The information about the marginal cost, average total cost, and average variable cost at the profit-maximizing point of production when a price ceiling has been imposed will be:
- Not higher than $10.
- Higher than $14.
- Higher than $10.
From the complete question, it should be noted that under perfect competition, in order to maximize profit, the price will be equal to the marginal cost. Based on the information given, the marginal cost won't be more than $10 due to the fact the ceiling price is at this price. Therefore, the <em><u>marginal cost</u></em><em> won't be more than $10.</em>
A firm in perfect competition will earn economic profit in the long run when the profit becomes zero. Therefore, the average total cost must be higher than $14.
Finally, the average variable cost won't be more than $10. This is because the price can't fall below the equilibrium price in order to maximize profit in perfect competition.
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The answer is <span>B. The XYZ company will be responsible for manufacturing all the glass needed to build the cars. </span>
Answer:
The administrative expenses in the planning budget for June would be closest to:
- d. $5,670 ⇒ $5,400 + (2,700 x $0.10) = $5,400 + $270 = $5,670
The net operating income in the planning budget for June would be closest to:
- c. $16,220 ⇒ ($47.80 x 2,700) - [$50,200 + (2,700 x $23.20)] = $129,060 - ($50,200 + $62,640) = $129,060 - $112,840 = $16,220
The medical supplies in the flexible budget for June would be closest to:
- d. $18,440 ⇒ $1,700 x (2,700 x $6.20) = $1,700 + $16,740 = $18,440
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