answer.
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
USPshnik [31]
1 year ago
7

Assume a monopolistically competitive firm faces the following situation: P $20, output 13,000 units, MC 16 ATC $22, AVC = $15,

and MR = $16 which statement BEST describes the firm's situation?
1. The firm would maximize its profits by decreasing its output
2. The firm is earning a normal profit, indicating that the market is in a long-run equilibrium
3. The firm would minimize its losses by increasing its output
4. The firm is minimizing its losses.
Business
1 answer:
anygoal [31]1 year ago
7 0

Answer:

4. The firm is minimizing its losses OR maximizing its Profit

Explanation:

Assume a monopolistically competitive firm faces the following situation:

P $20, output 13,000 units, MC 16 ATC $22, AVC = $15, and MR = $16 which statement BEST describes the firm's situation?

The statement that best describes the firm situation is that it is maximizing its profit or minimizing its losses because profit is maximized where Marginal cost is equal to marginal revenue, and that is the case of this firm. MC=MR at $16.

In conclusion, since the firm is maximizing profit, it needs not change anything but to keep producing at this level of output and price.

You might be interested in
Harrison Enterprises currently produces 8,000 units of part B13. Current unit costs for part B13 are as follows: Direct material
Yakvenalex [24]

Answer:

It is cheaper to make the part in house.

Explanation:

Giving the following information:

Harrison Enterprises currently produces 8,000 units of part B13.

Current unit costs for part B13 are as follows:

Direct materials $12

Direct labor 9

Factory rent 7

Administrative costs 10

General factory overhead (allocated) 7

Total $45

If Harrison decides to buy part B13, 50% of the administrative costs would be avoided.

To calculate whether it is better to make the par in-house or buy, we need to determine which costs are unavoidable.

Unavoidable costs:

Factory rent= 7

Administrative costs= 5

General factory overhead= 7

Total= 17

Now, we can calculate the unitary cost of making the product in-house:

Unitary cost= direct material + direct labor + avoidable administrative costs

Unitary cost= 7 + 5 + 5= $17

It is cheaper to make the part in house.

3 0
2 years ago
Special consideration should be paid to your tutor’s___________when selecting a tutor.
saw5 [17]

Answer: its A

Explanation:

7 0
2 years ago
Read 2 more answers
LinkedIn offers a unique type of paid advertising, where you can send targeted, customized messages to users’ LinkedIn inboxes,
AlexFokin [52]

The given ad type is called Inbox conversation and awareness .

<u>Explanation: </u>

Pay advertisements are advertisements of any kind, unlike purchased or received ads that they should pay for. To return for the use of paid advertisement, advertisers bill advertisement holders.

The premium was billed for the marketing field is often achieved by competition between advertisers and the advertising proprietor.

Messenger advertisements are a comparatively new advertising service that allows people to start a text conversation with the company by clicking a button. A variety of different types of messaging advertising: target ads, messages sponsored, home section advertisements.

5 0
2 years ago
Provide an argument of why an organization should design and implement a Benefits Plan that complements its overall corporate vi
Katyanochek1 [597]

Explanation:

A corporate benefits plan is used as a relevant tool for the company to prepare for business and organize itself more strategically in the market.

For example, an employee benefit plan can offer several additional advantages that justify the company's mission and values ​​of exercising corporate governance that prioritize the well-being of its employees. By offering advantages such as a health plan, the company consequently increases the incentive to work, motivates employees and becomes an attractive strategy for attracting good professionals in the market.

8 0
2 years ago
To survive and​ prosper, a business must gain and sustain​ ______ major competitive advantages over rival firms. A. as many as o
zloy xaker [14]

Answer:

C. <u>at least several</u>

Explanation:

Competitive advantage refers to a favorable situation or position a business enjoys over it's competitors owing to it's specialization or strength in performing a specific operation.

For example, in case of telecommunication, one company's competitive advantage could be superior network coverage with lower call drops than it's competitors.

In order to survive and grow, a business should try and gain competitive advantages in at least several fields and yet at the same time retain and maintain those competitive advantages over a period.

4 0
1 year ago
Other questions:
  • You have figured out the marginal cost and the marginal benefit of buying an extra smoothie. In 2-3 sentences, describe how you
    9·2 answers
  • Answer the following question in your own words:
    8·1 answer
  • Lisa Simpson, age 8 genius, deposits $100 today and plans to continue making additional deposits of $100 at the end of each quar
    11·1 answer
  • A sale transaction on rental property closes on December 10th. The landlord received the December rent of $4,400 on December 1.
    12·1 answer
  • When shopping for a smartphone, a consumer first compares prices to see which brand offers the lowest price. After also inspecti
    11·2 answers
  • Why would an advocate of the efficient market hypothesis believe that even if many investorsexhibit the behavioral biases discus
    9·1 answer
  • Jeremy is concerned about his selection of a new hair spray because he is concerned it will not perform as well as his usual bra
    9·1 answer
  • On January 1, Year 1, Bacco Company had a balance of $72,350 in its Delivery Equipment account. During Year 1, Bacco purchased d
    14·1 answer
  • Mr. Leghorn lives next door to Mr. Fudd. During hunting season, Mr. Fudd likes to shoot rabbits in his backyard, which activity
    7·1 answer
  • The local supermarket buys lettuce each day to ensure really fresh produce. Each morning any lettuce that is left from the previ
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!