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Sonbull [250]
2 years ago
7

The production possibilities curve is bowed out (curve) because

Business
2 answers:
Korolek [52]2 years ago
7 0

Answer:

as the price of a good increases,the quantity supplied decreases

Ann [662]2 years ago
6 0

Answer:

I think it's B

Explanation:

Because there are increasing opportunity costs of production.

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Identify the four major requirements necessary for a free-market system to operate.
g100num [7]

The free market<span> is defined as the system in which the price of goods is agreed upon by consent between sellers and consumers, through the laws of supply and demand.  Their requirements are the existence of free competition, (which in turn requires that among the participants of a commercial transaction there is no coercion, no fraud, or more generally, that all transactions are voluntary), c</span>omplete universal information about the products and their prices, a free medium of exchange with a common currency, reasonable transaction costs,  set of sellers and a set of buyers.

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3 years ago
Jared expects to charge $60 per hour for his industrial maintenance business during the following year. He expects to reach 50,0
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Answer:

Explanation:

He should work with the 50,000 hours estimate instead of the 40,000 in order to avoid shortage of funds during the business year

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3 years ago
The term economies of scale refers to the fact that as the:
frutty [35]

Answer:

quantity of product produced in a given period increases, the cost of manufacturing each unit decreases

Explanation:

Economies of scale happens when the average total cost (variable + fixed production costs per unit) decreases as total output increases. This generally takes place because fixed costs are the same for a small number of units produced or a large number of units produced, so the average fixed cost per unit tend to decrease as more units are produced (at least up to certain point). Variable production costs per unit can also decrease as total output increases since materials might be purchased in larger quantities resulting in higher discounts or labor productivity increases.

7 0
3 years ago
Harlose Suits faced a lot of complaints from customers when its recent batch of goods was dispatched. The employees at Harlose S
Mekhanik [1.2K]

Answer:

External failure costs.

Explanation:

These are explained to be the faults or defects a customer finds out or see after receiving his good and leaves the factory or finds out when goods or services has been delivered to him/her.

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3 years ago
If the demand for a steak is unit price elastic, then; Select one: a. the percentage change in quantity demanded is equal to the
Anvisha [2.4K]

Answer:

The correct answer is option a.

Explanation:

The price elasticity of demand shows the responsiveness of quantity demanded to change in price. It is measured by the ratio of proportionate change in quantity demanded and proportionate change in price.

Unit price elastic means that the price elasticity of the good is 1. This implies that the percentage change in quantity demanded must be equal to the percentage change in price.

6 0
3 years ago
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