For a monopolist b. price is above marginal revenue.
<h3>What Is Marginal Revenue? </h3>
Marginal revenue can be regarded as increase in revenue which is been gotten from the sale of one additional unit of output.
As a monopolist that is the the only seller in the market, then their marginal revenue is usually above price because they don't have a competitor that is close enough.
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A. strategic
These decisions are made high in the hierarchy.
Answer:
Cost of goods sold =$61,5300
Gross Profit = $144,700
Explanation:
Given the information:
- Purchase : $630,000
- Purchase Returns and Allowances $25,700
- Prchases Discounts $10,900
- Freight-In $18,300
- beginning inventory of $45,000
- ending inventory of $64,600
- net sales of $760,000
As we the, the fomular for total Goods Available for Sale
=
Beginning Inventory + Purchases + Freight-In - Purchase Returns and Allowances - Purchases Discounts
= $45,000 + $630,000 + $18,300 - $25,700 - $10,900
= $67,9900
=> Cost of goods sold = Total Goods Available for Sale - ending inventory
= $67,9900 - $64,600
= $61,5300
=> Gross Profit = Net sales - Cost of goods sold
= $760,000 - $61,5300
= $144,700
Hope it will find you well.
Answer:
http://www.mrbartonmaths.com/resources/GCSE%20Revision/GCSE%20Maths%20Takeaway/4.%20Grades%20B%20to%20A-star/107.pdf
Explanation:
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Answer:
Price floor binding
b. price ceiling binding
price floor and binding
Explanation:
A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
The minimum price of milk is above equilibrium price. So, it is a binding price floor
The maximum price of milk is below equilibrium price. It is binding price ceiling
If teenagers can't find jobs due to minimum wages law. It means that the minimum wage must be above equilibrium price. This is because it is when price is above equilibrium price that supply of labour outstrips demand. So, it is a binding price floor
