Answer:
Theory of production, in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw material, fixed capital good, etc., that it employs (its “inputs” or “factors of .
Explanation:
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Answer:
Joshua statement is correct.
Explanation:
Marginal cost:
Is the cost of producing a new unit.
Average Cost:
If the marginal cost of this plant is lower than their other plants, it can decrease his average cost by increasing the amount produced.
This increase in production decrease the impact of the fixed cost in the unit price. At more production the average cost will decrease. Because the variable cost keeps at the same value but the fixed cost per unit decrease.
He will ask his brother to help him with his homework but exclude watching tv and playing video games until he finishes the homework
Answer:true
Explanation: just took the test
Answer:
C) $57,000
Explanation:
The gross domestic product is the total production of final and legal goods and services in an economy.
total production of final goods = (20 couches x $2,600 per couch) + (5 leather sets x $1,000 per set) = $52,000 + $5,000 = $57,000
the leather sets are considered final products since they are part of the ending inventory of Cowhide, Inc.
