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Answer: c. Marginal Cost
Explanation:
A Competitive firm operates in a market where they are price takers. This means that the price they charge is equal to both their average revenue and their Marginal Revenue.
P = MR = AR
Companies maximise profit at a point where Marginal Revenue equals Marginal Cost because at this point, resources are being fully utilized.
If the Competitive firm's Price is the same as its Marginal Revenue this means that to maximise profits, the firm should choose an output level where the price is equal to the marginal cost.
Answer:
Incremental income for Sale as scrap is $36,400 and Rework is $46,200
Explanation:
Sale as scrap Rework
Sales of reworked units (13000*8.2) $106,000
Sales of scrap units (13000*2.8) $36,400
Cost to rework units (13000*4.6) ($59,800)
Opportunity cost of not making new units
Incremental income (loss) $36,400 $46,200
Answer:
SEQUENTIAL INTERVIEW
Explanation:
A serial or sequential interview comprises of many successive interviews. This kind of scenario of interviewing can be exhausting and tedious. Even if you interview various people, the same answers may be asked again and again. Regardless of how many times you have had to repeat yourself, for each session you need to generate compelling passion.
