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masya89 [10]
3 years ago
11

A firm sells a product in a perfectly competitive market. The marginal cost of the product at the current output level of 500 un

its is $1.50. The minimum possible average variable cost is $1. The market price of the product is $1.25. To maximize profits, the firm should:
increase production to more than 500 units
continue producing 500 units
decrease production to less than 500 units
shut down
Business
1 answer:
amid [387]3 years ago
3 0

Answer:

The correct answer is the third statement which says to maximize profits, the firm should produce less than 500 units.

Explanation:

The quantity of output produced is 500 units.

The marginal cost of producing 500 units is $1.50.

The minimum average variable cost is $1.

The price of the product is $1.25.  

The firm will be at equilibrium when the price is equal to marginal cost. To maximize profits firm should decrease output to the extent that marginal cost comes to $1.25. At that point, the firm will earn profits as average variable cost is lower than the price.

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Rauol is a receptionist for The South American Paper Company, which has strict corporate policies on appropriate use of corporat
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Answer:

The correct answer is Integrity and Ethical Values.

Explanation:

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is a joint initiative aimed at providing thought leadership through the development of frameworks and guidance on enterprise risk management and internal control.

The Enterprise Risk Management Framework internal environment aspect ensures that resources are put to work really defines the course of a project. Also, it addresses the need for corporations to enhance their techniques in managing risk in order to meet the increasing demands of a dynamic business environment.

A situation where the receptionist sees the manager putting printer paper and toner (resources) into his briefcase on his way out the door best reflects a weakness in integrity and ethical Values.

8 0
3 years ago
A 30-unit income-producing property has a sales price of $9 million. Annual gross income is estimated at $750,000. What's the gr
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Answer:

12

Explanation:

Given that,

Sales price = $9 million

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The gross income multiplier is defined as the ratio of sales price to its effective gross income.

Therefore, the gross income multiplier is calculated as follows:

= (Sales price ÷ Estimated annual gross income)

= $9,000,000 ÷ $750,000

= 12

8 0
3 years ago
Bob lives in Miami and runs a business that sells guitars. In an average year, he receives $793,000 from selling guitars. Of thi
Wewaii [24]

Answer and Explanation:

The identification of each transaction as an explicit cost or implicit cost is as follows

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c. It is an implicit cost as it is considered to be the hidden cost

d. It is also an implicit cost as it is considered to be the hidden cost

5 0
3 years ago
koukladina stop deleting my questions and answers. u call urself a moderator yet ur deleting actual questions and answers that a
monitta

Answer:

. tell them XDD

Explanation:

3 0
2 years ago
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One of the benefits of ics is that it provides an orderly, systematic ___________ process.
mr_godi [17]

The correct answer is planning.

The benefits of ICS stands for Incident command system.

ICS helps  to ensure that the efficient use of resources. The safety of responders, community and efficient use of resources. ICS can be utilized as a natural disaster or as Human caused hazard or a technological hazard.

ICS has some principles and features which include resources and facilities, resource management, accountability and planning which include management.

ICS helps to ensure that there is full utilization of all incident by making sure that there is integrated communication, and by maintaining span control which  is manageable.

4 0
3 years ago
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