1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
VMariaS [17]
3 years ago
12

A competitive firm maximizes profit by choosing a level of output where the world price is equal to the firm's

Business
1 answer:
klemol [59]3 years ago
6 0

Answer: c. Marginal Cost

Explanation:

A Competitive firm operates in a market where they are price takers. This means that the price they charge is equal to both their average revenue and their Marginal Revenue.

P = MR = AR

Companies maximise profit at a point where Marginal Revenue equals Marginal Cost because at this point, resources are being fully utilized.

If the Competitive firm's Price is the same as its Marginal Revenue this means that to maximise profits, the firm should choose an output level where the price is equal to the marginal cost.

You might be interested in
If a Florida strawberry wholesaler operates in a perfectly competitive market, that wholesaler will have a _____ share of the ma
aniked [119]

Answer:

small; standardized; little or no

Explanation:

A perfect competition is when there are many firms in an industry selling standardised or identical goods and services. It is characterised by many buyers and sellers . Sellers have small market share because of the large number of sellers in the market. Prices are usually set by market forces. Sellers cannot influence the price their products sell for , therefore, they are price takers.

There is little or no need for advertising as all firms sell identical goods.

I hope my answer helps you.

7 0
3 years ago
When ruko, a device used to stream movies at home, increases prices by 48% total revenue decreases by 61%?
Free_Kalibri [48]

Answer: Demand is elastic

Explanation:

Total revenue from the sale of a good is negatively related to the price when demand for the good is elastic and positively related to the price when demand for the good is inelastic.

So, as increase in price by 48% decreases total revenue by 61%, therefore the demand for Ruko, a device used to stream movies at home is elastic.

3 0
3 years ago
Interpretation of intelligence test scores is based on the assumption that the scores are normally distributed within a populati
Finger [1]

Answer: According to complete question "more than two-thirds of children will score between 85 and 115".

Explanation:

The solution to this issue is it, even though the Wechsler Ratios of Intellect scores are "standardized" to an average of 100 and a margin of error of 15 based on the standardized system used only to start scoring IQ.

So between 85 and 115 will be 68 that for each cent of the results.

Therefore the result stand between 85-115.

3 0
3 years ago
If a bond's yield to maturity is less than its coupon rate, the bond will sell at a _____, and increases in market interest rate
KiRa [710]

If a bond's yield to maturity is less than its coupon rate, the bond will sell at a premium, and increases in market interest rates will decrease this premium.

If the bond's coupon rate is lower than YTM, the bond will be sold at a discounted price. If the bond's coupon rate is higher than its YTM, the bond is sold at a premium. If the bond's coupon equals YTM, the bond is sold at face value.

If the coupon is higher than the yield, investors should expect the bond's capital value to fall over the remaining term. Therefore, the price of the bond must be higher than its face value. If the bond's coupon rate is lower than its lifetime, the bond's price increases over its remaining lifetime.

If the interest rate falls below the coupon, the bond can be sold at a premium above face value. Interest rates on bonds vary according to prevailing interest rates and perceived risks of the issuer. Suppose he has a 10-year bond for $5,000 with a 5% coupon.

Learn more about bonds here brainly.com/question/25965295

#SPJ4

7 0
1 year ago
Write 8,770,709 in word form Math
Leno4ka [110]

Answer:EIGHT MILLION SEVEN HUNDRED SEVENTY THOUSAND SEVEN HUNDRED NINE

sorry about the caps

Explanation:

5 0
3 years ago
Read 2 more answers
Other questions:
  • Paulette goes to an electronic store to purchase a refrigerator. after comparing the technical features, prices, and durability
    12·1 answer
  • What does advice of deposit mean on a check?
    10·1 answer
  • A standing bill is one that has been passed as a law.<br> a. True<br> b. False
    5·2 answers
  • Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for River R
    6·1 answer
  • The use of debt is called A. financial leverage. B. production leverage. C. operating leverage. D. total asset turnover risk. E.
    11·2 answers
  • When higher prices result in a lower quantity demanded, economists call this relationship: a. the law of quantity. b. the demand
    15·1 answer
  • Alpha Company uses its sales invoices for posting perpetual inventory records. Inadequate control activities over the invoicing
    10·1 answer
  • What is the cell membrane? ​
    11·1 answer
  • What is another term for the buying and selling of stocks?
    14·2 answers
  • jim root company operates four bowling alleys. the business just received the ​, ​, bank statement from city national​ bank, and
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!