Custodial maintenance is one of the types of property maintenance that comprises the routine cleaning and maintenance needed to keep a property's value and renters.
What are some examples of classification?You can categorize a set of objects based on a characteristic they share, such as berries or geometric forms. You could group apples into one category, bananas into the other, and on and on. Similar to this, triangles, polyhedral, and other geometric patterns can be categorized.
What are types and classification?As per similarities and differences, recognized species are divided into several groupings or taxa, which is the definition of classification. Phylogenetic classification, Spontaneous classification, and Manufactured classification are the three categories of categorization.
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George washington has been extolled as a great president because of his ability to.
George Washington has been extolled as a great president because of his ability to define the presidency and the nation.
George Washington will always be remembered in history as he was the first president of America.
George Washington formed constitutions that benefitted the citizens of the country and also stood with the nation during crucial times. He is remembered to be the best president in the history of the United States.
He was able to define the presidency as well as the nation in a delicate manner. His leadership defined how the president of a country should define the nation.
Although a part of your question is missing, you might be referring to this question:
Fill In the Blank
George Washington has been extolled as a great president because of his ability to .................
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a profit-maximizing firm will continue to expand output group of answer choices as long as the revenues from the production and sale of an additional unit exceeds the average costs of the unit. until the average cost of producing the good or service is at a minimum. as long as the revenues from the production and sale of an additional unit exceeds the marginal cost of the unit. until the marginal cost of producing a good or service is at a minimum.
A profit-maximizing firm will continue to expand output it adding more to revenue than it adds to cost.
A profit-maximizing firm comes to a decision to shut down in the quick run whilst the rate is much less than an average variable fee. Ultimately, a company will go out of the marketplace when the price is much less than the common total cost.
A company maximizes earnings with the aid of running where marginal revenue equals marginal value. this is stipulated beneath the neoclassical concept, wherein a firm maximizes profit that allows you to decide a stage of output and inputs, which offers the price equals marginal price condition.
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which of these would be an example of a ddos attack?an extortion attempt where hackers threaten to reveal names and social security information stolen from medical records databasesoverloading a popular social networking site with inbound messages in order to shut down access to the sitelaunching a targeted phishing campaign on a department of defense or other surveillance networkstealing proprietary data directly from mobile phones using a distributed network of difficult-to-trace online serviceslaunching tough-to-track click-fraud efforts
The example of DDos attack is b. Overloading a popular social networking site with inbound messages in order to shut down access to the site. DDos attack will make disrupting services of a host connected to network,
A denial-of-service attack or known as DDos In computing generally can be defined as a cyber-attack in which the perpetrator seeks to make a network resource or also machine unavailable to its intended users by temporarily or indefinitely disrupting services of a host connected to a network. The common example of DDos or also denial-of-service attack attack is UDP flooding, SYN flooding and DNS amplification.
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a bond portfolio is immunized from interest rate risk if the modified duration of the portfolio is always equal to the desired investment horizon.
It is true that a bond portfolio is immunized from the interest rate risk if modified duration of portfolio is always equal to desired investment horizon.
What is investment horizon?Investment horizon is the word used to define the overall period of time that an investor anticipates holding a security or portfolio. The length of an investment horizon might vary from being only a few days to being possibly decades long. A young professional, for instance, would have a long-term investing perspective if they had a 401(k) plan. The treasury department of a company, on the other hand, may have a much shorter investment horizon. In the event of a fall, the market has years to rebound, so investors who have a longer investing horizon can accept more risk. A 30-year-old investor, for instance, would normally devote the majority of their assets to stocks.
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a company budgets the following direct materials purchases: april: $70,000; may $90,000; june: $60,000. all purchases are on account and the company pays 25% of purchases in the month of the purchase and the remaining amount in the following month. cash payments for june for direct materials is $
The cash disbursement for June is $77,500.
What is cash disbursementA cash disbursement is a cash payment made. In the payments industry, the term usually refers to an ATM withdrawal or a cash back transaction. These transactions are typically only possible with debit cards rather than credit cards, and they are frequently subject to different rules than regular purchases.Here,
The cash disbursement computation for the month of June is shown below:
cash disbursement = June purchase month percentage + May purchase subsequent month percentage + April purchase second subsequent month percentage
= $60,000 × 25% +$ 90,000 × 50% + $70,000 × 25%
= $15,000 + $45,000 + $17,500
= $77,500
The remainder of the percentage would be
= 100% - 25% - 50%
= 25%
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which of the following occurs when a company provides financial support for an event such as the olympics or a concert? a. third-party endorsement b. sponsorship c. celebrity endorsement d. source credibility e. two-sided message
Sponsorship occurs when a company provides financial support for an event such as the Olympics or a concert.
What do you mean by sponsorship?The function or duty of a person or organization that promotes, aids, advises, or contributes to the funding of another person, a group, or a project: The money from your sponsorship will be used to pay the child's tuition and make sure they eat three meals a day.
How are sponsorships carried out?When a business donates money or resources to a good cause in exchange for prearranged marketing benefits, it is engaging in sponsorship. In exchange for supporting the organization, the business gains exposure by having their name and logo featured on objects like banners. T-shirts and other clothing.
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chapter eight group homework problem naomi company manufactures one product. on december 31, 2018, naomi adopted the dollar-value lifo inventory method. the inventory on that date using the dollar-value lifo inventory method was $900,000. inventory data are as follows:
Inventory at the end of 2020 at dollar-value LIFO cost is $1,675,000. It can be calculated by divided year end cost with cost index.
Inventory costing means the process of assigning price to inventory, and then to the price of items sold. There are several types of inventory, such as raw materials and components, repair and operating supplies, work in progress, finished goods and maintenance.
The calculation:
2020 cost = year end cost ÷ cost index
2020 cost = $1,900,000 : 1.25
2020 cost = $1,520,000
Inventory at end of 2018 = $1,520,000 - $900,000 = $620,000
End of 2020 at dollar value inventory cost
= $620,000 x 1.25 + $900,000
= $1,675,000
The complete question is shown below:
Naomi company manufactures one product. on december 31, 2018, naomi adopted the dollar-value lifo inventory method. the inventory on that date using the dollar-value lifo inventory method was $900,000. inventory data are as follows:
Year Inventory at year-end prices Price index (base year 2018)
2018 $1,260,000 1.05
2019 1,840,000 1.15
2020 1,900,000 1.25
Inventory at the end of 2021 at dollar-value LIFO cost is:
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Tom would like to take out a secured loan to help pay for a vacation this summer. he has offered his car as collateral. his car is worth $3,500. his bank can offer loans for 80% of collateral value. the vacation he has planned will cost $4,750. approximately how much additional collateral will tom need to offer in order to borrow enough to go on his vacation as planned? a. $1,000.00 b. $1,362.50 c. $2,437.50 d. $2,800.00
$2,437.5 additional collateral tom will need to offer in order to borrow enough to go on his vacation as planned.
Given: Tom would like to take out a secured loan to help pay for a vacation this summer. He has offered his car as collateral. His car is worth $3,500. His bank can offer loans for 80% of collateral value. The vacation he has planned will cost $4,750.
To Find: Approximately how much additional collateral will Tom need to offer in order to borrow enough to go on his vacation as planned
a. $1,000.00 b. $1,362.50 c. $2,437.50 d. $2,800.00
Solution:
car is worth $3,500.
additional collateral Tom need = P
Total collateral value. = P + 3500
His bank can offer loans for 80% of collateral value.
=> loan = (80/100) (P + 3500)
=> loan = 0.8P + 2800
Loan required = 4,750.
0.8P + 2800 = 4,750.
=> 0.8P = 1950
=> P = 2,437.5
$2,437.5 additional collateral Tom need to offer in order to borrow enough to go on his vacation as planned
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which criteria for market segmentation would be easiest to use for an online retailer? customer height student or nonstudent status account address income
From the point of view of an online retail business owner the optimal criteria for market segmentation will be income of that customer to be considered. Hence Option of Income would be correct.
Who is online retailer?In e-retail, a company or a person uses internet stores to sell retail goods and services. Electronic retailer or online retailer is referred to a business entity where it operates & executes commercial business transaction via use virtual electronic platform.
This help to develop market from one location to other remote locations without setting up any physical structure between customer and seller through e-commerce.
Often referred to as e-tail, internet retail, or online retail business.
In market segmentation done by an online retailer refer to continuous practice of breaking up a large population into smaller groups based on various factors such as consumer's income, choice, purchasing criteria, habits, geographic traits, demographics (age, gender, etc.), or a combination of of the same.
Thus for an online retailer can segment its market through income among given options.
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sydney retailing (buyer) and troy wholesalers (seller) enter into the following transactions. may 11 sydney accepts delivery of $27,500 of merchandise it purchases for resale from troy: invoice dated may 11, terms 3/10, n/90, fob shipping point. the goods cost troy $18,425. sydney pays $495 cash to express shipping for delivery charges on the merchandise. may 12 sydney returns $1,200 of the $27,500 of goods to troy, who receives them the same day and restores them to its inventory. the returned goods had cost troy $804. may 20 sydney pays troy for the amount owed. troy receives the cash immediately.
A) Journal entry for Sydney retailing (buyer)
i)To record purchase of inventory on account
Date Account titles Debit Credit
May 11 Accounts Payable $27,500
Merchandise Inventory $27,500
ii)To record shipping expense paid
Date Account titles Debit Credit
May 11 Merchandise Inventory $ 495
Cash $ 495
iii) To record goods returned to seller
Date Account titles Debit Credit
May 12 Accounts Payable $1,200
Merchandise Inventory $1,200
iv To record payment on account.
Date Account titles Debit Credit
May 20 Accounts Payable $26300
Merchandise Inventory $789
Cash $25511
B) Journal entry for Troy - Seller
ii)To record sales of goods on account
Date Account titles Debit Credit
May 11 Accounts receivable $27,500
Sales Revenue $27,500
ii) To record cost of goods sold
Date Account titles Debit Credit
May 11 Cost of goods sold $18,425
Merchandise Inventory $18,425
III) To record sales return
Date Account titles Debit Credit
May 12 Sales returns and allowance $1,200
Account receivable $1,200
iv) To record cost of goods sold reversed for sales return
Date Account titles Debit Credit
May 12 Merchandise Inventory $804
Cost of goods sold $804
v) To record cash received for goods sold.
Date Account titles Debit Credit
May 20 Cash $26300
Sales discount $789
Account receivables $25511
What is retailing?Retailing is a distribution process that includes all the activities involved in selling a product directly to the final consumer (ie the person who intends to use the product). It includes the sale of goods and services from the point of purchase to the end user who intends to use the product.
Any trader who sells goods to an end user for non-commercial use or resale, whether as a manufacturer, wholesaler or retailer, is said to be involved in the retail process, regardless of how the goods are sold.
Retailer means any organization that derives the majority of its turnover from the retail trade. In the supply chain, retailers are the last link between the manufacturer and the consumer.
Therefore,
1. Accounts payable= Purchases− Purchase return
=$27500−$1,200
=$26300
Discount=Accounts payable X 3%
=$26300×0.03
=$789
2. Hence,
Accounts receivables= sales− sales return
=$27500−$1,200
=$26300
Discount=receivables X 3%26300
=$26300×0.03
=$789
The complete question is
sydney retailing (buyer) and troy wholesalers (seller) enter into the following transactions. may 11 sydney accepts delivery of $27,500 of merchandise it purchases for resale from troy: invoice dated may 11, terms 3/10, n/90, fob shipping point. the goods cost troy $18,425. sydney pays $495 cash to express shipping for delivery charges on the merchandise. may 12 sydney returns $1,200 of the $27,500 of goods to troy, who receives them the same day and restores them to its inventory. the returned goods had cost troy $804. may 20 sydney pays troy for the amount owed. troy receives the cash immediately.1. Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. 2. Prepare journal entries that Troy Wholesalers (seller) records for these three transactions.
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All of the following are examples of indirect costs that can be classified as being variable costs except: Utilities. Material handling costs. Production supervisor salaries. Transportation costs.
All the are indirect costs that can be classified as variable costs except production supervisor salaries
Costs associated with an activity or product that cannot be immediately linked to them are known as indirect costs. They are utilized or shared in several activities. Examples include administrative costs, marketing costs, phone costs, rent costs, office costs, etc. Businesses employ indirect costs across the board, not only in relation to a single product.
In a factory, the expense of supervisors' wages is typically categorized as a fixed cost because it is not based on the level of production for a specific time period. In most cases, regardless of the level of productivity, the salaries are set for a particular month or year. Since it is a factory expense, it counts as a manufacturing overhead cost and is included in conversion costs along with direct labor.
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if the government auctions pollution permits, then firms with the highest marginal cost of pollution abatement will multiple choice question.
If the government auctions off pollution permits, then generally speaking firms with the highest marginal cost of pollution abatement will purchase the most permits
The difference in total production costs caused by creating or producing one extra unit is known as the marginal cost. Divide the variation in production costs by the variation in quantity to determine marginal cost.
Manufacturers frequently use the economics and managerial accounting concept of marginal cost to determine the ideal production level. Manufacturers frequently consider the cost of increasing their production volumes by one unit.
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Which pricing approach for a restaurant would have the greatest risk of adverse selection due to buyers having private information?.
Due to the buyers' sensitive personal information, the all-you-can-eat buffet in a restaurant with a set price would be the largest danger to the pricing strategy.
The right pricing strategy is essential if you want to stay competitive in markets where volume and price pressure are increasing. It guarantees that you receive the payment you are entitled to for the goods and services you provide as well as the revenues you need to invest in growth and transformation.
Four pricing strategies competitive pricing, cost-plus pricing, markup pricing, and demand pricing are often used by small business owners.
The good-better-best price structure, often known as a tiered pricing strategy, can be used by a business to increase sales. A company is successful when it offers three unique product or service packages.
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The total income generated from freelancing is higher than that of what three industries?.
For nearly $1 trillion, or almost 5% of the U.S. GDP, freelance income contributes more to the economy than industries such as construction and transportation and is on par with the information sector.
What is freelance?Freelance or freelance refers to a type of self-employment. Instead of being employed by a company, freelancers tend to work as self-employed, delivering their services on a contract or project basis.
Companies of all types and sizes can hire freelancers to complete a project or a task, but freelancers are responsible for paying their taxes, health insurance, pension and other personal contributions.
Since freelancers work for themselves, they must also cover their holiday costs and sick pay.
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the following data are given for bahia company: budgeted production (at 100% of normal capacity) 1,091 units actual production 938 units materials: standard price per pound $1.83 standard pounds per completed unit 11 actual pounds purchased and used in production 10,008 actual price paid for materials $20,516 labor: standard hourly labor rate $14.76 per hour standard hours allowed per completed unit 4.4 actual labor hours worked 4,830.7 actual total labor costs $73,668 overhead: actual and budgeted fixed overhead $1,109,000 standard variable overhead rate $28.00 per standard labor hour actual variable overhead costs $135,260 overhead is applied on standard labor hours. round your final answer to the nearest dollar. the fixed factory overhead volume variance is a.$155,523 unfavorable b.$155,523 favorable c.$19,698 unfavorable d.$19,698 favorable
The Fixed overhead volume variance equals to $155,523 unfavorable. The Option A is correct.
What does fixed overhead volume variance mean?In cost accounting, the fixed overhead volume variance means the difference between the budgeted and actual production volume multiplied by the standard fixed production overhead rate per unit.
The Overhead absorption rate:
= Budgeted Fixed overhead/Budgeted units
= $1,109,000/1,091
= $1,016.50
Particulars Units
Budgeted production 1,091 unit
Actual production 938 units
Volume variance 153 units
Fixed overhead volume variance:
= Overhead absorption rate * Volume variance
= $1,016.50 * 153 units
= $155,524.50 (unfavorable)
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a fast-food business modifies its menu substantially in the different countries where it opens restaurants, as well as accommodating different expectations regarding customer service. this company probably uses a strategy.
This company probably uses a multidomestic strategy for its business.
What is multidomestic strategy?It is a marketing approach where a company focuses on customizing advertising and commercial efforts to local markets.
Based from the information given, this fast food business modifies its approach in the different countries where it opens new restaurants, as well as accomodating different expectations regarding customer service. As we can see, the business already launched new product lines to meet customer needs. Also, they already adjusted its marketing strategy as well to be accepted by customers from different countries. The business focuses on customizing its advertising to local markets so the business will be welcomed by its new customer from different countries.
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under what conditions must a distinction be made between money to be received today and money to be received in the future?
The conditions must a distinction be made between money to be received today and money to be received in the future is when idle money can earn a positive return.
You may use the time value of money (TVM) as a tool to better comprehend the value of money in relation to time. It is a formula that is frequently used by investors to help them comprehend the current worth of money in relation to its potential future value.
The TVM principle states that cash obtained now will always be more than cash received tomorrow. Because of this, money obtained will only be worthwhile in the long term if there is a probability that it will earn interest. The opportunity costs related to idle cash serve as the foundation for this idea.
The above question is incomplete, the complete question is:
Under what conditions must a distinction be made between money to be received today and money to be received in the future? Select one:
A) When current interest rates are different from expected future rates.
B) A period of recession.
C) When there is no risk of nonpayment in the future.
D) When idle money can earn a positive return.
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What are 3 advantages of entrepreneurship?.
Three things that can be identified as the advantages of entrepreneurship, include,
Flexibility in workingGreater rewards for risksHigher chances of incomeEntrepreneurship can be referred to or considered as a practice wherein an individual takes risk for obtaining equally exponential returns in relation to the risks being managed. The goal of entrepreneurship is to make better life and income opportunity for an individual. The examples of ideal ways to practice entrepreneurship have been aforementioned.
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an advertisement that informs people what a company is, what it can do, and where it is located is referred to as a(n)
An advertisement that informs people what a company is, what it can do, and where it is located is referred to as a(n) Pioneering Ads.
Pioneering advertising refers back to the launch marketing campaign of a brand new product category, in place of the marketing of a unmarried product inside a evolved marketplace. The purpose of pioneering advertising is to inform consumers of the arrival of a completely new concept and provide an explanation for its benefits.
Pioneer advertising and marketing is the call given to the advertising and marketing campaign to launch a state-of-the-art product category. The motive of pioneer advertising and marketing is to inform clients what the product is, where it could be located, and how they could benefit from it
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according to mill, the capital intensiveness of a business could serve as a barrier to entry. true false
It is accurate to say that Mill hypothesized that a business' high capital requirements would act as a barrier to entrance.
What is the biggest challenge to breaking into the field?The following are a few instances of typical entrance barriers: special tax incentives for existing enterprises, patent protections, well-known brands, committed customers, and significant switching costs. Another obstacle is the requirement that new enterprises obtain licenses or regulatory clearance before operating.
Why are there so many barriers in a certain industry?The most obvious entrance hurdles are high start-up costs and regulatory constraints, like those that mandate new enterprises get licenses or regulatory clearance prior to operation. Aside from that, the industries that are heavily regulated by the government are often the most difficult to enter.
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there are two different approaches to job design. the traditional approach to job design is to fit people to the jobs; the modern way is to fit the jobs to the people.
a. true
b. false
It is accurate to say that when deciding how to design projects, there are two different ways that can be used: one is traditional, and the other is current. Modern methods fit people to jobs rather than the conventional method of matching people to employment. Hence, option (A) is appropriate.
What is job design?Job design comes after job analysis; that is, it comes after job analysis. Its goal is to outline and organize various responsibilities, activities, and duties into a single work unit in order to accomplish specific goals.
It also describes the procedures and connections necessary for a certain job to be successful. It refers to the what, how much, how many, and the order of the tasks for a job or jobs, to put it simply.
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the forward commitment subject to the least counterparty credit risk is: group of answer choices a forward contract. a futures contract. an over-the-counter interest rate swap.
The forward commitment subject to the least counterparty credit risk is futures contract.
Credit is the trust that permits one party to lend money or resources to another party, with the understanding that the second party will not immediately refund the first party but will instead repay it or return the resources at a later time. Credit is a strategy for formalizing reciprocity, making it enforceable by law, and extending it to a sizable number of unrelated parties.
The resources offered might be monetary or they could be in the form of products or services. Any postponed payment arrangement is considered credit. A debtor, also known as a borrower, is given credit by a creditor, also known as a lender.
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How can TNCs help a country to develop?.
TNCs like Shell create jobs in the supply factories and the services where the products are sold, and they do their best to restore the environment after they accidentally do damage.
What part do TNCs play in the advancement of industry?TNCs like Shell create jobs in the supply factories and the services where the products are sold, and they do their best to restore the environment after they accidentally do damage. TNCs frequently operate charities to assist citizens in the nation where they do business.TNCs have the ability and desire to aid in the development of poor nations. But it also depends on the policies being pursued by the respective countries as to how much they can contribute to the social and economic development goals of a nation.
The development of jobs is one benefit of TNCs setting up shop in a nation.
more reliable than farming in terms of stable revenue.better training and abilities.Locals benefit from infrastructure investments, such as new roads.To learn more about TNCs refer to:
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two types of control are used extensively on projects, and both compare actual performance against the project plan. the first is steering control, where the work is compared to the plan on a continual basis to check progress. the second type of control used on projects is .
Two types of project controls in which the first is steering control where the work is compared to the plan on a continual basis to check progress and the second type of control used on projects is go/no go control.
Finding out if there is a problem and then changing direction by taking corrective action are the goals of having controls. Project management involves more than just waiting for things to go wrong before resolving them. The main thing is to have mechanisms in place to spot issues before they become obvious.
Monitoring and controlling a project entails keeping track of its progress, identifying any problems, and making the appropriate adjustments. Organizations must balance a number of tasks at this time, including: maintaining the timetable.
Go/no-go control involves testing to confirm that specific prerequisites are satisfied before a task is started. A certain area of the project may also apply this kind of control.
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If the cash budget showed a projected cash shortage, the company would most likely
a. make fewer purchases of inventory so they could control costs.
b. lay off workers for that period.
c. arrange to borrow the necessary cash for that period.
d. cut salaries for that period.
c. arrange to borrow the necessary cash for that period
If the cash budget showed a projected cash shortage, the company would most likely c. arrange to borrow the necessary cash for that period.
In the field of business, companies face situations where there is a shortage in revenue. This may happen due to a new strategy implementation or due to a new project being launched due to which cash shortage in the company.
When a company faces a situation where there is a cash shortage, the company then takes a loan or borrows some money for that time being. Usually, if the money that is to be borrowed is in a large amount, then a contract is to be made, and signatures are taken from both parties.
When a cash budget is short, the company has no option but to borrow money in order to keep the process going.
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What is the most important trait for being a successful entrepreneur?.
The most important trait for being a successful entrepreneur will be self-discipline.
Ego the most important characteristic of an entrepreneur. You must complete the assignment even if you do not feel like it. If you hold a day job, you may have to work long hours. As you begin your new business, you will need to be self-motivated to get up really early and sleep late.
Leaders typically enjoy difficulties and will work relentlessly to overcome problems that arise. They often excel at helping management teams evolve with them by encouraging them toward future initiatives and possibilities, and they adjust well to shifting situations without unravelling.
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A ________ is a series of sequential steps a manager uses to respond to a structured problem.
A procedure is a series of sequential steps a manager uses to respond to a structured problem.
The decision-maker makes a series of observations about a process before deciding. In the majority of sequential choice problems, each observation carries an implicit or explicit cost.
The term "process" refers to a set of rules and regulations that everyone must adhere to in order to execute a task. It involves a series of actions that managers or people must do in order to respond to or handle structured situations.
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f a country has a population of 400 million, 160 million people employed and 40 million people looking for work, then its unemployment rate is 10% 20% 25% 40%
If 160 million people employed and 40 million people looking for work, then its unemployment rate is 25% (third option)
What is the unemployment rate?The unemployment rate is the ratio of those who are unemployed to the total labor force.
Unemployment is when people who are willing and able to work do not have a job and are actively looking for employment. The labor force is the sum of the employed and the unemployed.
Unemployment rate = (those who are looking for work / total labor force) x 100
Total labor force = those employed + those unemployed
Total labor force = 160 million + 40 million
Total labor force = 200 million
Unemployment rate = (40 million / 200 million) x 100 = 25%
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What are the disadvantages of trade protectionism?.
Disadvantages of protectionism are limited choice for customers, slow technological growth, and increased prices.
Protectionism is an outcome of protectionist trade policies that a government of a country adopts to protect and promote its domestic producers and sellers. Protectionism limits the choice of products and services for the customers as there is no access to foreign goods.
Protectionism also results in stagnation of technological adaptation in business and production as the producers are laid back due to no competition from outside. They will also increase the price as there are no foreign goods available for competition. Customers have to pay for the increased price irrespective of the improvement in the product.
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Monopoly profit will _____ when a monopolist goes from single-price monopoly to perfect price discrimination.
Monopoly profit will increase when a monopolist goes from single-price monopoly to perfect price discrimination. Because there is no profitability competition in a monopolistic market, the monopolist has complete control over the price and quantity requested.
The level of output where a monopoly's profit is maximized occurs when the marginal cost and marginal income are equal. which are then deducted from total revenue to determine their profit or loss (TR). Remember that businesses use their average cost (AC) to evaluate profitability from earlier lectures. Monopolies can sustain above-average profitability over the long term. MC = MR maximizes profits, as it does for all businesses.
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