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lbvjy [14]
3 years ago
15

Producer surplus in a perfectly competitive industry is the same thing as revenue. the difference between profit at the profit-m

aximizing output and profit at the profit-minimizing output. the difference between revenue and fixed cost. the difference between revenue and variable cost. the difference between revenue and total cost.
Business
1 answer:
Damm [24]3 years ago
6 0

Answer:

the difference between revenue and variable cost

Explanation:

As we know that

Producer surplus is = Total Revenue - Total Variable Cost

So here we can see that the producer surplus would be the difference between the revenue & the variable cost in the industry i.e. perfectly competitive

Hence, the second last option is correct

And, the other options are wrong

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An organization decides to improve its raw material handling process by buying a material handling robot. This is an example of
Leona [35]

Answer:

B. Automation

Explanation:

Option A is incorrect as a human resource cannot be a material handling robot.

Option C is wrong as statistical quality control cannot do the same task as a material handling robot can. Statistical quality control can ensure quality by minimizing risk.

Options D and E are incorrect, respectively, as flexible manufacturing cannot improve the raw materials, and fixed layouts cannot be the element of the raw material process.

Option B is correct as a material handling robot is a machine. Therefore, automation is necessary to improve the raw materials handling process.

8 0
3 years ago
5. Michael told Greg to sell his collection of vintage heavy metal band t-shirts. He
kiruha [24]

Answer:

The correct answer is Greg. He is the agent.

Explanation:

First of all, the term <em>agent</em>, in business, is understand as the individual that currently <em>manages another person's business affairs</em> and that commonly spend much of his time negotiating contracts for his clients.

Secondly, according to the definition of agent, it is understandable that in this case the agent is Greg due to the fact that he is the one that has to sell the collection, under Michael's orders.

4 0
3 years ago
Nadal Corporation manufactures custom molds for use in the extrusion industry. The company allocates manufacturing overhead base
Anna11 [10]

Answer:

C.$46,730

Explanation:

Nadal Corporation manufactures custom molds for use in the extrusion industry. Based on the data available we first see the formula to calculate the total manufacturing cost of the job 532.

In general, sum of all the cost directly or indirectly included in the manufacturing cost. Therefore the formula is as below

Total Manufacturing Cost = Direct Labor Cost + Direct Materials Cost + Manufacturing Overhead Cost.

Direct labor cost $36,800

Direct materials used $5,000

Predetermined manufacturing overhead rate based on machine hours $17  which is = $17 x 290 hours

Manufacturing cots= 4930$

Total Manufacturing Cost = 36800 + 5000 + 4930

Total Manufacturing Cost = 46,730$

3 0
3 years ago
Kara wants to build a business. She has plenty of capital and potential investors and partners. She wants to avoid the burden of
Akimi4 [234]

Answer:

The correct answer is B.

Explanation:

The fact that Kara has plenty of capital means she most likely would not need financial intervention from any other party.

It is not logical for her to bring in a partner who will share profits when she has invested all the capital. Because she will enjoy all the proceeds from the business alone, she will also bear all liabilities.  

Cheers!

4 0
3 years ago
Read 2 more answers
To conduct an experiment, a movie theater increased movie ticket prices from $9 to $10 and measured the change in ticket sales.
AleksandrR [38]

Answer:

1. The elasticity of demand for movie tickets must be INELASTIC.

2. Demand curves become LESS elastic in the long run. This means that the ticket price increase will likely be MORE profitable in the long run.

Explanation:

1. As demand is inelastic, the percentage of price increase will be greater than the decrease in the quantity of tickets demanded, and consequently profit will increase.

2. In the long term, demand becomes inelastic. Consequently, in the long term the percentage of the price increase will continue to be greater than the percentage of decrease in the quantity of tickets demanded.

7 0
3 years ago
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