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victus00 [196]
1 year ago
7

Matt's factory rents equipment and hires students to produce sports bags. Compare the outputs at which Matt's AVC and ATC curves

are at their minimum points. The output at which Matt's AVC curve is a minimum is ________ the output at which his ATC curve is a minimum. This is because initially when decreasing marginal returns set in ________.
Business
1 answer:
stiks02 [169]1 year ago
7 0

The output at which the average variable cost is a minimum is smaller than the output at which the average total cost is a minimum because initially when decreasing marginal returns set​ in, (E) average fixed cost is decreasing at a faster rate than average variable cost is increasing.

<h3>What is the average variable cost?</h3>
  • In economics, the variable cost per unit is known as the average variable cost.
  • Divide the entire variable cost by the output to get the average variable cost.
  • In the short term, the enterprises use the average variable cost to determine whether to stop production.
<h3>What is the average fixed cost?</h3>
  • The average fixed cost (AFC) is a fixed cost that remains constant regardless of the number of goods and services produced by a corporation.
  • To summarize, the average fixed cost (AFC) is the fixed cost per unit derived by dividing the total fixed cost by the output level.

Therefore, the output at which the average variable cost is a minimum is smaller than the output at which the average total cost is a minimum because initially when decreasing marginal returns set​ in, (E) average fixed cost is decreasing at a faster rate than average variable cost is increasing.

Know more about average variable cost here:

brainly.com/question/25325504

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Complete question:

​Matt's factory rents equipment for manufacturing sports bags and hires students.

The table gives​ Matt's average total cost schedule and average variable cost schedule.

The output at which the average variable cost is a minimum is smaller than the output at which the average total cost is a minimum because initially when decreasing marginal returns set​ in, ______.

A.the  total fixed cost initially increases and then decreases

B. total fixed cost is decreasing at a faster rate than total variable cost is increasing

C. average variable cost is decreasing at a faster rate than average fixed cost is increasing

D. total variable cost is decreasing at a faster rate than total fixed cost is increasing

E. average fixed cost is decreasing at a faster rate than average variable cost is increasing

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An investment has been growing at a fixed annual rate of 20% since it was first made; no portion of the investment has been with
Mademuasel [1]

Answer:

The correct option is 2

Explanation:

Let us assume the current value of the investment be x

And the annual growth factor of the investment is 1.2

1. The  investment value has increased or risen by 44% since it was first made

It is known that the combined growth factor of the investment is 1.44 and no information is stated regarding the actual ($) values. Therefore, the unique value could not be computed.

So, this statement lacks information and insufficient to solve for x.

2. 1 year ago, the withdrawn money worth is $600 and at present the worth of the investment would be 12% less than the actual worth.

1 year ago, the value of the investment was x / 1.2. So, the equation could be set up regarding the withdrawal.

The equation would be:

= (x/ 1.2- 600) × (1.2)

=0.88x

Therefore, the unique value to could be answered and the sufficient to answer.

NOTE: The options are missing. So I am providing the answer with the options.

4 0
3 years ago
The fact that businesspersons are expected not to harm customers, clients, and competitors knowingly through deception, misrepre
just olya [345]

Ethics.

Business ethics is a system of ethical principles for acting fairly and honestly in the workplace and with customers and companies.  

4 0
3 years ago
The difference in a variable measured over observations (time, customers, items, etc.) is known as
kolezko [41]
<span>The difference in a variable measured over observations (time, customers, items, etc.) is known as the variance. 
</span><span>it is the measure of variability that utilizes all the data and it is calculated by
</span><span> taking the differences between each number and the mean,. Then these differences are squared in order to be positive. At the end the sum of the squares is divided by the number of values in the set.</span>
5 0
3 years ago
3. Balancing utility and price Suppose Tim has to choose between purchasing high-definition televisions and juice. Which of the
Rom4ik [11]

Answer: Option (C) is correct.

Explanation:

The following rule should be use to choose the optimal quantities of two goods:

\frac{MU\ of\ Juice}{Price\ of\ Juice} =\frac{MU\ of\ HDTVs}{Price\ of\ HDTVs}

Marginal utility refers to the utility that a consumer can get from the additional unit of a commodity.

\frac{MU\ of\ Juice}{MU\ of\ HDTVs} =\frac{Price\ of\ Juice}{Price\ of\ HDTVs}

From the above equation, we can predict that marginal utility from the last TV is greater than the marginal utility obtained from the last gallon of juice. We know that Juice is less expensive as compared to the price of TV.

8 0
3 years ago
Explain errors are not detected by a trial balance ​
Paha777 [63]

Answer:

Errors not detected by a trial balance ​ are:

1. Posting to Wrong Account

2. Error of Amounts in Original Book

3. Compensating Errors

4. Errors of Principle

5. Errors of Omission

Explanation:

The Trial Balance does not provide absolute assurance of ledger account accuracy. It is just an evidence of the postings' arithmetical accuracy. Even though the amount of debits equals the amount of credits, there may be inaccuracies.

A trial balance will not reveal such errors, and they are:

1. Posting to Wrong Account: IF accidentally posted something to the wrong account, but it was on the right side, the Trial Balance agreement will not be affected. For example, if a $200 purchase from John was credited to Joshua instead of John. As a result, Trial Balance will miss such an error.

2. Error of Amounts in Original Book: The Trial Balance will come out appropriately if an invoice for $632 is filed in Sales Book as $623, because the debit and credit have been recorded as $623. The arithmetical precision is there, yet there is a flaw.

3. Compensating Errors: This occurs one mistake is offset by a similar mistake on the other side. These errors are cancelled if one account in the ledger is debited $500 less and another account in the ledger is credited $500 less.

4. Errors of Principle:  An errors of Principle is one that breaches the foundations of bookkeeping. Purchases of furniture, for example, are debited to the Purchase Account rather than the Furniture Account; wages paid for the erection of plant are debited to the Wages Account rather than the Plant Account; and the amount spent on a building extension is debited to the Repairs Account rather than the Building Account, and so on. These kind of errors do not alter the total debits and credits, but they do impair the bookkeeping principle.

5. Errors of Omission: There will be no effect on the Trial Balance if a transaction is completely omitted. An error of omission occurs when a transaction is fully unreported in both aspects, or when a transaction is documented in the books of primary entry but never entered in the ledger. For example, if a credit purchase is not recorded in the Purchase Day Book, it will not be posted to both the Purchase Account and the Supplier's Account. This error, on the other hand, will not cause Trial Balance to disagree.

7 0
3 years ago
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