency. Efficiency is important to maintain operations.

5 0
3 years ago
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