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stira [4]
3 years ago
12

I need help on this question please

Business
1 answer:
Vinil7 [7]3 years ago
5 0

Answer:

the growth of real Gdp is a

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Assume that the short-run cost and demand data given in the tables below confront a monopolistic competitor selling a given prod
REY [17]

Profit is maximized when Q = 4 and P = $40, with maximum profit = $90.

<u>Explanation:</u>

(a)  (i) Marginal cost (MC) = Change in Total cost (TC) by Change in output (Q)

(ii) Total revenue (TR) = Price (P) into Q

(iii) Marginal revenue (MR) = Change in TR by Change in Q

(iv) Profit = TR - TC

Therefore:

Q  TC  MC  P  TR  MR  PROFIT

0  25   60  0   -25

1  40  15  55  55  55  15

2  45  5  50  100  45  55

3  55  10  45  135  35  80

4  70  15  40  160  25  90

5  90  20  35  175  15  85

6  115  25  30  180  5  65

7  145  30  25  175  -5  30

8  180  35  20  160  -15  -20

9  220 40  15  135  -25  -85

10  265 45  10  100  -35  -165

When Q = 4, MR = $25 and MC = $15, so MR > MC. When Q = 5, MR = $15 and MC = $20, so MR < MC. Therefore,  

Profit is maximized when Q = 4 and P = $40, with maximum profit = $90.

(b)  In the long run, new firms will enter the market by being attracted by positive short run profit. Therefore in long run, demand for individual firm will decrease, price for individual firm will decrease and profit will decrease until each existing firm earns zero economic profit.

4 0
3 years ago
Explain how a country with few natural resources can still have economic growth.
valina [46]
They can import and then industrialize. 
5 0
3 years ago
Goldfinger Corporation had account balances at the end of the current year as follows: sales revenue, $29,000; cost of goods sol
vladimir2022 [97]

Answer:

sales revenue 29,000 debit

         income summary     29,000 credit

income sumamry  10,520 debit

    operating expenses 6,200 credit

    income tax expense 4,320 credit

income summary 18,480 debit

       retained earnings     18,480 credit

Explanation:

To close the temporary account we will use an auxiliar account called income summary.

We will post expense in the credit against income summary in the debit

for revenues we will do the other way around, debit aainst income summary on credit.

Last, we transfer the balcne of this account into retained earnigns.

<u>balance of retained earnings: </u>

29,000  - 10,520 = 18,480

5 0
3 years ago
Listed below are costs found in various organizations:
I am Lyosha [343]

Answer:

Answer sheet required more space then was available so I attached it as a picture.

4 0
3 years ago
Clybourne Cycle Shop has two retail departments referred to as Cycles and Clothing. Utility expense for a recent month totaled $
Gelneren [198K]

Answer:

A) $1,200

Explanation:

The computation of the allocated amount to the clothing department is shown below:

= Total utility expense × Clothing Department square feet ÷ Total square feet

where,

Total square feet would be

= Clothing Department square feet + Cycles department square feet

= 600 + 900

= 1,500

And, the other items values would remain the same

Now put these values to the above formula  

So, the value would equal to

= $2,000 × 900 ÷ 1,500

= $1,200

3 0
2 years ago
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