If the graph represented a perfectly competitive industry, then the quantity of output produced would be 160 units.
<h3 /><h3>What is the quantity produced in a perfectly competitive industry?</h3>
Companies in any industry would try to maximize their profit by producing at a point where marginal revenue is the same as marginal cost.
This is the same in perfectly competitive industries like the ones shown in the graph.
The difference is that, in a perfect competition market, the demand curve is the same as the price which is also the same as the marginal revenue curve.
This means that the point of maximizing profit in a perfectly competitive industry is:
P = MR = MC
The point where the Marginal revenue curve intersects with the Marginal cost curve is 160 units as the marginal revenue curve is the demand curve.
In conclusion, the output would be 160 units.
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Answer: Debit Accounts receivable for $600.
Explanation:
The customer had not been billed so that means that they still owe the company. This would make them an accounts receivable so the adjusting entry will have to debit the Accounts Receivable account for $600 to show that it is increasing.
This amount will be credited to the Accrued revenue account to show that the cash has not yet been received.
Answer: Requires first developing the ability to do something, however imperfectly or inefficiently; second, translating this ability into a competence by learning to do the activity consistently well and at an acceptable cost; and then continuing to polish and refine its know-how in an effort to further improve its performance, ideally striving to match or beat rivals in performing the activity.
Explanation:
Capacity building involves an individual/organization learning to carry out their job task by starting with failures and successful outcomes, and continuing learning and attempting carrying out that task until perfection nearly attained when it comes to carrying out that job type.
Answer:
Copyright, a form of intellectual property law, protects original works of authorship including literary, dramatic, musical, and artistic works, such as poetry, novels, movies, songs, computer software, and architecture. ... See Circular 1, Copyright Basics, section "What Works Are Protected."
Explanation:
Answer:
1. Margin = 8%
2. Turnover = $7,500,000
3. Return on Investment = 12%
Explanation:
Sales for the year = $7,500,000
Net Operating Income = $600,000
Average Operating Assets = $5,000,000
1. Therefore, Margin = ( Net operating Income/Total Sales ) 
100 = 8%
2. Turnover = Sales for the period = $7,500,000
3. Return on Investment = Net Income/Average Operating assets
= $600,000/$5,000,000 = 12%
