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olga55 [171]
3 years ago
8

Perfectly competitive firms will: increase output up to the point that the marginal revenue of an additional unit of output is e

qual to the marginal cost. increase output up to the point that the marginal revenue of an additional unit of output is greater than the marginal cost. always attempt to minimize average variable cost. maximize total revenue by using the marginal decision rule.
Business
1 answer:
zavuch27 [327]3 years ago
7 0

Answer:

increase output up to the point that the marginal revenue of an additional unit of output is equal to the marginal cost.

Explanation:

In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.

This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.

Generally, a perfectly competitive market is characterized by the following features;

1. Perfect information.

2. No barriers, it is typically free.

3. Equilibrium price and quantity.

4. Many buyers and sellers.

5. Homogeneous products.

Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market.

Perfectly competitive firms always strive to maximize profits by increasing their level of output, such that P = MC.

In a nutshell, in the long run equilibrium P = MR = MC.

Where;

P is the profit.

MR is the marginal revenue.

MC is the marginal cost.

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Which of the following is the best description of
olganol [36]

Answer:

D. Changing practices superficially to appear more  environmentally friendly to consumers than they  truly are.

Explanation:

Greenwashing is the act of corporate companies in their attempts to convey a false impression to their customers that their products are environmentally friendly. Through this process, they provide misleading information.

Companies provide misleading information to their customers, in making the impression that their products are more environmentally friendly than other products. Thus, <u>greenwashing can be described as changing the practices of the company/ brand superficially so that they appear more environmentally friendly than they really are to customers</u>.

4 0
3 years ago
Your friend has $80 when he goes to the fair. He spends $4 to enter the fair and $12 on food. Rides at the fair cost $1.25 per r
padilas [110]

Answer:

f(x) = -1.25x + 64 I hope this helps :)

Explanation:

total amount of money: $80

He spent $16 for the entrance of the fair and food.

80-(4+12) = 64

After that you subtract $1.25 per ride = -1.25x

Then it gives the function:

f(x) = -1.25x + 64

6 0
3 years ago
Columbia Products produced and sold 1,400 units of the company’s only product in March. You have collected the following infor
s344n2d4d5 [400]

The computation of the following costs by Columbia Products is as follows:

a. Variable manufacturing cost per unit is $64.

b. Full cost per unit is $96, including manufacturing and marketing and administrative costs.

c. The variable cost per unit is $68.

<h3>Data and Calculations:</h3>

Production and sales units in March = 1,400 units

Sales price (per unit) = $129

<h3>Manufacturing costs: </h3>

Fixed overhead (for the month) = $16,800

Direct labor (per unit) =              $7

Direct materials (per unit)          31

Variable overhead (per unit)    26

Variable manufacturing cost $64

The Fixed cost per unit = $12 ($16,800/1,400)

The total manufacturing cost per unit = $76 ($64 + $12)

<h3>Marketing and administrative costs: </h3>

Fixed costs (for the month) = $22,400

Variable costs (per unit)  = $4

Fixed costs per unit =        $16 ($22,400/1,400)

The total marketing and administrative costs per unit = $20 ($4 + $16)

Full cost per unit = $96 ($76 + $20)

Variable cost per unit = $68 ($64 + $4)

Learn more about variable, fixed, and full costs here: brainly.com/question/15684424

4 0
2 years ago
Which one of the following parties has ultimate control of a corporation?
mariarad [96]

E) Shareholders

Good luck!!!

7 0
3 years ago
All of the following are current focuses of ai research except? perception.cognitive surplus.knowledge representation.natural la
egoroff_w [7]

All of the following are current focuses of ai research except cognitive surplus. Thus, option B is correct.

<h3>What is AI research? </h3>

With an emphasis on automating investigation methods from creating a theory to carrying out trials, the use of AI throughout research must have significantly increased.

The AI research all included perception, knowledge representation, and natural language processing.

A person's cognitive surplus is indeed a combination of their attention, effort, ingenuity, and charity, which promotes efficiency, innovation, and cooperation with in technology world. Therefore, option B is the correct option.

Learn more about  AI research, here:

brainly.com/question/14340459

#SPJ1

7 0
1 year ago
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