Answer:
Marginal cost is greater than its average cost.
Explanation:
Given that,
Cost of producing 500 graphing calculators = $35,000
Cost of producing 501 graphing calculators =$35,080
Therefore,
The marginal cost = Cost of 501 graphing calculator - Cost of 500 graphing calculator
= $35,080 - $35,000
= $80
Average cost:
= $35,000 ÷ 500
= $70
Therefore, the marginal cost is greater than its average cost.
The bakery market in a large city is an example of Monopolistic competition.
Monopolistic competition exists when many companies offer competing products or services that are similar, but not perfect, substitutes. In this case, the bakeries in large cities that produce similar, but not identical products. The market structure is a form of imperfect competition.
Some of the characteristic of a monopolistic competition structure are;
The presence of many companies.
Each company produces similar but differentiated products.
Companies are not price takers.
Free entry and exit in the industry.
Companies compete based on product quality, price, and how the product is marketed.
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Answer:
the firm must sell 37,443 units of Regular and 74,886 units of Ultra
Explanation:
Regular - unit sales price= $20; Variables costs per unit = $8
Ultra - unit sales price= $24; Variables costs per unit = $4
combined contribution margin:
- 1 unit of regular = $20 - $8 = $12
- 2 units of ultra = $48 - $8 = $40
- total = $52
break even point = total fixed costs / combined contribution margin = $1,947,000 / $52 = 37,442.31 ≈ 37,443 units
the firm must sell 37,443 units of Regular and 74,886 units of Ultra
Answer:where are the number of hours ?
Explanation:normally without the direct labour hourly rate u can't calculate the direct labour cost
