If a competitive firm can make enough revenue to cover its variable costs, the firm will: choose to remain open.
Variable costs are costs that alternate as the amount of the coolest or carrier that a enterprise produces modifications. Variable charges are the sum of marginal fees over all gadgets produced.
They also can be taken into consideration normal charges. fixed prices and variable costs make up the two components of overall price.
Variable costs are costs that change as the quantity changes. Examples of variable costs are raw materials, piece-rate hard work, production substances, commissions, transport prices, packaging components, and credit score card prices. In some accounting statements, the Variable prices of production are referred to as the “fee of goods offered.”
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To calculate the cross elasticity of demand you divide the percent change in quantity by the percent change in price.
5/3 = 1.666
Answer:
Option D. $80,000
Explanation:
The Fair Market Value that Jane has paid of land is $50,000. The liability of $30,000 is attached with this land which Jane has taken as a payment to Will. So the total payment that Will has received = $50,000 + $30,000 = $80,000.
So this $80,000 is the fair market value of land that will be realized.
