1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
statuscvo [17]
3 years ago
7

Verslas is a firm operating in a monopolistically competitive market. It is currently maximizing profit with an output of 1,200

units and a price of $5. Based on this information, which of the following statements must be true?
a. Verslas could not sell more units by lowering its price.
b. Verslas is earning normal profit.
c. Verslas is earning $3,600 in profit.
d. Verslas has a marginal revenue less than $5.
e. Verslas has a marginal revenue greater than $5.
Business
1 answer:
Marina86 [1]3 years ago
3 0

Answer:

b

Explanation:

A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.

An example of monopolistic competition are restaurants  

When firms are earning positive economic profit, in the long run, firms enter into the industry. This drives economic profit to zero

If firms are earning negative economic profit, in the long run, firms leave the industry.  This drives economic profit to zero

in the long run, only normal profit is earned

If Verslas is producing at a profit maximising point, it means that marginal revenue equal marginal revenue and the firm is earning a normal profit

You might be interested in
According to maslow, what is a need?<br><br> not what are the needs but what IS a need?
qaws [65]

Answer:

a need is something you need to live/survive its something you cant live without

Explanation:

7 0
3 years ago
The following data have been provided by Liggett Corporation: Budgeted production 7,400 units Standard machine-hours per unit 6.
abruzzese [7]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Budgeted production 7,400 units Standard machine-hours per unit 6.6 machine-hours Standard lubricants rate $ 3.50 per machine-hour

Actual production 7,600 units Actual machine-hours (total) 49,840 machine-hours Actual lubricants cost (total) $ 179,821

Manufacturing overhead spending variance= (standard rate - actual rate)* actual quantity

Manufacturing overhead spending variance= (3.5 - 3.607965)*49,840= 5,381 unfavorable

5 0
3 years ago
What are the main features of an oligopolistic market?
dexar [7]

Answer:

  • Few firms: ADVERTISEMENTS: ...
  • Interdependence: Firms under oligopoly are interdependent. ...
  • Non-Price Competition: ...
  • Barriers to Entry of Firms: ...
  • Role of Selling Costs: ...
  • Group Behaviour: ...
  • Nature of the Product: ...
  • Indeterminate Demand Curve

Explanation:

pls mark brainliest

8 0
2 years ago
Based on the information in the article, which title would be most appropriate?
mylen [45]

Answer:

Common evaluation criteria include: purpose and intended audience, authority and credibility, accuracy and reliability, currency and timeliness, and objectivity or bias.

Explanation:

3 0
3 years ago
Read 2 more answers
A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of $18,000, cost of goods ma
monitta

Answer:

C. $31,100

Explanation:

The computation of the cost of goods sold is presented below:

= Beginning finished goods inventory + Cost of goods manufactured - ending finished goods inventory

= $14,600 + $35,200 - $18,700

= $31,100

We simply added the cost of goods manufactured and deduct the ending finished goods inventory to the beginning finished goods inventory so that the cost of goods sold could come

3 0
3 years ago
Other questions:
  • What should you do to elicit the most useful data in your interviews? Ask primarily yes-or-no questions. Ask leading and ambiguo
    11·1 answer
  • Look at the table the utility of macaroni and cheese. carmen loves macaroni and cheese for thanksgiving. carmen's marginal utili
    15·1 answer
  • ) suppose that currency in circulation is $600 billion, the amount of checkable deposits is $900 billion, and excess reserves ar
    5·2 answers
  • Which form does RESPA require lenders to use to detail the costs that the buyer and seller will pay at closing?
    11·1 answer
  • Some highways have commuter or express pass lanes. During rush hour lanes on the highway move slowly or often are stop and go, b
    8·1 answer
  • Addams Corporation paid cash dividends totaling $75,000 during its most recent fiscal year. How should this information be repor
    8·1 answer
  • Value stream mapping (VSM):_____.
    14·1 answer
  • Marketing mangers use both discounts and allowances, which are reductions from the list price given, as a reward for performing
    12·1 answer
  • b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the
    8·1 answer
  • Depreciation by Two Methods
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!