the graph to the right depicts the per unit cost curves and demand curve facing a shirt manufacturer in a competitive industry 2.9

Answers

Answer 1

The firm will exit or leave the industry as its not making any profits.

CALCULATION OF THE PROFITS

According to the Question,

The firm produces at P = MC

Where we know,

Q = 55 units

P = $4.78

ATC or Average Total Cost = 6.76

AVC or Average Valuable Cost = 3

P > AVC so the firm produces to minimize losses at the MC = P.

Profit = ( P - ATC ) × Q

=( 4.78 - 6.76 ) × 55

= - 108.9

The profit is - 108.9 dollars per minute.

As the firm in the industry is making losses ( a negative profit ) so it  will exit the industry in the long run.

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Related Questions

Better Houses, Inc. has been contracted to build an addition on the Joyners' house. It built half of the addition and then unexpectedly announced that it was not going to finish the job. Such a desertion of work is called:

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Better Houses, Inc. has been contracted to build an addition on the Joyners' house. It built half of the addition and then unexpectedly announced that it was not going to finish the job. Such a desertion of work is called "Abandonment of contractual obligations".

What is contractual obligations?

Contractual obligations are responsibilities that each party is bound by law to fulfill under the terms of the agreement.

Each contract involves one or both parties exchanging anything of value in connection with a variety of duties, such as goods, services, money, etc.

Elements of a Contract are-

Offer: An offer was made when one of the parties pledged to carry out or refrain from carrying out a specific action in the future.Promise of consideration: A promise of something of value in return for the intended conduct or inaction. This can be demonstrated by a substantial outlay of resources, a promise to provide a service, a commitment not to do something, or reliance on the promise. The incentive for the parties to enter into the agreement is known as consideration.Acceptance: The offer was unmistakably accepted. Acceptance can be demonstrated through words, actions, or by carrying out the contract's requirements. In general, the terms of the acceptance must match those of the offer. If not, the acceptance is interpreted as a counteroffer and rejection.

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Which of the following skills or interventions is included at every level of prehospital emergency training?

Answers

Automated external defibrillator (AED) is the preliminary skill or intervention that is included at every level of prehospital emergency training.

What is Automated external defibrillator?Automated external defibrillator (AED) are portable, life-saving medical devices used to treat persons suffering from sudden cardiac arrest, a condition in which the heart stops beating abruptly and unexpectedly.When applied within the first few minutes after a person has collapsed due to sudden cardiac arrest, the combination of CPR plus early defibrillation is beneficial in saving lives.Automated external defibrillator is present in public access Airports, community centers, schools, governmental structures, hospitals, and other places open to the public all have AEDs. They are designed to be used by laypeople with little training.specialized use First responders who have received further AED training, such as emergency medical technicians (EMTs) and paramedics, use AEDs.

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I hope you are trying to ask the questions below:

Question:

Which of the following skills or interventions is included at every level or prehospital emergency training?

a.) oral glucose for hypoglycemia

b.) AED

c.) intranasal medication administration

d.) use of a manually triggered ventilator

Describe a presentation or a briefing you have conducted recently. how did you adapt it to your public? how did your auditors react? what did you get out of it?

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Recently I conducted a presentation to an audience composed mostly of teenager about the importance of team work. It took place at the American Corner of the State Library. It comprised of about 50 teenagers from various states.

How did you adapt it to your public?

Because they were teenagers, I adapted by using words that were more suited to their generation.

Also given that it was a pseudo (or semi) formal presentation, I was free to use words such as;

Do.pe - cool or awesomeGucci - Good, cool, or going well.Lit - amazing.

I also ensured that my presentation comprised of a lot of pictures, and graphics.

How did your auditors react? what did you get out of it?

The auditors were well informed about what I was doing so they welcomed it a a good idea.

The objective was to  be able to communicate to them in a way that showed that the presenter understood them.

This helped the presenter to connect as well as communicate effectively.

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You aimlessly wander the mall nearly every weekend without buying anything. When a mother with a child asks you where the nearest toy store is, you know exactly where to direct her. This is an example of _____.

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You aimlessly wander the mall nearly every weekend without buying anything. When a mother with a child asks you where the nearest toy store is, you know exactly where to direct her. This is an example of Tolman's latent learning. This is further explained below.

What is Tolman's latent learning.?

Generally, Updated in 2018 by Dr. Saul McLeod. A sort of learning known as latent is one that does not show up in the learner's behavior right away, but comes into play later on, when the right motivation and conditions are in place.

In conclusion, You spend most weekends in the mall wandering around aimlessly without purchasing anything. Because you've been around kids, you know where the closest toy shop is located. Tolman's latent learning is on display here.

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What is the underlying rationale for respondeat superior? Explain why it is a derivative theory of liability as opposed to a direct theory of liability?

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The basic argument is that it holds the employer legally accountable. It is opposed because it emerges as a result of an individual or a company's irresponsibility or other events that have damaged or destroyed another person or their property.

The basic argument for respondent superior is that it was developed to put the employer into legal accountability for the activities of the employees. This theory was established in the United States and gives an aggrieved party a stronger possibility of recovering damages caused by an employee of a certain business. This is because, under the respondent superior theory, the employer is accountable for the harm caused by an employee to a third party within the limits of his employment relationship.

The derivative theory of responsibility holds the employer liable for the negligence of his employee that causes injury to a third party. And direct theory of responsibility refers to the liability that arises over an individual or a company as a result of its carelessness or other circumstances that have hurt or destroyed another individual or their property.

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Which of the following sets of actions are unlikely to help a company achieve a differentiation-based competitive advantage over some/many of its rivals

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The sets of actions that are unlikely to help a company achieve a differentiation-based competitive advantage over some/many of its rivals is:  Actions to achieve an S/Q rating of 7-stars or higher in all four geographic regions, actions to spend above-average amounts for advertising in all four geographic regions, and actions to offer a minimum of 350 models/styles in all four geographic regions.

What is Competitive advantage?

Competitive advantage can be defined s the way a company or an organization manufacture or  produce goods that are less costly and of good quality than their competitors or rivals.

Hence, The sets of actions that are unlikely to help a company achieve a differentiation-based competitive advantage over some/many of its rivals is:  Actions to achieve an S/Q rating of 7-stars or higher in all four geographic regions, actions to spend above-average amounts for advertising in all four geographic regions, and actions to offer a minimum of 350 models/styles in all four geographic regions.

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The final step in all three methods (direct, sequential, and reciprocal services) of allocating $600,000 in support department costs to production departments is to:________

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In support department costs to production departments is to apply production department costs to products. The term "Department Expenses" refers to costs associated with the Department carrying out and administering its powers, duties, and functions in relation to Mortgage Loans.

This includes, but is not limited to, salaries, supplies, utilities, labor,  and furnishings. Cost allocation from support departments to producing department is necessary to apply the support expenses, which are portion of the overall product costs, to the products. Calculate the producing departments' predetermined overhead rates. Production something is the act of creating something out of components or raw resources.

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Phlex Plastic has a very strong set of corporate values. In fact, Phlex has been known to discourage the emergence of alternative values. Phlex is most likely:

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Phlex Plastic has a very strong set of corporate values. In fact, Phlex has been known to discourage the emergence of alternative values. Phlex is most likely to show Monoculturalism.

What is Monoculturalism?Monoculturalism is the practice of encouraging, promoting, or facilitating the manifestation of a single social or ethnic group's culture.It usually results from dominant group members believing that their cultural practices are superior to those of minority groups and is related to the idea of ethnocentrism, which entails evaluating another culture using the norms and standards of one's own culture.It might also entail the assimilation process, in which other ethnic groups are required to accept the traditions and culture of the dominant ethnic group.Sometimes, monoculturalism takes the form of actively preserving a nation's native culture by excluding outside influences, as opposed to the oppression of many ethnic groups within a given civilization. Examples of this type of monoculturalism include Japan, South Korea, and North Korea. However, less deliberate variables like geographic isolation, historical ethnic homogeneity, or political isolation might also be to blame. Due to their residents' shared ancestry, culture, and low immigration rates, some European nations, such as Italy, Portugal, Poland, and the Northern European countries, are still essentially monocultural.

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What is the posting reference that will be found in the cash account?

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In accounting, to “post” a transaction means to record it in the journal and/or the account ledgers. A post reference is a code that can guide anyone looking at a specific account ledger (such as accounts payable or accounts receivable) to the corresponding entry in the journal, or vice versa.

A journal entry is the act of recording any transaction, whether one that is economic or not. An accounting diary that displays the debit and credit balances of a corporation lists transactions. Multiple recordings, each of which is either a debit or a credit, may be included in the journal entry.

In your company's books, a journal entry serves as a record of a business transaction. Every transaction requires at least two journal entries in double-entry bookkeeping. A bookkeeper keeps track of all the changes that a transaction can bring about in a business by recording them in their journal.

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A(n) is a legal prohibition of creditors' either initiating or continuing any debt collection action against the debtor or her property.

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An automatic stay is the legal prohibition of creditors' either initiating or continuing any debt collection action against the debtor or her property.

What is an automatic stay?

This is known as an immediate automatic stay that is used when filing for bankruptcy protects a debtor.

In the United states, this is a provision that temporarily prevents the creditors, collection agencies, government entities etc from pursuing debtors for money that they owe.

Hence, it is the legal prohibition of creditors' either initiating or continuing any debt collection action against the debtor or her property.

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Stephen Chemical produces chemicals that are sold to consumer product manufacturerers, such as Procter and Gamble, as raw materials in the manufacturing processes to create shampoos and detergents. Stephan's chemicals are known as ______________ products.

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Stephen Chemical produces chemicals that are sold to consumer product manufacturers, such as Procter and Gamble, as raw materials in the manufacturing processes to create shampoos and detergents. Stephan's chemicals are known as Business products.

What are Business Products?Business products are goods and services that businesses buy to run their operations or to manufacture their own goods. Business products are categorized differently than consumer goods because they are used rather than based on consumer purchasing patterns.Business products, in other words, are the things and services that people wish to purchase in order to outfit their homes, operate their own enterprises, sate their needs for supplies in their churches, schools, stadiums, and factories, as well as to generally keep the world moving ahead.The provision of raw materials, which are directly extracted from the environment, marks the start of the manufacturing process.Raw materials, machinery, accessories, supplies, and commercial services are a few examples of business products. Companies utilize business software to assist essential company operations.

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If government spending occurs, there will be a(n) _______ of private-sector investors, described as a(n) _______ of that spending

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If government spending occurs, there will be a(n)crowding out of private-sector investors, described as a(n) opportunity cost of that spending.

What is government spending?

This is the term that is used to refer to all forms of expenditures that the government of a place may embark on.

Spending is an expansionary policy that helps to stimulate the government of a place.

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Joshua is a new project manager. He is unsure of how much time a new task will require to be completed on the project. He decides to use ________ to estimate a realistic time frame for the task.

Answers

Answer: PERT

Explanation:

If sellers expect the price of their product to rise in the future, they are likely to _____ in the near term. increase their demand restrict their demand increase their supply restrict their supply

Answers

If sellers expect the price of their product to rise in the future, they are likely to lower the price in the near term. increase their demand restrict their demand increase their supply restrict their supply.

A seller is a person or entity that sells products, services, or financial assets. Shorting means borrowing a security you don't own, selling it, and buying it back at a lower price. The option seller is known as the "writer" who collects a premium from the buyer.

Buyers or sellers being "balanced" refers to the imbalance of orders in the market at any given time. The term also describes a trader whose activity over a period of time tends to be predominantly in the direction of buying or selling, with a tendency to balance the two.

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The manipulation check is advantageous if ________. the results obtained are nonsignificant single-blind procedures are used double-blind procedures are used the demand characteristics are minimal

Answers

Answer: advantageous

Explanation:

Signing and dating a delivery receipt for a life insurance policy helps to establish all of the following timeframes EXCEPT

Answers

Signing and dating a delivery receipt for a life insurance policy helps to establish all of the following timeframes EXCEPT the grace period.

What is insurance?

This refers to a process whereby a company(insurance company) provides an assurance of compensation to another(insured) incase of loss or illness in return for payment called premium.

Some of the benefits of insurance are:

Mitigation of riskProvision of insurance service by the insurance companyProtection from unexpected loss

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Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2024. Power Drive has the following transactions affecting stockholders' equity in 2024.
March 1 Issues 63,000 additional shares of $1 par value common stock for $60 per share.
May 10 Purchases 5,800 shares of treasury stock for $63 per share.
June 1 Declares a cash dividend of $1.90 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.)
July 1 Pays the cash dividend declared on June 1.
October 21 Resells 2,900 shares of treasury stock purchased on May 10 for $68 per share.
Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Common Stock, $100,000; Additional Paid-in Capital, $5,300,000; and Retained Earnings, $2,800,000. Net income for the year ended December 31, 2024, is $680,000.
Required:
Prepare the stockholders' equity section of the balance sheet for Power Drive Corporation as of December 31, 2024.

Answers

The preparation of the stockholders' equity section of the balance sheet for Power Drive Corporation as of December 31, 2024, is as follows:

Power Drive Corporation

Stockholders' Equity Section

As of December 31, 2024

Common Stock, 163,000 shares at $1 par value  $163,000

Treasury Stock, 2,900 shares at $1 par value          (2,900)

Additional Paid-in Capital                                      8,851,700

Retained Earnings                                                 3,081,400

Total equity                                                       $12,093,200

Data and Calculations:

Beginning balances in stockholders' equity accounts on January 1, 2024:

Common Stock, $100,000

Additional Paid-in Capital, $5,300,000

Retained Earnings, $2,800,000

Net income for the year ended December 31, 2024, = $680,000

Transaction Analysis:

March 1 Cash $3,780,000 Common Stock $63,000 Additional Paid-in Capital $3,717,000

May 10 Treasury Stock $5,800 Additional Paid-in Capital $359,600 Cash $365,400

June 1 Cash dividend $398,600 ($1.90 x 157,200) Dividends Payable $398,600

July 1 Dividends Payable $398,600 Cash $398,600

October 21 Cash $197,200 Treasury Stock $2,900 Additional Paid-in Capital $194,300

Summary Accounts

Retained Earnings Statement:

Beginning balance $2,800,000

Net income                  680,000

Dividends                    (398,600)

Ending balance       $3,081,400

Common Stock:

Beginning balance    $100,000

March 1 Cash                 63,000

Ending balance         $163,000

Additional Paid-in Capital,

Beginning balance  $5,300,000

March 1 Cash               3,717,000

May 10 Cash                (359,600)

Oct. 21  Cash                 194,300

Ending balance       $8,851,700

Treasury Stock:

May 10 Cash                $5,800

Oct. 21  Cash                (2,900)

Ending balance          $2,900

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Sam buys a franchise from Taco Mission Inc. This relationship, like all other franchise relationships, is governed by

Answers

Answer:

A franchise is a contract between the two individuals or entities to use the tradename

Explanation:

Monopolies, oligopolies, and monopolistic competitive industries all . Question 9 options: Earn positive profits in the long run. Are completely unconstrained in their pricing. Raise price and quantity over what would occur in perfect competition in order to maximize their profits. Have market power.

Answers

Market power exists in oligopolies, monopolistic competitive industries, and monopolies.

Market or monopoly power is the capacity of a firm (or collection of firms) to increase and maintain prices above the level that would prevail under competition. When market power is used, output is decreased and economic welfare is lost.

Describe monopolies.

A scenario known as monopoly occurs when there is only one seller in the market. The monopoly case is viewed as the polar opposite of perfect competition in conventional economic analysis. The industry's downward-sloping demand curve is, by definition, the demand curve that the monopolist faces.

what is an oligopoly?

A small number of providers control oligopoly marketplaces, which are dominated by them. All nations and a wide range of industries contain them. Other oligopoly markets are substantially less competitive, though they may at first appear to be so in some cases.

What exactly is monopolistic competition in an industry?

In a market where numerous businesses provide goods or services that are comparable (but not exact substitutes), monopolistic competition is the norm. In a monopolistic competitive industry with low entry and exit barriers, no firm's decisions directly affect those of its rivals.

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Using money as a medium of exchange is more efficient than barter because?

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Explanation:

People are less likely to be cheated since the the object and money are often the same value, but with barter trade,an apple which may cost 5 dollars may be traded for a bag of rice which may cost 30 dollars

A good economist will ignore ________ and focus on ________ when it comes to making the right decisions.

Answers

A good economist will ignore sunk costs and focus on marginal value when it comes to making right decisions. In economics and finance, a sunk cost is a cost that has already been incurred and cannot be recovered.

Sunk costs are treated as by gone costs in economic decision making and are not considered when deciding whether to continue investment project. The value of the final unit of consumption is known as the marginal value to a consumer. Value of the good to the consumer who purchased the good but received the lowest value from consumption is represented by an industry demand curve.

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Roger wants to make a deposit into his savings account. He is depositing 2 checks, one for $125.62 and the other for $532.50. He would like to receive $40.00 in cash after the deposit. Calculate the amount that he will be depositing into his savings account.

Answers

the amount that Roger will be deposited into his savings account is $618.12

A savings account is a retail bank account. Common features include limited withdrawals, lack of debit card functionality linked to checks, limited transfer options, and non-withdrawal. Traditionally, most savings account transactions were recorded in a passbook, sometimes referred to as a passbook savings account, and no account statement was provided. However, these transactions are now usually recorded electronically and accessible online.

People put money into their savings accounts for a variety of reasons, including where cash can be safely stored. Savings accounts also usually pay interest. Almost all of them generate compound interest over time. In some countries, deposit insurance needs to protect your savings account, and in some countries, it provides government guarantees for at least a portion of your account balance.

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When marketing to consumers in the global population, it's important to remember that promoting products:

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When marketing to consumers in the global population, it's important to remember that promoting products calls for attention to cultural differences and possible translation problems.

What is marketing?

Marketing is when firms or business promote their products by attracting potential buyers. It includes market research and advertising.

Marketing refers to those action undertaken by firm for promoting purpose to facilitate more sales of its products or services.

The process of marketing includes creating, communicating, delivering and exchanging offerings that have value for customers hence main objective is to generate revenue for the company.

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What are the main advantages of the d-step tuning of 2023 murano’s xtronic cvt?.

Answers

The xtronic CVT of the 2023 Murano's key benefits of d-step tuning is that

It allows the gearbox to shift gears fast in response to sudden acceleration.

The use of linear acceleration sense aids in stepped acceleration while at greater rpm.

What type of transmission does Murano Xtronic CVT have?

It is claimed to include a continuously variable automatic gearbox (CVT), and its single engine is a 3.5-liter V-6 that contributes to the production of a significant amount of power. The primary benefits of the 2023 Murano's xtronic cvt's d-step tuning are as follows. It allows the gearbox to shift gears fast in response to sudden acceleration.

The use of linear acceleration sense aids in stepped acceleration while at greater rpm.

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Which research method allows in-depth feedback and firsthand interaction, but only measures how easy it is to use a product

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The research method allows for in-depth feedback and first-hand interaction, but only measures how easy it is to use a product, is the usability study.

What is the Usability Study?

Corresponds to a research practice used by companies to test the use of a product before its official launch, making it available to a small number of users to test its features, benefits and improvement needs.

Therefore, the usability study helps a company to achieve its real goals, improving some features and improving it until its market launch.

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Your company emphasizes the important of conserving (not wasting) resources. How can you support that value when you print an 8-page report you were asked to bring to your department's monthly meeting

Answers

You can support that value by using the print option for two-sided printing.

What do you mean by resource preservation?

Resource conservation refers to the preservation and sometimes even improvement of those resources that sustainability depends on. An ecological resource that is readily depleted without proper management is soil organic matter.

Agriculture and forestry both face major and expanding resource conservation and environmental concerns, such as nonpoint water pollution and biodiversity protection. Consequently, it is instructive to review the history of voluntary approaches, particularly given that their reach seems to be increasing. Studies of the planning and execution of voluntary activities in various sectors might provide three main takeaways.

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As a function of financial management, financial managers must understand tax regulations because ______. (select all that a

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The function of financial management and its financial managers must understand tax regulations because:

- businesses want to minimize taxes

- they must consider the tax implications of major decisions

What is tax regulation?

Tax regulation means laws, guidelines or prospective tax laws with tax impact or revenue reduction impact on the firm financials.

The financial managers need to understand taxes as well its different types because they are also saddled with the responsibility of keeping taxes as minimum as possible in order to maximize the profit or the bottom-line of the company

Also, they need to consider the tax impact of major financing, investing or dividend decisions so as to ensure the performance of the keeping by a way of increasing shareholders' value is not sacrificed.

In essence, the finance managers must keep an eye on tax laws because the taxes must be keep at the minimum and also there is a need to consider taxes on major company's future decisions

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When people have formed _____, each is an agent of the group so that the members of the joint enterprise share liability

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When people have formed partnership, each is an agent of the group so that members of the joint enterprise share liability. A formal agreement between two or more parties to run a business and split  profits is called a partnership. A partnership may have tax advantages over a corporation.

Partnership arrangements come in many different forms. One type of business where partners may have minimal liability is a partnership where all members share profits and liabilities equally. All partners in a general partnership corporation split the company's assets and debts equally. Lawyers and other professionals frequently create limited liability partnerships.

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What did the president mean when he said he had to face ""very difficult choices"" when creating a federal budget?

Answers

The president means deciding what would be funded and what would be cut.

The goal is to have a balanced federal budget. the government spends a sum of money the same as that which is accrued in revenue. The authorities can increase revenue thru expanded taxing, borrowing money, or growing cash. All 3 selections have poor results, creating money can lead to inflation.

These financial policies fall into growing government spending and cutting taxes. If the government increases spending/shopping for it increases outputs and creates jobs(increases combination demand), causing prices to rise.

Government spending increases aggregate demand which causes costs to rise. In step with the regulation of delivery, higher charges encourage extra production. To do this, extra jobs are created. An increase in demand results in decreased unemployment and expanded output.

Your question is incomplete. Please read below to find the missingg content.

"Meeting the spending targets in this budget meant some very difficult choices."

President Barack Obama,

2012 Budget Message of the President

Read the passage.

What did the president mean when he said he had to face "very difficult choices" when creating a federal budget?

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Total revenue minus the total _____ and total _____ costs of production is economic profit.

Answers

Total revenue minus the total implicit and total explicit costs of production is economic profit.

What are the key features of Accounting & Economic profits?

Production is the process of fusing inputs to create outputs, which should ideally be worth more than the inputs.

Revenue, which is calculated as price times quantity sold, is the income from selling a company's goods.

The total revenues less all explicit costs, including depreciation, is the accounting profit.

Total revenues less total costs, including both explicit and implicit costs, equals economic profit.

The main difference between Explicit & Implicit?

Explicit costs are expenses incurred directly by a company, such as payments for goods, rent, labour and salaries.

Implicit costs are a special kind of opportunity cost: they represent the cost of the company's existing resources that could have been used in another way.

An entrepreneur who runs a firm, for instance, could use her labor to pay the bills at a job.

Hence, the answer is explicit and implicit.

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