Answer:
Increase quantity to where AC = MC = D=AR=MR
Explanation:
A perfectly competitive market is where there are many firms in the industry producing homogeneous products. There is ease of entry and exit into and out of the market. They are price takers and earn normal profits in the long-run. In order to maximize profits, a firm in a perfectly competitive industry should produce an the quantity where its average cost is equal to marginal cost when AR = MR = D. In other words, when the AC and MC curves intersect with AR = MR = D curve.
<em><u>Please refer diagram</u></em>
The firm is currently producing at a point where AC > MC at quantity 1000. In order to reach AC = MC, the firm has to increase its quantity to Qe. As it increases quantity, although marginal cost increases, average cost falls because now fixed costs are spread over a larger quantity of output.
At Qe, the three curves intersect and is the point where this firm can maximize its revenue (Price = Pe). At a price higher than this, it would lose customers since there are many others producing the same product and customers can easily shift to another.
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Question
where does a works cited page go
Answer & Explanation:
The Works Cited page is the list of sources used in the research paper. It should be its own page at the end of the paper. Center the title, "Works Cited" (without quotation marks), at the top of the page.
Answer and Explanation:
The preparation of the corrected un-adjusted trial balance is presented below:
<u>Particulars Dr Amount Cr Amount</u>
Cash $15,500
Accounts Receivable $46,750
Prepaid Insurance $12,000
Equipment $190,000
Accounts payable $24,600
Unearned rent $5,400
Common stock $40,000
Retained Earnings $70,000
Dividends $13,000
Service Revenue $385,000
Wages expense $213,000
Advertising expense $16,350
Miscellaneous expense $18,400
<u>Total $525,000 $525000 </u>
Answer:
This question is incomplete, it misses the options. The options are the following:
a) Commercialization
b) Concept testing
c) Prototype development
And the correct answer is the option C: Prototype development.
Explanation:
On the one hand, the stage of<em> "product screening" </em>is when the company and its employees can pare down the list of viable ideas to the ones that will only match the organization's strategic goals that they are looking for.
On the other hand, the<em> "prototype devolopment" </em>stage involves the fact of getting those viable ideas into touchable models that the managers can try in real life experience more than just in the papers. Therefore that in this stage is when the employees build a product model based on clear product descriptions.