The marginal cost is the additional cost incurred for a extra unit of production.
<h3>How to illustrate the information?</h3>
The average total cost is simply the total cost divided by the number of units.
Based on the table attached, the number of jackets is used to depict whether the producer should shut down or produce.
The short run supply curve is also illustrated.
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My friend flunked 8th grade but yet continued onto high school. But note, your parents can say yes to holding you back if a teacher recommends so. But other than that, you probably won’t get held back. But you will get held back in high school if you don’t pass.
Considerations that are not a factor in deciding which forecasting model a firm should choose is Product. This is further explained below.
<h3>What is
a Product?</h3>
Generally, a product or substance is created with the intention of resale in mind.
In conclusion, Product is one of the considerations that should not be taken into account while selecting the appropriate forecasting model for a company.
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There are four major types of probability and they include:
- classical,
- empirical,
- subjective
- axiomatic
<h3>What is Probability?</h3>
This refers to the mathematical depictions of the possibility of an event occurring based on given variables.
Please note that your question is incomplete so I gave you a general overview of a probability distribution.
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