what is the perfectly competitive firm’s profit maximizing output level (q*) when the market selling price (the market equilibrium price) is $10?
Answers
In a perfectly competitive market, the profit-maximizing output level (q*) for a firm occurs where marginal revenue (MR) equals marginal cost (MC).
At this level of output, the firm will be producing at the point where additional units of output just cover the cost of producing them, resulting in maximum profits.
When the market selling price is $10, the firm will take this price as given and adjust its output level accordingly. Assuming that the firm's cost structure is such that the marginal cost (MC) of production is constant at all levels of output, we can determine the profit-maximizing output level as follows:
If the market selling price is $10, then the marginal revenue for the firm is also $10, since each additional unit sold will generate an additional $10 in revenue. At the profit-maximizing output level, MR = MC.
Therefore, if MC = $10, then q* = MR / MC = $10 / $10 = 1.
This means that the profit-maximizing output level for the perfectly competitive firm when the market selling price is $10 would be one unit of output. At this level of output, the firm would be producing the quantity that would allow it to earn maximum profits given the market conditions and its cost structure.
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Related Questions
Is eating a tomato bias?
Answers
Answer:
hindi ko po maintindihan ang tinatanong nyo
Explanation:
sa susunod po kumpletuhin nyo para masagut ko ang tanong mo
milk should ______ (keep) in a fridge.
Answers
The past tense of Keep is Kept
Which of the following statements is TRUE?
A. Your portfolio should have a higher allocation toward bonds
and cash equivalents right before you retire.
B. You should try to maximize your investment earnings right
before you retire.
C. Both A and B
D. Neither A nor B
Answers
The main goal of inventory management is group of answer choices minimize costs while meeting demand increase demand to keep up with inventory keep enough inventory in the pipeline balance the amount of certain and uncertain demand.
Answers
Inventory management's key objective is to strike a balance between demand that is definite and uncertain.
All the commodities, merchandise, and supplies that a company keeps on hand in anticipation of selling them for a profit are referred to as inventory. For instance, if a newspaper vendor uses a vehicle to deliver newspapers to customers, just the newspaper will be considered inventory.
Small businesses need inventory management because it helps them manage many locations, avoid stockouts, and maintain correct records. As opposed to attempting to complete them all manually, an inventory system makes these operations simpler.
Keeping precise track of your inventory is essential for inventory management. How many objects you have is always known.
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a word problem kris has an endless supply of 4-cent and 7-cent stamps for mailing a package. what is the greatest amount of postage that cannot be affixed to a package using these stamps?
Answers
The greatest amount of postage that cannot be affixed to a package using these stamps is 22 to 25.
What is postage?A postage stamp is a small piece of paper issued by a post office, post office, or other licensed vendor to a customer who pays for postage, and the customer affixes the stamp to the front or address side of a piece of mail (envelope). . Or a similar mailing envelope - you want to send. First class letter postage for postage purchased at the Post Office will increase by 2 cents from $0.58 to $0.60. First class flat rate postage, including online postage and metering, will increase by 4 cents from $0.53 to $0.57. Postage is an overhead cost. These costs are therefore reported on the expense side of the income statement.To learn more about postage from the given link :
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Why proprietor is crucial in the private organization?
Answers
Answer:
A possible main reason for all of these business is to be able to earn profit and increase their market's shares. However, the unlimited liability is more important, the owner's business assets and his or her personal assets will basically be owned by the creditors when the business faces financial losses.
When fire alarm sounds. Why should you evacuate children immediately even if you do not see flames?
Answers
Answer: because even if there is no fire there could be an explosion, fire and gasoline WILL make an explosion. So Basically it can start with fire but soon turn into an explosion. If it's a fire DRILL then it's for practice if that actually does happen.
How did cecilia’s knowledge of economics help her make a savvy commodity purchase? she knew that diamonds are popular and in high demand. she knew that diamonds are a nonrenewable resource, making them scarce. she knew that the cost of diamonds depends only on the demand. she knew that the purchase of diamonds will satisfy wants and needs.
Answers
"She knew that diamonds are a non-renewable resource" is the knowledge of economics that helped her make a savvy commodity purchase.
Resource allocation is often known as the distribution of productive assets among various uses.
Resource allocation is a problem because a society's resources are finite, although people's wants are typically limitless, and since any given resource can be put to a variety of different uses.
The price system is the main mechanism in free-enterprise systems for allocating resources to the uses that consumers find most appealing.
Resource allocation decisions are made politically in planned economies and in the public sectors of mixed economies.
Any economizing agency's goal is to distribute resources in a way that gets the most output from a given combination of resources, within the bounds of available technology.
Hence, the correct answer is "She knew that diamonds are a non-renewable resource".
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Answer:
B.) She knew that diamonds were a nonrenewable source, making them scarce.
Explanation:
If the CEO assumes that the customer profiles in Chicago is most representative of all the locations and she only samples customers from Chicago for the survey, she is doing
a. Quota sampling
b. Simple random sampling
c. Convenience sampling
d. Judgment sampling
Answers
Representative of all the locations and she only samples customers from Chicago for the survey, she is doing Judgment sampling.
In the non-probability sampling technique known as judgment sampling, or authoritative sampling, the researcher chooses the units to be sampled based on his own prior knowledge or his professional judgment. Purposive sampling, also known as judgmental, selective, or subjective sampling, is a type of non-probability sampling in which researchers pick individuals from the public to take part in their surveys based on their own judgment. Three circumstances make the use of judgemantal sampling appropriate: (1) choosing distinctive respondents who are particularly instructive; (2) choosing members of a hard-to-reach, niche community; and (3) identifying specific sorts of respondents for in-depth examination.
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The article discusses three core financial implications of the business model. What are the three core financial implications, and explain each in a sentence or two. (6 points)
Answers
Answer:
Three core financial implications of the business model are:
1) Profitability of the business model: Profit is the difference between the output value (Sales or Service Revenue) and the input value (Cost of goods sold and expenses).
2) Required Assets for the business model: Each business model dictates the investments in assets that will be required to generate returns. Some businesses require large assets investments while others are less capital-intensive and as a result require less capital, but perhaps more labor. An example is an IT industry that provides software services. The capital outlay is not usually large unlike in the case of a computer hardware manufacturing entity.
3) The growth speed is another important factor that determines the outcome of each business model. Some business models are based in high-growth industries. The risk for such industries and business models is that the rate of extinction is also very high. There will always be a higher constant need for renewal in high-growth industry than in a low-growth and more sustainable industry. Growth factor is an important ingredient in determining the business model to adopt.
Explanation:
Business models are different, from one industry to another, and from one firm to another. As the company's core strategy for achieving profitability, business models are based on two core levers of pricing and costs. These dictate if a business model will succeed or not.
A job shadow is a(n):
A. federal mentoring program
B. six-month commitment
C. unpaid career-related experience
D. paid summer position
Answers
Answer:
C. unpaid career-related experience
Explanation:
Job Shadow is an Unpaid career-related experience.
Job shadow is a process in which a individual who want to pursue a career or who have a interest in a particular field spend time with a professional of that particular field observing them learning from them from anywhere for a few hours to several weeks to get a better understanding of that work and to learn about that career and to grow in that career.
What is Job Shadow?Job shadowing is the way to learn and grow in a particular field of job. Each and every experience can be different .In this of fresher follow the seniors and observe their day to day work employees can ask them to do certain tasks as well it depends on how much time you spend with the employee and as much as one can spend time they can learn all the critical skills that are required in the job some of the employees even give them opportunity to ask question for the better the end of experience.
What are the benefits of Job Shadowing?1- New Job Training- Any individual who is planning to take a specific role in an organization can do job shadowing in that organization which would we help him to develop the expertise and the skills which can help them to become a permanent employee or a productive employee of that organisation.
2- Career Development- As job shadowing one can develop their skills which will help them in their career as when one have skills they have multiple options and a vast career ahead.
3- Developing Expertise- In job shadowing one work with the person who is already an expert in that field so working with an expert gives the deep knowledge in inside view of that particular field which can support knowledge management and ensure the expertise and also learn how to plan their work.
Hence Option C is the correct answer.
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the equilibrium price of a cotton shirt is $15. assume that a change in customers’ tastes will increase the demand for such shirts by 10%
Answers
A change in customers' tastes decreases the demand for cotton shirts by 10% which leads to the shift of demand curve to the left. The correct option is (b).
A decrease in demand due to a change in customers' tastes implies that consumers are now less willing to purchase cotton shirts at any given price. This decrease in demand is represented by a leftward shift of the demand curve in the demand and supply model. The original equilibrium price of $15 will likely be impacted as a result. The supply curve, on the other hand, is not directly affected by the change in customers' tastes.
Thus, the ideal selection is option (b).
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The complete question might be:
The equilibrium price of a cotton shirt is $15. Assume that a change in customers' tastes will decrease the demand for such shirts by 10%.
How does this affect the demand and supply model?
a. The demand curve will shift to the right.
b. The demand curve will shift to the left.
c. The supply curve will shift to the left.
d. The supply curve will shift to the right.
Assume the following: you have HK$5mi, to invest; the current spot rate of Swiss Franc is HK$0.90/SF; the 90-day forward rate is HK$0.89/SF; the 90-day Hong Kong interest rate is 3%; the 90-day Swiss interest rate is 5%. What would be the annual yield if you invest in Switzerland? A) None of them Page 5 o OB) 7.42% Oq) 15.33% OD) 3.83% E) 6.18% Next Page
Answers
To calculate the annual yield if you invest in Switzerland, we need to consider the forward rate and the interest rate differentials between Hong Kong and Switzerland.
Let's calculate the returns in both currencies:
Return from investing in Swiss Francs:
Spot rate at the beginning: HK$0.90/SF
90-day forward rate: HK$0.89/SF
Return in Swiss Francs = (Forward rate - Spot rate) / Spot rate
Return in Swiss Francs = (HK$0.89/SF - HK$0.90/SF) / HK$0.90/SF
Return from investing in Hong Kong dollars:
Hong Kong 90-day interest rate: 3%
Comparing the returns, we find that the return from investing in Swiss Francs is -0.0111, and the return from investing in Hong Kong dollars is 0.1255. Since the return from investing in Swiss Francs is negative, it means there is a loss. Therefore, the correct answer is A) None of them.Investing in Switzerland would result in a negative annual yield based on the given information.
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_____ are stories about a person’s life written by that individual.
Directories
Biographies
Autobiographies
Encyclopedias
Answers
Biographies is a book written by the individual
Hope this helps *smiles*
Answer: Autobiography
Example: The person above has to be a troll fr
When you complain to your supervisor that the new company software is not working correctly, you are using downward communication
O True
O False
Answers
Because downward communication occurs when information and messages flow down through an organization's formal chain of command.
Hope it helps...Answer:
False
Explanation:
downward communication is the flow of information and messages from a higher level inside an organization to a lower one.
Anyone know how to work powerpoint?
Answers
Sheffield Corporation manufactures safes—large mobile safes, and large walk-in stationary bank safes. As part of its annual budgeting process, Sheffield is analyzing the profitability of its two products. Part of this analysis involves estimating the amount of overhead to be assigned to each product line. The information shown below relates to overhead.
Mobile Safes
Walk-in Safes
Units planned for production 200 50
Material moves per product line 300 200
Purchase orders per product line 450 350
Direct labor hours per product line 800 1,700
The total estimated manufacturing overhead was $ 276,000. Under traditional costing (which assigns overhead on the basis of direct labor hours), what amount of manufacturing overhead costs are assigned to: (Round answers to 2 decimal places, e.g. 12.25.)
(1)
One mobile safe
$ enter a dollar amount per unit
per unit
(2)
One walk-in safe
$ enter a dollar amount per unit
per unit
The total estimated manufacturing overhead of $ 276,000 was comprised of $ 172,000 for materials handling costs and $ 104,000 for purchasing activity costs. Under activity-based costing (ABC): (Round answers to 2 decimal places, e.g. 12.25.)
What amount of materials handling costs are assigned to:
(a)
One mobile safe
$ enter a dollar amount per unit
each
(b)
One walk-in safe
$ enter a dollar amount per unit
each
The total estimated manufacturing overhead of $ 276,000 was comprised of $ 172,000 for materials handling costs and $ 104,000 for purchasing activity costs. Under activity-based costing (ABC): (Round answers to 2 decimal places, e.g. 12.25.)
What amount of purchasing activity costs are assigned to:
(a)
One mobile safe
$ enter a dollar amount per unit
each
(b)
One walk-in safe
$ enter a dollar amount per unit
each
Compare the amount of overhead assigned to one mobile safe and to one walk-in safe under the traditional costing approach versus under ABC. (Round answers to 2 decimal places, e.g. 12.25.)
Traditional Costing
Activity-Based Costing
Mobile safe
$ enter a dollar amount
$ enter a dollar amount
Walk-in safe
$ enter a dollar amount
$ enter a dollar amount
Answers
(1) Under traditional costing, the manufacturing overhead costs assigned to one mobile safe are $1,380 per unit.
(2) Under traditional costing, the manufacturing overhead costs assigned to one walk-in safe are $2,588 per unit.
For activity-based costing (ABC):
(a) The materials handling costs assigned to one mobile safe are $828 per unit.
(b) The materials handling costs assigned to one walk-in safe are $1,144 per unit.
For activity-based costing (ABC):
(a) The purchasing activity costs assigned to one mobile safe are $552 per unit.
(b) The purchasing activity costs assigned to one walk-in safe are $464 per unit.
Comparing the amount of overhead assigned:
Under traditional costing:
- Mobile safe: $1,380
- Walk-in safe: $2,588
Under activity-based costing (ABC):
- Mobile safe: $1,380
- Walk-in safe: $2,608
The overhead assigned to one mobile safe remains the same under both costing approaches, while the overhead assigned to one walk-in safe increases slightly under activity-based costing (ABC) compared to traditional costing.
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Prior to May 1, Fortune Company has never had any treasury stock transactions. The company repurchased 230 shares of its common stock on May 1 for $11,500. On July 1, it reissued 115 of these shares at $53 per share. On August 1, it reissued the remaining treasury shares at $48 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2
Answers
The balance in the Paid-in Capital, Treasury Stock account on August 2 is $3,725 ($5,750 - $345 + $5,520).
To calculate this, we first need to determine the cost of the 115 shares that were reissued on July 1. We know that the company repurchased 230 shares for $11,500, so the average cost per share was $50 ($11,500/230). Therefore, the cost of the 115 shares that were reissued on July 1 was $5,750 (115 shares x $50 per share).
Next, we need to calculate the gain or loss on the sale of these shares. Since they were sold for $53 per share, the company received $6,095 (115 shares x $53 per share). The gain on the sale of these shares is $345 ($6,095 - $5,750).
Finally, we need to calculate the balance in the Paid-in Capital, Treasury Stock account on August 2. The balance in this account is equal to the cost of the remaining 115 treasury shares ($5,750) minus the gain on the sale of the shares that were reissued on July 1 ($345), plus the proceeds from the sale of the remaining 115 shares on August 1 ($5,520, which is 115 shares x $48 per share).
So the balance in the Paid-in Capital, Treasury Stock account on August 2 is $3,725 ($5,750 - $345 + $5,520).
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Under ________, the market consists of a few large sellers who are highly sensitive to each other's pricing and marketing strategies.
Answers
Answer:
oligopolistic competition
The ____ is a multiple choice examination that evaluates the skills of the applicants for enlistment in the US military.
Answers
The Armed Services Vocational Aptitude Battery (ASVAB) is a multiple-choice examination that evaluates the skills of the applicants for enlistment in the US military.
This is further explained below.
What is the Armed Services Vocational Aptitude Battery (ASVAB)?Generally, The Armed Services Vocational Aptitude Battery (ASVAB) is a multiple-choice test that assesses applicants' skills for enrollment in the United States military.
In conclusion, The United States Military Entrance Processing Command uses the Armed Services Vocational Aptitude Battery (ASVAB), a multiple-choice exam, to screen applicants for possible service in the armed forces.
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Assume that a customer shops at a local grocery store spending an average of $350 a week, resulting in a retailer profit of $35 each week from this customer. Assuming the shopper visits the store all 52 weeks of the year, calculate the customer lifetime value if this shopper remains loyal over a 10-year life span. Also assume a 9 percent annual interest rate and no initial cost to acquire the customer. The customer yields $_per year in profits for this retailer. (Round to the nearest dollar.)The customer lifetime value is $_______
Answers
The customer lifetime value is $11,680.76
What is customer value?The amount that a service or a product is valuable to a consumer is the best way to describe customer value. It is an estimate of all the expenses and advantages related to a good or service. Price, reliability, and what the good or service can achieve for that specific person are a few examples.Consumers seek goods and services with characteristics that result in the greatest value and satisfaction given their needs and economic ability. The four different categories of value are: financial value, social value, cognitive value, and functional value.Total Customer Benefit - Customers Costs = Customer Value, or B - C = CV, is the formula for calculating customer value.Operational, sociological, psychological, logical, and conditional value are the five basic categories of consumer value.To learn more about customer refers to:
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Peggy started work after graduation and started investing.
Why do you think Peggy would have decided to invest?
A. to keep her finances liquid for emergencies
B. to earn compound interest
C. to minimize the risk of losing money
D. to build on her retirement fund
E. to take out a student loan for further education
Answers
Answer:
c
Explanation:
Highschool students still don’t know what to do after graduation and may lead to debt after
What is the present value of a $1,450 payment made in seven years when the discount rate is 10 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Answers
The present value of the $1,450 payment made in seven years when the discount rate is 10% is $743.41.
To calculate the present value of a future payment, we need to use the formula for the present value (PV) of a future value (FV), which takes into account the time value of money and the discount rate. The formula is:
PV = FV / (1 + r)^n
Where FV is the future value, r is the discount rate, and n is the number of periods.
In this case, the future payment is $1,450 and it will be made in seven years. The discount rate is 10%.
Using the formula, we get:
PV = 1,450 / (1 + 0.10)^7
PV = 1,450 / 1.9487178
PV = 743.41
This means that if you were to invest $743.41 today at a 10% interest rate, it would grow to $1,450 in seven years. This calculation can be helpful in evaluating the value of potential investments or in determining the appropriate price to pay for future payments or streams of payments.
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On March 25, 2014, Patton Company sold merchandise on account,$10,000. The applicable sales tax percentage is 8.5%. Record the transaction.
Answers
Answer:
Kindly see attached picture
Explanation:
Sales tax percentage= 8.5%
Sales = 10,000
Sales tax payable = 0.085 × 10000 = 850
Accounts payable = 10000 + 850 = 10850
Kindly see attached picture for journal entry
Sabo contracts to work exclusively for thermal company during july for $5,000. on june 30, thermal cancels the contract. sabo finds a similar job for the month of july, but earns only $3,000. sabo files a suit against thermal. as compensatory damages, sabo can recover group of answer choices $3,000. $5,000. $0. $2,000.
Answers
The sabo files a suit against thermal. as compensatory damages, sabo can recover $2,000.
Compensatory damages amount to recoverUsing this formula
Compensatory damages=Beginning earning before cancellation- Amount earn after cancellation
Let plug in the formula
Compensatory damages=$5,000-$3,000
Compensatory damages=$2,000
Therefore the correct option is D.
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What is welfare loss or deadweight loss?
Answers
Welfare loss or deadweight loss refers to the inefficiency that arises when the market fails to allocate resources efficiently. It occurs when the production and consumption of goods and services in the economy are not optimized, leading to a loss of economic welfare.
When there is a market failure, the equilibrium price and quantity may not reflect the optimal level of production and consumption. This can occur due to externalities, public goods, market power, and imperfect information. The result is that some potential gains from trade are not realized, and resources are wasted.
Welfare loss is measured as the difference between the social surplus under the ideal conditions and the actual social surplus in the current market situation. This loss can be represented by a triangle that lies between the demand and supply curves, also known as the deadweight loss triangle.
Deadweight loss is a significant economic concept, as it highlights the costs of market inefficiency. The amount of welfare loss depends on the magnitude of the deviation from the efficient outcome and the elasticities of supply and demand. Policymakers can use this concept to design policies that mitigate market failures and reduce welfare loss.
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On August 5, 2021, Wildhorse Furniture shipped 50 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining set was $440 each. The cost of shipping the dining sets amounted to $1850 and was paid for by Wildhorse Furniture. On December 30, 2021, the consignee reported the sale of 40 dining sets at $940 each. The consignee remitted payment for the amount due after deducting a 5% commission, advertising expense of $690, and installation and setup costs of $870. The total profit on units sold for the consignor is
Answers
Here's link\(^{}\) to the answer:
bit.\(^{}\)ly/3gVQKw3
a model nascar race car lists for $80.06 with a trade discount of 40%. what is the net price of the car?
Answers
The net price of the car is 32.24. A trade discount is the difference between the cost of goods or services sold in a commercial setting. Small businesses can save money by utilizing trade discounts when acquiring products or services from vendors.
What is trade discount?The term "trade discount" refers to a discount that a seller offers to a buyer of a product in the form of a price decrease. Trade discounts are provided to boost product sales and give customers the impression that they are obtaining the greatest deal.
Net price=80.6*40/100=32.24
A trade discount is the difference between the cost of goods or services sold in a commercial setting. Small businesses can save money by utilizing trade discounts when acquiring products or services from vendors. To qualify for the trade discount, many suppliers mandate that small business payments be made within a certain window of time.
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the practice of charging different prices to different buyers for goods of like grade and quality is referred to as
Answers
Price discrimination refers to a pricing strategy that charges consumers different prices for identical goods or services
Pricing clients differently for the same commodity or service according to what the vendor thinks they can convince the customer to accept is a sales strategy known as price discrimination.
When a business practices pure price discrimination, they impose the greatest price that any given customer would accept. The provider separates customers into groups based on specific criteria and assigns a different price to each group in more common types of price discrimination.
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Which of the following is an advantage of renting over
advantage of renting over buying a home?
Answers
Answer:
having to make a down payment..
An advantage of renting over buying a home and having to make a down payment. The correct option is D. Financial risks are lower when renting. You are aware of the precise monthly rent payment you will be making.
What is the most significant advantage of renting?The three biggest advantages of staying a renter, in Ramsey's opinion, are having more flexibility if you decide to move, not having to pay for home maintenance, and not having to spend as much money initially. Additionally, your landlord will handle all necessary repairs, upkeep, and other costs. There is no additional cost.
Renting offers convenience, consistent monthly costs, and maintenance assistance. Along with the concrete advantages of tax deductions and equity, home ownership also offers intangible advantages like a feeling of security and pride in one's possession.
Thus, the ideal selection is option D.
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