Answer: They are both right.
Explanation:
Firms in every market will always maximise profit where their Marginal Revenue equals Marginal Cost because at this point, resources are being fully utilized. This is therefore no different in a Perfectly competitive market so Skip is correct.
Peggy is also correct however because in a Perfectly Competitive market, the demand curve is perfectly elastic. This creates a situation where the Price, Marginal Revenue and Average Revenue are all the same and represent the demand curve as well.
With the Price being the same as the Marginal Revenue in a Perfectly competitive firm, that means that where the Price equals Marginal Cost is where the Marginal Revenue equals Marginal Cost as well so indeed perfectly competitive firms maximize profit where price equals marginal cost.
Answer:
$ 532
Explanation:
<em>C= cost per person
</em>
<em>N= number of people
</em>
<em>TC= total cost
</em>
<em>
</em>
TC= ( 46 * N ) - ( N * ( N - 1 ) )
C= <u>( 46 * N ) - ( N * ( N - 1 ) )</u>
N
TC = ( 46*19 ) - ( 19 * ( 19-1 ) )
TC = ( 874 ) - ( 19 * 18 )
TC = 532
<u>Total Cost for 19 people</u> : $ 532
N° $
1 46
2 44
3 42
4 40
5 38
6 36
7 34
8 32
9 30
10 28
11 26
12 24
13 22
14 20
15 18
16 16
17 14
18 12
19 <u> 10
</u>
<em><u>Total: 532
</u></em>
Answer:
Following are the responses to the given choices:
Explanation:
Please find the complete question:
1-year distance recovery = sensitive resources rate - liabilities sensitive rate
Rate sensitive assets = investments(<1 year) + short-term loans(<1 year)
Dependent Rate=sensitive rate of deposits+ fed fund borrowing
The difference in replicating gaps:
If interest rates decline by 1%, net income becomes down 
ummm most likely a expensive art piece or a drawing from a famous
The cost of making that the component should be compared to the price of buying the component is $15.55.
<h3 /><h3>What is cost of making?</h3>
First step
Relevant manufacturing cost
Direct materials $7.90
Direct labor 2.10
Variable manufacturing overhead 1.10
Fixed manufacturing overhead 0.4
(10% × $4.00 is avoidable)
Total $11.50
Second step
Cost of making=11.5+[($8.10 per unit ÷ 6 minutes per unit)×3 minutes]
Cost of making=$11.5+$4.07
Cost of making=$15.55
Therefore the cost of making that the component should be compared to the price of buying the component is $15.55.
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