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sertanlavr [38]
2 years ago
5

Mr. Smith is hired as a consultant to a firm evaluating entry into a perfectly competitive industry. Mr. Smith determined that a

t the projected level of output the price would be $100, the average variable cost would be $50, average total cost would be $80, and marginal cost would be $70. Mr. Smith’s report will include the following remarks:
Business
1 answer:
DENIUS [597]2 years ago
5 0

Answer:

P = 70, Ed = ∞ , Firm = Price Taker , Free Entry & Exit

Homogeneous Product , No selling costs , Long Run Normal Profits

Explanation:

Perfect Competition is a market form with : many number of buyers & sellers, selling homogeneous goods at uniform prices, while firms & consumers having perfect information & no selling costs.

In this market : Price = Marginal Cost , as taken by all firms from the industry & so demand curve is horizontal parallel to x axis - denoting perfectly elastic demand i.e infinite sale at prevailing price.

As market's all sellers goods are homogeneous & all have perfect information about it, no selling costs are required. Free Entry & Exit in industry also imply that Industry's profits are confined to 'Normal Profits' (No Supernormal profit / abnormal loss) in long run.

So, Smith's report would include all the above mentioned remarks.

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Martha, the chief designer of StyleSmartz, is considered a role model by her design team members for her role as an effective le
Lerok [7]

Answer:

engage in management openness by encouraging members to voice their opinion.

Explanation:

An important characteristic of management is approachability and openness of the manager to ideas of employees. This gives the manager an idea of the actual state of the workplace facilitating effective resolution of issues as they arise.

When employees know they can freely express themselves without being reprimanded, they better express themselves about challenges encountered.

Also opportunities and methods of doing things better is communicated to the manager

8 0
3 years ago
A firm in China sells toys to a U.S. department store chain. Other things the same, these sales:a. decrease U.S. net exports and
kari74 [83]

Answer: decrease U.S. net exports and increase Chinese net exports

Explanation: All things the same, the Chinese is exporting while the American store is importing. As the Chinese is exporting, the net export (the difference between a nation's exports and imports) in China increases and as the American is importing, the net export in America is decreasing.

8 0
2 years ago
Given the following data for Harder Company, compute cost of goods manufactured: Direct materials used $120,000 Beginning work i
il63 [147K]

Answer:

c. $480,000

Explanation:

Cost of goods manufactured        $

Direct materials used               120,000

Direct labor                               200,000

Manufacturing overhead         150,000

Beginning work in process      20,000

Ending work in process          <u> 10,000  </u>

Cost of goods manufactured <u> 480,000 </u>

So, Correct option is c. $480,000

4 0
3 years ago
Vijay Inc. purchased a three-acre tract of land for a building site for $350,000. On the land was a building with an appraised v
alexandr402 [8]

Answer: b) $364,090

Explanation:

The Capitalized cost of the land would be the costs incurred to acquire the land and to set it up.

Capitalized cost = Purchase price + demolition of old building + title insurance + attorney fees + property taxes(for period since purchase) - scrap value

= 350,000 + 11,700 + 810 + 540 + (3,000 - 350) - 1,610

= $364,090

3 0
2 years ago
George is in charge of ordering supplies for his employer, and he usually buys these supplies from the same vendors. One of the
laila [671]

Answer:

extranet

Explanation:

According to my research on information technology and business sytems, I can say that based on the information provided within the question George is using a system known as an extranet. Like mentioned in the question this is a private system implemented by a certain company in which they can allow temporary access to those who they conduct business with in order provide them with all the information they need.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

6 0
3 years ago
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