A Competitive Firm Has Been Selling Its Output for $20

question 367

Multiple Choice

A competitive firm has been selling its output for $20 per unit and has been maximizing its profit, which is positive. Then, the price rises to $25, and the firm makes whatever adjustments are necessary to maximize its profit at the now-higher price. Once the firm has adjusted, its

• A)quantity of output is higher than it was previously.
• B)average total cost is higher than it was previously.
• C)marginal revenue is higher than it was previously.
• D)All of the above are correct.

Differentiate between print text and online text characteristics, including their impact on communication.

Understand the classifications of email formality and how they apply in different contexts.

Assess the impact of instant messaging and text messaging in the business communication landscape.

Grasp the process involved in planning and revising messages for clarity, impact, and effectiveness.

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Definitions:

Vertical Analysis

A technique for evaluating financial statement data that expresses each item within a financial statement as a percentage of a base amount.

Net Income

The net income of a business following the subtraction of all costs and taxes from its revenue.

Net Sales

The revenue a company earns from goods sold or services provided after returns, allowances for damaged goods, and discounts are subtracted.

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor directly involved in creating the product.