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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

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When several hurricanes hit Florida in 2004, a number of local governments imposed price controls that prevented sellers from ra
liberstina [14]

Answer:

a reduced availability of these badly needed products.

Explanation:

Price control is when the government imposed a price regime that is aimed at protecting the consumer from over pricing by sellers. When price ceilings are imposed there is a maximum price the the seller cannot go above in pricing of products.

In this case if ocal governments imposed price controls that prevented sellers from raising their prices for badly needed products like plywood and generators. It will result in reduced availability of the products to these areas.

Sellers tend to reduce amount supplied, due to scarcity consumers will have to buy at black market prices that are higher.

3 0
3 years ago
Read 2 more answers
Branford has one share of stock and one bond. The total value of the two securities is $1,200. The bond has a YTM of 10.2%, a co
riadik2000 [5.3K]

Answer:

The price of the stock is expected to be $188.16 in 1 year.

Explanation:

This can be determined as follows:

Current price of the stock = Expected next dividend / Expected return = $24.87 / 15.2% = $163.62

Expected stock price in 1 year = Current price of the stock * (100% + Expected return)^Number of year = $163.62 * (100% + 15.2%)^1 = $188.16

Therefore, the price of the stock is expected to be $188.16 in 1 year.

8 0
3 years ago
Many store brands use packaging and labeling that is similar to the more expensive national brand. The hope is that the look-ali
olga nikolaevna [1]

Answer:

Stimulus generalization

Explanation:

Stimulus generalization defines that it is the process of call up for a reason by giving responses. For example we call dog by using the bell so that dog can come for food.

Therefore according to the given situation, Many store brands use similar packaging and labeling to the more expensive big company. The idea is that in customers, the look-alike kit would evoke a similar reaction that allows them to buy the affordable store brand so this is an example of Stimulus generalization

6 0
3 years ago
Business fluctuations are systematic increases and decreases in real GDP. Please select the best answer from the choices provide
BlackZzzverrR [31]
From the subject of economics, specifically macroeconomics,  it says that the statement above is false. <span>Business cycles, not business fluctuations, are systematic increases and decreases in real GDP. Business fluctuations are called unsystematic changes. </span>
5 0
3 years ago
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Assume that three weeks before you and Lester are supposed to close your deal for the sale a twenty-acre tract of land, Lester c
Margaret [11]

Answer:

The answer is C

Explanation:

8 0
3 years ago
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