All categories

3 years ago

For a monopolistically competitive firm, at the profit-maximizing quantity of output,

1 answer:

5 0

The rest of it will be: price equals marginal cost. But this indeed is not true. The most accepted idea is that for a monopolistically competitive firm the average revenue and price are the same quantity. Now, when a monopolistically competitive firm is in long-run equilibrium, then the marginal revenue is equal to marginal cost.

You might be interested in

In year 1 the average price of X is $10, and in year 2 the average price of X is $23. If consumers buy more units of X in year 2

xeze [42]

Answer:

Explanation:

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls

If good X is a normal good and the consumers income increases, the demand for good X would increase

It would have been that the Law of demand not supply that didn''t hold

according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

8 0

3 years ago

Sapphire Aerospace operates 52 weeks per year, and its cost of goods sold last year was $6,500,000. The firm carries eight items

OLEGan [10]

a. The average aggregate inventory value is <em>$336,000.</em>

b. The number of weeks of supply that the firm has is <em>3 weeks</em>, approximately (2.69 ($336,000/$6,500,000 x 52).

c. The inventory turnover of Sapphire Aerospace for last year was<em> 19.3x.</em>

<u>Question Completion</u>:

Category Part Number Average Value Total Category

Inventory Units per Unit Value Totals

Raw Materials RM-1 20,000 $1 $20,000

Materials RM-2 5,000 5 25,000

RM-3 3,000 6 18,000

RM-4 1,000 8 8,000 $71,000

Work-in-process WIP-1 6,000 10 60,000

WIP-2 8,000 12 96,000 $156,000

Finished goods FG-1 1,000 65 65,000

FG-2 500 88 44,000 $109,000

Total value of inventory $336,000 $336,000

Inventory turnover = Cost of goods sold/Average inventory

= 19.3x ($6,500,000/$336,000)

Thus, the average inventory value is $336,000, while the inventory turnover was 19.3x.

Learn more about inventory turnover here: brainly.com/question/5701250

3 0

3 years ago

The opportunity cost of an action: can be determined by considering both the benefits that flow from as well as the monetary cos

yarga [219]

<h3>Hello there!</h3>

Your question asks what an opportunity cost of an action is.

<h3>Answer: D). is a subjective valuation that can be determined only by the individual who chooses the action.</h3>

The reason why answer choice "D). is a subjective valuation that can be determined only by the individual who chooses the action" is correct because an opportunity cost of an action is not the same for everyone.

An opportunity cost of an action is subjective, meaning that the action can be determined by someone's opinion, feelings, etc. Everyone thinks differently, therefore making everyone's opportunity cost of action different.

A opportunity cost of an action also is determined by the individual themselves, not anyone else. That's why the action is subjective, due to the fact that the decision on the action is determined by the individual personal opinions and feelings.

<h3>I hope this helps!</h3><h3>Best regards,</h3><h3>MasterInvestor</h3>

8 0

4 years ago

Which general staff member directs all responses and tactical actions to achieve the incident?.

ch4aika [34]

The Operations Section Chief directs all responses and tactical actions to achieve the incident objectives.

<h3>What is Operations Section Chief ?</h3>

The Operations Section Chief, a member of the General Staff, is in charge of all operations directly related to the core mission. The Operations Section Chief initiates, supervises, and leads the execution of organizational elements in accordance with the Incident Action Plan.

The Operations Section Chief directs tactical incident activities to achieve incident objectives and oversees the implementation of the Incident Action Plan (IAP). 1. This role can be ordered as a stand-alone resource or as part of a National Incident Management System (NIMS) team (Incident Management Team).

The OSC1 works in the Operations functional area and reports to the Incident Commander (IC). The OSC1 performs duties corresponding with the Type 1 incident complexity and characteristics outlined in the Interagency Standards for Fire and Firefighting.

To know more about Operations Section Chief follow the link:

brainly.com/question/25870256

#SPJ4

4 0

2 years ago

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) A T-bill quote sheet h

VashaNatasha [74]

Answer:

1) B

2) A

3) D

Explanation:

1) Discount yield(%) = Face value - Purchase value/Face value X 360/Maturity ( in days) X 100%

Discount yield (quote) = 5.11; Face value = $10,000; Let Purchase value = x; Maturity = 90 days

(5.11)% = $(10,000 - x)/$10,000 X 360/90 X 100%

5.11 = 400(10,000 - x)/10,000

x = 4,000,000 - 51100/400 = 3,948,900 = $9,872.25

3) Face value = $10,000; Purchase value = $9,850; Maturity = 120 days

Investor's bond equivalent yield(%) = $(10,000 - 9,850)10,000 X 360/120 X 100%

= 45/10 = 4.5%

4 0

3 years ago