Based on the marginal cost and the marginal revenue to this monopolistically competitive firm, in the short run the firm should increase the level of output.
<h3>Why should the firm increase output?</h3>
Firms will maximize their profit if they produce at a point where marginal cost equals marginal revenue.
As the marginal revenue is $25 and the marginal cost is $20, the firm should increase output until both these things are the same.
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Answer:
$3.75
Explanation:
As we already know that
Direct materials quantity variance = (Budged pounds of direct material - Actual pounds of direct material) × Standard rate
$1,500 unfavorable = (4,400 pounds - 4,800 pounds) × Standard rate
$1,500 unfavorable = 400 × Standard rate
So, standard rate is
= $1,500 ÷ $400
= $3.75
We simply applied the above formula
The situation best outlines Competitive Failure. In financial aspects, advertise disappointment is a circumstance in which the portion of products and ventures isn't proficient. That is, there exists another possible result where no less than one individual might be improved off without exacerbating another person off.
Answer:
Semi-strong form efficiency.
Explanation:
Semi-strong form efficiency contends that security prices have factored in publicly-available market and that price changes to new equilibrium levels are reflections of that information. It is considered the most practical of all Efficient Market Hypothesis(EMH) hypotheses but is unable to explain the context for material nonpublic information (MNPI). It concludes that neither fundamental nor technical analysis can be used to achieve superior gains and suggests that only MNPI would benefit investors seeking to earn above average returns on investments.
Answer: (d.)The bakery faces a flat demand curve.
Explanation:
The bakery faces a flat demand curve because a firm in a perfectly competitive market is a price taker and the demand curve for a firm is equal to the price the supply curve is a part of Marginal cost above Average variable cost , so the supply curve is upward sloping
. The bakery is in the perfectly competitive market so it can earn positive, negative or zero economic profit in the short run and zero economic profit in the long run.
