Answer:
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Answer:
ii) Average revenue equals $10
Explanation:
A perfectly competitive market is where there are many buyers and sellers of homogenous goods. They are price takers. Price = marginal cost = marginal revenue = average revenue
Total revenue = price × quantity sold
$500 = price × 50
Price = $10
Average revenue = Total revenue / output
$500 / 50 = $10
An equilibrium price is where the quantity of goods supplied is equal to the quantity of goods demanded. So if supplies of the said product goes down the equilibrium will go down and the price and demand will be higher.
Answer:
The correct answer is B: Planning.
Explanation:
Planning is a key fundamental management function. It is deciding beforehand how are you going to achieve the objectives previously determined. Planning is deciding what needs to be done, when, who and how.
In this case, Amanda set the targets of the salesperson in order to achieve the organizational goals. By planning the sales required, she believes it will take her a step closer to the goals of the period.
