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4 years ago

If production is occurring where marginal cost exceeds price, the purely competitive firm will __________.

Business

1 answer:

devlian [24]4 years ago

8 0

Answer:

C. fail to maximize profit and resources will be overallocated to the product

Explanation:

At MC < P, the firm may earn profit but that is not maximum the maximu profit condition is that MR = MC and in perfect competition MR = P so MC = P is the maximum condition.

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Just For Me is a line of hair care products for pre-teenage girls, that is, girls between the ages of eight and twelve. This is

soldi70 [24.7K]

Using Taylor Swift to Market a product for young black girls is extremely odd. The only way this will work is if the girls were fans and believed there hair would look like hers.

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3 years ago

The following data (in thousands of dollars) have been taken from the accounting records of Karmint Corporation for the just com

Fittoniya [83]

Answer:

B) $420

Explanation:

Raw materials inventory, beginning - $50

add: purchases of raw materials - $150

less: raw materials inventory, ending - $40

equals: raw materials used - $160

add: direct labor - $140

add: manufacturing overhead - $160

equals: Total Manufacturing Cost - $460

add: work in process inventory, beginning - $30

equals: Cost of Goods Put into Process = $490

less: work in process inventory, ending - $50

equals: Cost of Goods Manufacture - $440

add: finished goods inventory, beginning - $80

equals: Cost of Goods Available for Sale - $520

less: finished goods inventory, ending - $100

equals: Cost of Goods Sold - $420

Cost of goods sold (COGS) refers to the direct costs attributable to the production of the goods sold in a company.

This amount includes the cost of the materials used in creating the good along with the direct labor costs used to produce the good.

It excludes indirect expenses, such as distribution costs and general and selling expenses.

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4 years ago

Perfect competition has _____ sellers. no one many

Maru [420]

A perfect competition is a type of market, in which there are many sellers and buyers who has fuul knowledge of the market. All element of monopoly (one man seller or buyer) is eliminated and the market price of a commodity is not controled by any individual buyer or seller.

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4 years ago

Read 2 more answers

Ferris Company began 2018 with 6,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for t

Nuetrik [128]

Answer:

date of purchase units cost per unit total cost

beginning inv. 6,000 $6 $36,000

January 10 5,000 $7 $35,000

January 18 6,000 $8 $48,000

total 17,000 $7 $119,000

date of sale units

January 5 3,000

January 12 2,000

January 24 4,000

ending inventory = 8,000 units

1. FIFO, periodic system.

ending inventory = (6,000 x $8) + (2,000 x $7) = $62,000

2. LIFO, periodic system.

ending inventory = (6,000 x $6) + (2,000 x $7) = $50,000

3. LIFO, perpetual system.

COGS = (3,000 x $6) + ((2,000 x $7) + (4,000 x $8) = $64,000

ending inventory = $119,000 - $64,000 = $55,000

4. Average cost, periodic system.

ending inventory = 8,000 x $7 = $56,000

5. Average cost, perpetual system.

COGS = (3,000 x $6) + ((2,000 x $6.625) + (4,000 x $7.3125) = $60,500

ending inventory = $119,000 - $60,500 = $58,500

4 0

3 years ago

What are the benefits and drawbacks of treating coffee as a commodity in the marketplace? What do you predict will be the future

Amanda [17]

The benefit of treating coffee as a commodity is that it creates opportunity for the future and the drawback is that we need different more specialised workers for the business.

Given that we need to treat coffee as a commodity.

We are required to give the benefits and drawbacks and make a prediction about future.

The benefits of treating coffee as a commodity are:

It creates an opportunity for the future as when we treat it as a commodity it creates a good business today and in future .
It creates a product specialisation.
It makes promotion easy.

The drawbacks of treating coffee as a commodity are:

We need to make a separate market for the coffee.
We need to hire specialised workers.

The future of coffee is very bright. We can see that now a days the people are liking coffee than tea and shifting towards coffee from tea.

Hence the benefit of treating coffee as a commodity is that it creates opportunity for the future and the drawback is that we need different more specialised workers for the business.

Learn more about specialisation at brainly.com/question/24448534

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1 year ago