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almond37 [142]
3 years ago
7

A perfectly competitive firm facing a price of $10 decides to produce 100 widgets. If its marginal cost of producing the last wi

dget is $12 and it is seeking to maximize profit, the firm should _______.
Business
1 answer:
IrinaK [193]3 years ago
5 0

Answer:

To maximize the profit the firm should produce fewer widgets because, as the number of widget production increases the marginal cost of producing widgets increases.

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On November 1, Arvelo Corporation had $33,500 of raw materials on hand. During the month, the company purchased an additional $7
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Answer:

a. $92,000

Explanation:

Journal Entries

                                                Dr.               Cr.

Purchase of Inventory

Raw Material Inventory       $76,500

Cash / Account Payable                         $76,500

Transferred to production

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Manufacturing overhead     $3,300

Raw Material Inventory                           $92000

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4 years ago
Alpha Company manufactures computers. On July 1, Alpha had $75,000 of materials in inventory. During the month of July, the comp
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Answer:

$352,000

Explanation:

Alpha Company reported the following figures:

Inventory on July 1 = $75,000

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