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sesenic [268]
3 years ago
13

The increase in total revenue that results from selling one more unit of output is A. marginal revenue. B. average revenue. C. m

arginal cost. D. None of the above. What is the relationship between​ price, average​ revenue, and marginal revenue for a firm in a perfectly competitive​ market? A. Price is equal to both average revenue and marginal revenue. B. ​Price, average​ revenue, and marginal revenue usually all have different values. C. Price is greater than average revenue and equal to marginal revenue. D. Price is equal to average revenue and greater than marginal revenue.
Business
1 answer:
egoroff_w [7]3 years ago
4 0

Answer:

(i) Option (A) is correct.

(ii) Option (A) is correct.

Explanation:

(i) Marginal revenue refers to the change in total revenue obtained from the sale of an extra unit of a commodity. It is calculated by differentiating total revenue with respect to output. It is shown as:

Marginal\ revenue=\frac{dTR}{dq}

where,

TR = Total revenue

q = output

(ii) In a perfectly competitive market, price is equal to both average revenue and marginal revenue. Since, firms in a competitive market are not required to reduce the price of their product for selling more number of units. Hence, the average revenue remains the same at all the level of output. That's why average revenue in equal to the price under perfect market conditions.

Therefore, every additional unit of an output is sold at a same price, so the marginal revenue obtained from an extra unit is constant and hence, price is equal to the marginal revenue.

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Nathanial’s company developed a new machine that could sort through a stock of produced goods to identify defective ones. His co
Marta_Voda [28]

Nathanial’s company can apply for a Utility Patents patent for the new machine.

<u>Explanation:</u>

Any intellectual property can be protected by the use of a patent. Filing for legal protection is the major requirement for acquiring a patent. Patent are useful for the protection of any new process, machine or anything that is created physically. Utility patent, plant patent, provisional patent and design patent are the different types of patents that exists in US.

When a new product,machine or process is created or remodeled then Utility Patent helps to protect them. "patent for Invention" is the other name given for Utility patent. It protects your inventions from being sold or used by other industries or enterprises without your authorization.

5 0
2 years ago
In training delivery, which of the following mediums most clearly allows individuals to work through the training materials at t
soldi70 [24.7K]

Answer:

c. E-learning online training courses

Explanation:

Through this method, most individuals can train themselves in any discipline at their own pace without hurry. The materials are readily available and can be read at a convenient time appropriate

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3 years ago
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What is a payroll clerk​
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The process of posting is the transfer of debits and credits from the a.ledger to the journal. b.journal to the ledger. c.T acco
antiseptic1488 [7]

Answer:

The correct answer is letter "B": journal to the ledger.

Explanation:

The activity in which accountants transfer information from the journals to the general ledger is called posting. By posting, only the balances are transferred to the general ledger, not individual transactions. There are no set intervals in which postings should be made. It depends on how often the activities of the company requests it.

6 0
3 years ago
(This problem combines material in Chapters 2 and 3.) You purchase a stock for $50 and sell the stock for $70 after three years.
tensa zangetsu [6.8K]

Answer:

11.87% (12% to the nearest whole percentage)

Explanation:

From the perspective of time value of money,we understand that the value of stock after 3 years is the future value while the initial amount at which it was bought is the present value, on that premise,we can determine the annual rate of return using the formula below which shows the relates future and present values together:

FV=PV*(1+r)^n

FV=future value=$70

PV=present value=$50

r=annual rate of return which is unknown

n=investment timing horizon=3

70=50*(1+r)^3

70/50=(1+r)^3

divide indices on both sides by 3

(70/50)^(1/3)=1+r

r=(70/50)^(1/3)-1

r=11.87%

5 0
3 years ago
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