Profit will be maximum for the firm where marginal revenue = marginal cost.
Since, the market price is fixed at $8 and therefore each additional unit of camera will be sold at $8.
Hence, marginal revenue = $8.
From the table, it is clear that cameras are manufactured in batches of 100.
Marginal cost is the cost incurred to produce one additional unit of camera. It will be calculated by taking the difference of successive variable costs (or total costs) divided by 100.
To produce 400th unit, marginal cost = (2760 - 1960)/100 = $8
Hence, profit maximising quantity isB. 400 (MR = MC)
Answer:
B) Political
Explanation:
Bolman and Deal's Four-Frame model describes 4 different management frames:
- Structural
- Human Resource
- Political
: addresses the problems generated by conflicting interest groups vs individual interests within an organization. Politics exist within organizations and they are a way of defining power players (who are not necessarily the supervisors or managers). Coalitions are built between the power players to solve any rising conflicts, and to support the power players' initiatives.
- Symbolic
Doug is trying to expand his power within the organization through "political" alliances with other power players.
Answer:
A.
Explanation:
I would think A. cuz the others does make much sense. I apologize if its incorrect.
Answer:
False
Explanation:
The competitive market works completely on the force of demand and supply. In this market there is no other restrictions or perks from any third party.
With this the prices of any commodity depends upon the free flow of market.
When the government imposes any restriction on price ceiling, in the competitive market then the shortage of goods arise, as because no individual supplier generally, gets ready to supply the goods at such binding price, which generally, leads to inflation, which is not practical as government has binding price ceiling.
Thus, the statement is false.
Answer:small; standardized (commodity); little, if any
Explanation:
A firm which operates in a perfectly competitive market are characterised by:
1. Many sellers. Therefore sellers have a small market share.
2. Goods are homogenous or standardised.
3. There's little or no need for advertising
4. Firms are price takers. Market price is set by forces of demand and supply.
5. There are no barriers to entry or exit of firms.
6. Firms make zero economic profit in the long run.
I hope my answer helps you.
