Answer:
Economies of scale
Explanation:
Economies of scale refers to reducing total costs per unit by increasing total output. All companies have certain fixed costs, some companies have higher fixed costs than others, but they always exist. When you are producing something, the cost equation is production costs = variable costs per unit + average fixed costs per unit.
Variable costs vary directly with output, while fixed costs do not, e.g. salaries can be fixed, depreciation, rent, interests, etc. The higher the output, the lower the average fixed cost per unit.
Also, sometimes variable costs can also decrease as total output increases. E.g. you can get higher discounts for purchasing larger quantities of materials and supplies.
Answer:
Lack of competition
Explanation:
A centrally planned economy lack competitiveness. The government decides what to produce, the price, and the distribution channel. Because of these restrictions, there is no motivation for profits. Without competition, a centrally planned economy will have the following features.
- There be a lot of inefficiency and wastefulness.
- Consumers will not have a variety of goods and services to choose from in the markets.
- Businesses will make low profits.
Answer:
The answer is below.
Explanation:
The z score is a used in statistics to determine by how many standard deviations the raw score is above or below the mean. The z score is given by:
a) Given that n = 100, μ = 2000, σ = 18
For x < 1995 millimeters:
From the normal distribution table, P(x < 1995) = P(z < -2.78) = 0.0027
b) P(z > z*) = 10% = 0.1
P(z < z*) = 1 - 0.1 = 0.9
z* = 1.28
From the normal distribution table, P(z < z
<span>If in December 1994 a man in Ohio decided to deposit all of the 8 million pennies he’d been saving for nearly 65 years, then his transactions deposits will be $8,000,000, his total reserves will be all in all 8 million pennies.</span>
Answer:
Virtual meetings are becoming more and more common nowadays. They can be used for meetings with colleagues, staffs or partners and even for training, presentation. Here are several advantages of virtual meetings, explaining why it becomes so common.
First, they are cost effective compared with the physical one. Virtual meeting requires each participants only computer or another mobile device - which that almost every one owns with internet connection. Meanwhile, the physical one requires travelling which takes time and money, place to hold the meetings.
Secondly, it is convenient and allow the participants from different places. The technological development with internet connection facilitate the virtual meeting even when the members are geographically distant from each other.
Furthermore, there are several minor benefits such as they help share information in real time, contribute to environmental protection, etc.
