Answer:
Some sellers can set prices
Explanation:
Characteristics of competitive firms:
1. All sellers are price takers. No seller can influence market price.
2. All buyers are price takers
3. Forces of demand and supply determine market price.
4. All products are homogenous
5. There are no barriers to entry or exist of firms
6. There is perfect information
Answer:
It will be a violation of real estate law
Explanation:
Based on the information provided within the question it can be said that the if the Island View Broker agrees It will be a violation of real estate law. This is because until a deal is completely closed the deal can change and not go through. Some states and brokers allow this but will provide a discounted commission.
Answer:
see below
Explanation:
Mean is the average of a set of data or numbers. if the mean is 13, it implies that on average, the width of one iPad is 13cm.
a). Width of 12 iPads is 13cm.
Total width will be 12 x 13
= 156 cm
b). Total width of candles
mean of 8 candles is 12 cm
total width = 8 x 12
=96 cm
c). mean of iPads and candles
=width of iPads + width of candles divided by total of candles and iPads
= (156cm + 96cm) / (12 + 8)
=252 /20
=12.6 cm
Answer:
$18,650
Explanation:
FIFO means first in, first out. It means its the oldest inventory that are sold first .
If the company sold 800 inventory, the 800 would be taken from the beginning inventory which is a total of 450 and the remaining 350 would be taken from the inventory produced in January.
Cost of goods sold
450×$22 = $9,900
350 ×$25= $8,750
$9,900 + $8,750 = $18,650
I hope my answer helps you
Question:
Please see the Demand and Cost information reproduced in the attached table
Answer:
The correct choice is A)
Profit if maximized where price is equal to $20.
At this price, MR = MC.
Please see the attached PDF.
Explanation:
The profit-maximizing choice for the monopoly will be to produce at the quantity where marginal revenue is equal to marginal cost:
That is, the point where MR = MC.
If the monopoly produces a lower quantity, then MR > MC at those levels of output, and the firm can make higher profits by expanding output.
Cheers!
