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Reptile [31]
2 years ago
6

Suppose a firm in a competitive market earned $3,000 in total revenue and had a marginal revenue of $30 for the last unit produc

ed and sold. What is the average revenue per unit, and how many units were sold
Business
1 answer:
Vera_Pavlovna [14]2 years ago
3 0

Answer:

100 units were sold at $30 per unit

Explanation:

theoretically, in a perfect competition market, the price of a good = marginal revenue = marginal cost. Also, the market sets the price, not the individual firm.

If total revenue = $3,000 and marginal revenue per unit = $30, then we can assume that the sales price of each unit was $30, therefore, they sold $3,000 / $30 = 100 units.

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Consider the impact of the following two events in the television market.First, people are using more tablets and fewer televisi
babunello [35]

Answer:

The correct answer is option B.

Explanation:

As people are using more tablets and fewer television sets, the demand for television sets will decline. This will cause the demand curve to shift to the left. As a result, the price level will decline.  

Now, with new production technique the cost of production declines. As a result, there will be an increase in the supply as the firm will be able to produce more at the same cost. This will cause the supply curve to shift to the right. This rightward shift in the supply curve may lead to an increase or decrease in the quantity of output. It depends on the extent of change in supply.

7 0
3 years ago
Assume you sell short 100 shares of common stock at $50 per share, with an initial margin at 50%. The stock paid no dividends du
son4ous [18]

Answer:

40%

Explanation:

Initial amount invested  = $50 × 100 × 50% = $2,500

Profit from sale and repurchase = ($50 - $40) × 100 = $1,000

Rate of return = $1,000 ÷ $2,500 = 0.40, or 40%.

Therefor, the rate of return would be 40%.

4 0
3 years ago
A decrease in demand, with supply constant, results in a(n)
riadik2000 [5.3K]

Answer:

The correct answer is decrease in equilibrium price and a decrease in equilibrium quantity.

Explanation:

The supply being constant, a decrease in demand will cause the demand curve to shift to the left while the supply curve will remain the same.

The new demand curve will intersect the supply curve at a lower point. This rightward shift in the demand curve will cause both the equilibrium quantity as well as the equilibrium price to fall.  

4 0
3 years ago
Review and complete the following statement regarding the Income Summary account.
torisob [31]

Answer:

Revenues are Credited, Expenses are Debited and the difference of Revenue and Expenses is credited in the Retained Earnings.

Explanation:

The revenue and retained earnings account are credit in nature and expenses are debit in nature.

This can be Explained from the following equation:

Closing Equity = Opening Equity + (Revenue - Expenses)

Closing Equity - Opening Equity = (Revenue - Expenses)

Earnings Retained by the Company = (Revenue - Expenses)

So the difference of the revenues and expenses goes to retained earnings. If the answer of the difference is positive then the retained earnings are credited otherwise it is credited. So as I said that revenues are credit in nature so if their is profit (credit is in access of debit or in other words revenues are in excess of expenses) then the retained earnings will be credited and if their is a loss then the retained earnings account will be debited.

8 0
2 years ago
The balance sheet of Messi Services included the following shareholders' equity section at December 31, 2021:
Westkost [7]

Answer:

a. $ 1,068 $ 556

Explanation:

Calculation for what the balances in the paid-in capital—excess of par and retained earnings accounts are:

Calculation for Paid up capital in excess of par

Paid up capital in excess of par=$1,080-[($1,080/180)*2million shares]

Paid up capital in excess of par=$1,080-($6 per share*2million shares)

Paid up capital in excess of par =$1,080-$12

Paid up capital in excess of par=$1,068

Calculation for the Retained Earnings

Retained Earnings=$560-$4

Retained Earnings=$556

Therefore the balances in the paid-in capital—excess of par and retained earnings accounts are:$ 1,068 and $ 556

6 0
2 years ago
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