Answer:
The correct answer is all three options.
Explanation:
If price is reduced, the total revenue of perfectly competitive firm will not decline because a reduction in price will lead to increase in demand.
A monopoly firm is a price maker. It has a downward sloping demand curve. The demand curve is relatively elastic which means the firm needs to decrease price in order to sell more.
A firm in perfectly competitive market faces a horizontal demand curve,which means it can supply an level of output at the given price.
The demand curve in perfect competition reflects average revenue, marginal revenue and price. So, the price is equal to average and marginal revenue.
In a monopoly, the demand curve represents price and is higher than marginal revenue curve.
Answer:
The marginal product for the third worker is 150 packets
Explanation:
Marginal product is the change in the output of a firm as a result of an additional input or factor of production. These additional inputs may include materials, labor etc.
The Marginal product for the third worker can therefore be calculated as
change in Total product / change in labour
change in total product = New packets of senior portrait - old packets of senior portraits ( 600 - 450) = 150
change in labour ( 3 - 2 ) = 1
150/1 = 150 packets
Bea Moran wants to establish a long derivatives position in a commodity she will need to acquire in six months. Moran observes that the six-month forward price is 45.20 and the six-month futures price is 45.10. This difference most likely suggests that for this commodity: futures prices are negatively correlated with interest rates.
This is further explained below.
<h3>What are interest rates?</h3>
Generally, the fraction of a loan that is charged as interest to the borrower is often stated as a yearly percentage of the loan outstanding.
"lower interest rates encourage people to spend money on house upgrades"
In conclusion, Bea Moran would want to construct a long derivatives position in a commodity that she will need to buy in a little over half a year's time. Moran notes that the price of the six-month forward contract is now at 45.20, while the price of the six-month futures contract is currently at 45.10. Because of this disparity, it is quite probable that the prices of futures contracts for this commodity have an inverse relationship with interest rates.
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Answer: I believe it's C, because it says that there are many different prices, and it makes sense because there are so many different selling sites
Based on the present value of the annual cash flows and the investment cost, the present value index is 1.39
<h3>How is the present value index calculated?</h3>
To find the present value index, use the formula:
= Present value of cash flow/Investment cost
The present value of cash flow is:
= Annual cash flows x Present value interest factor of annuity, 9%, 4 years
= 2,480 x 3.239719877
= $8,034.51
The present value index is:
= 8,034.51 / 5,800
= 1.39
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