1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
katovenus [111]
3 years ago
10

Suppose that a firm operating in perfectly competitive market sells 50 units of output. Its total revenues from the sale are $50

0. Which of the following statements is correct? (i) Marginal revenue equals $5. (ii) Average revenue equals $10. (iii) Price equals $15.
Business
1 answer:
jekas [21]3 years ago
3 0

Answer:

ii) Average revenue equals $10

Explanation:

A perfectly competitive market is where there are many buyers and sellers of homogenous goods. They are price takers. Price = marginal cost = marginal revenue = average revenue

Total revenue = price × quantity sold

$500 = price × 50

Price = $10

Average revenue = Total revenue / output

$500 / 50 = $10

You might be interested in
Mike Tyson earned about $200 million over his 15-year boxing career, but by 2003 he was in financial trouble. This is an example
Naya [18.7K]
Mike Tyson earned $200 million during the time of his boxing career. However, in 2003 he started having financial trouble. In his case, this is an example of unlimited human wants. Mike Tyson would buy things that he really didn't need and homes he would never even live in. He even owned numerous exotic animals, such as bengal tigers. The correct answer is D.
8 0
3 years ago
Auto insurance is needed primarily because of __________. (points : 2)
yan [13]
<span>Auto insurance is needed primarily because of </span>potential liability claims.

If you don't have it and you don't have insurance, you have to fix your car out of your own money, as well as pay for repairs of other cars if it is proven that it was your fault.

7 0
3 years ago
a Shannon has been a member of her school's newspaper club for 2 years and attends writing workshops in her free time. Which car
boyakko [2]

She could look into both option B and D but I’m leaning more towards D as She could use her writing and English skills to compose formal documents and prepare motivational and persuasive speeches. And her initiative and independence would also be solid qualities to have for a business manager.

4 0
2 years ago
Even when competitive firms are unable to calculate marginal revenue product directly, _________________________________________
GenaCL600 [577]
Even when competitive firms are unable to calculate marginal revenue product directly, the pressures of competition in the labor market will push wage rates toward the marginal revenue product of labor. 
By comparing the marginal revenue<span> and </span>marginal<span> cost from each unit produced, a </span>firm<span> in a </span>competitive<span> market can </span>determine<span> the </span>profit<span>-maximizing level of production.</span>
5 0
3 years ago
Read 2 more answers
The following accounts were abstracted from Oriole Company's unadjusted trial balance at December 31, 2020: Debit Credit Account
Ronch [10]

Answer:

$52,710

Explanation:

Calculation for allowance for uncollectible accounts credit balance

Using this formula

Allowance for uncollectible accounts credit balance=Estimated gross uncollectible accounts receivable *Accounts receivable

Let plug in the formula

Allowance for uncollectible accounts credit balance=7%* $753,000

Allowance for uncollectible accounts credit balance=$52,710

Therefore After adjustment at December 31, 2020, the allowance for uncollectible accounts should have a credit balance of $52,710

7 0
3 years ago
Other questions:
  • Suppose that a manufacturer needs to produce a custom aluminum housing for a special customer order. Because it currently does n
    10·1 answer
  • When a hurricane rips through florida, the price of oranges rises because the:
    14·1 answer
  • Arlie hochschild explains that companies typically ________
    15·1 answer
  • Which of the following movements started in Great Britain in the early 1980s when then Prime Minister Margaret Thatcher started
    6·1 answer
  • t's Manuel again. But now that we are getting to know him, we just call him Manny. So....Manny gets called in to work seven days
    6·1 answer
  • Company Z has 2.1 million shares of common stock authorized with a par value of $1 and a market price of $52. There are 1.05 mil
    15·1 answer
  • A ________ is an unsecured bond, and most of the bonds sold today in the United States are of this type.A) mortgage bondB) deben
    8·1 answer
  • At the start of the current year, a company paid for the following in cash: Copyrights, $2,000,000 Equipment, $25,000,000 Goodwi
    6·1 answer
  • Yard Professionals Inc. experienced the following events in Year 1, its first year of operation:
    10·1 answer
  • Suppose that an Exxon Mobil bond has a return of ​% half the time and ​% the other half. The expected return on this bond is   
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!