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White raven [17]
3 years ago
11

The perfectly competitive firm produces that quantity at which a.marginal revenue is greater than marginal cost. b.the largest g

ap exists between price and marginal cost. c.marginal cost equals marginal revenue. d.marginal cost is falling. e.b and d
Business
1 answer:
Katena32 [7]3 years ago
4 0

Answer:

Option (c) is correct.

Explanation:

The perfectly competitive firm produces at a point where the marginal revenue is equal to the marginal cost because it the profit maximizing point for the competitive firms. Under the perfectly competitive market conditions, the price is determined by the two forces: demand and supply of the goods.

The firms under this market condition, faces a perfectly elastic demand curve which implies that the buyers are free to buy any quantity of goods.

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All of the following are characteristics of a perfectly competitive market except: Group of answer choices barriers to entry per
Vesna [10]

Answer:

barriers to entry

Explanation:

The characteristics or attributes of the perfectly competitive market are as follows

1. There are large number of buyers and seller who purchase and sales similar kind of products

2. No transaction is involved

3. No barrier for entry and exit into the market

4. It contains the perfectly elastic demand

5. Perfect knowledge about the products

Therefore the first option is considered

7 0
3 years ago
Pinkie Print​ Supplies, Inc., sells laser printers and supplies. Assume Pinkie started the year with 100 containers of ink​ (ave
ArbitrLikvidat [17]

Answer:

Instructios are listed below

Explanation:

Giving the following information:

Assume Pinkie started the year with 100 containers of ink​ (average cost of $ 9.10 ​each, FIFO cost of $ 8.60 ​each, LIFO cost of $ 8.00 ​each).

During the​ year, the company purchased 800 containers of ink at $10.00 and sold 600 units for $21.75 each. Pinkie paid operating expenses throughout the​ year, a total of $ 5,000.

FIFO:

Sales= 600*21.75= 13,050

COGS= (100*8.60 + 500*10)= 5860

Gross profit= 7190

Operating expense= 5000

Net operating profit= $2,190

LIFO:

Sales= 13,050

COGS= (600*10)= 6000

Gross profit= 7,050

Operating expense= 5000

Net operating profit= $2,050

Average-cost

Sales= 13,050

COGS= [(9.10+10)/2]*600= 5730

Gross profit= 7,320

Operating expense= 5000

Net operating profit= $2,320

6 0
3 years ago
When should you include your GPA on your résumé?
Pie
At the end of the resume
4 0
3 years ago
Read 2 more answers
Suppose an assistant professor of economics is earning a salary of $75,000 per year. One day she quits her job, sells $100,000 w
Akimi4 [234]

Answer:

Economic profit  $10,000

Explanation:

Income earned as an assistant professor = Salary + Interest on bonds = 75000 + 5% on 100,000 = 75000 + 5000

Income earned as an assistant professor = $80,000

Income from the bookstrore = $90,000

In calculating economic profit, opportunity costs are deducted from revenues earned.

Economic profit = $90,000 - $80,000 = $10,000

4 0
3 years ago
A volume-cycled ventilator is in the control mode and the I/E ratio alarm is sounding. Which control adjustment would correct th
Mkey [24]

Answer:

Option "D" is the correct answer for the following.

Increase the flow rate.

Explanation:

The quantity the ventilator provides differs with adjustments in airway pressure, lung performance and ventilation system integrity.

  • Volume-cycled ventilators: Air passes to the patient until a fixed volume is supplied to the ventilator system, even if the airway pressure is very high.
  • Inspiratory: Expiratory ratio applies to the inspiratory period scale: time of expiry. ... This offers a 1:2 I: E ratio, which reads "one to two."
  • In asymmetric, this ratio is typically changed due to the increased expiration time. They could have a ratio of 1:3 or 1:4 to I: E.

4 0
3 years ago
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