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3 years ago

For a perfectly competitive firm, the marginal cost curve is identical to the firm’s ________________

1 answer:

4 0

If the firm is perfectly competitive, then this means that the marginal cost curve is simple similar to the firm’s supply curve. The level in which the marginal cost is equal to the marginal revenue is the level in which profit is maximized.

Answer:

<span>Supply curve</span>

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Gareth bought a home for $135,000. The home gained 2. 2% in value every year for eight years until Gareth sold it. How much prof

saw5 [17]

The amount of profit made by Gareth upon the sale of the home is $26,700.

Computation:

Given,

$P$ = Principal Amount of $135,000

$i$ = interest rate of 2.20%

$n$ =number of years are 8 years

First, the value of the home at the end of the 8th year will be computed by using the formula of future value.

$\begin{aligned}\text{Future Value}&=P\times(1+i)^n\\&=\$135,000\times(1+0.022)^8\\&=\$160,672.27\end{aligned}$

Now, the profit will be computed by taking the difference of the future value of the home and the purchase price or the principal amount of the home.

$\begin{aligned}\text{Profit}&=\text{Future Value\;-\;Principal Amount}\\&=\$160,672.27-\$135,000\\&=\$25,672.27\;\text{or}\;\$25,700\end{aligned}$

Therefore, at the time of sale of the home, the amount of profit gained by Gareth is $25,700.

To know more about future value, refer to the link:

brainly.com/question/1759639

3 0

2 years ago

A stock _____ is a short combination of letters used to identify the stock of a particular company.

andriy [413]

Number?
Jeez I hate that we need to write 20

3 0

3 years ago

Read 2 more answers

One employee is in charge of the following activities at a refreshment stand: Activity Activity Time per Customer Greet customer

REY [17]

Answer:

A. Flow rate = 20 customers per hour

B. Utilization =0.83

C. Cycle time= 3 minutes per customer

Explanation:

A. Calculation for the flow rate

First step is to calculate the Processing time

Processing time = 5 + 25 + (1.5 ×60) + 30

Processing time=30+90+30

Processing time= 150 seconds

Second step is to calculate the Process capacity

Process capacity = 1/150 ×60 per seconds/minute ×60 per minutes/hour

Process capacity= 24 customers per hour

Now let calculate the Flow rate

Using this formula

Flow rate= Min(Demand, Process capacity)

Let plug in the formula

Flow rate= Min(20, 24)

Flow rate = 20 customers per hour

Therefore the flow rate will be 20 customers per hour

B. Calculation for the utilization

Using this formula

Utilization = Flow rate/Process capacity

Let plug in the formula

Utilization = 20/24

Utilization =0.83

Therefore Utilization will be 0.83

C. Calculation for the Cycle time

Using this formula

Cycle time = 1/Flow rate ×60 per minutes/hour

Let plug in the formula

Cycle time= 1/20 ×60 per minutes/hour

Cycle time= 3 minutes per customer

Therefore the Cycle time will be 3 minutes per customer

3 0

3 years ago

The average price of personal computers manufactured by MNM Company is $1,200 with a standard deviation of $220. Furthermore, it

crimeas [40]

Answer:

The required probability is 0.066807

Explanation:

Given,

σ = 220

μ = 1200

The probability that a random selection of computer which will have the price of at least $1,530 is computed as:

P (X ≥ 1530 ) = 1 - P (X ≤ 1530)

= 1 - P ( X - μ / σ)

= 1 - P ( 1530 - 1200 / 220)

= 1 - P ( z ≤ 1.5)

= 1 - 0.933193

= 0.066807

Note: This 0.933193 value is taken from the z table.

8 0

3 years ago

Suppose a firm has an annual budget of $200,000 in wages and salaries, $75,000 in materials, $30,000 in new equipment, $20,000 i

Molodets [167]

Answer:

The firm will need additional revenue of $90,000 to earn normal profit(zero economic profit)

Explanation:

Normal profit equals zero economic profit or when total revenue equals

the addition of explicit cost and Implicit cost. Implicit cost is the opportunity cost.

Explicit cost = $200,000 + $75,000 + $30,000 + $20,000 + $35,000

=$360,000

Implicit cost is $90,000

Total revenue is $360,000

Normal profit = $360,000 - ($360,000 + $90,000)

$360,000 - $450,000

-$90,000.

This means the firm will need additional revenue of $90,000 to earn normal profit(zero economic profit)

5 0

4 years ago