Answer:
c. Falling
Explanation:
Marginal costs — additional OR incremental costs for the production of an additional unit of the product, equal to the change in total costs divided by the change in the volume of production (and in the short term - the change in total variable costs divided by the change in production).
Average Variable Cost (AVC) is the total variable cost per unit of output. This is found by dividing the total variable cost (TVC) by the total output (Q). Total Variable Cost (TVC) is all costs that vary with output and material. The easiest way to determine if a cost is volatile is whether the product has changed. Profit companies will use AVC to determine where production will close in the shortest possible time. If the product they buy for good is higher than AVC for the product they produce, they pay at least all the variable costs and some fixed costs.
Since MC is the cost of producing the next unit, the AVC should fall when it is under AVC. AVC falls because MC costs the next unit produced; therefore, when the next unit costs less than the average, it should be pulling the average down. With the same logic, when MC is above AVC, it pushes the average upwards, so the AVC needs to rise. When the marginal unit is more expensive than the average, the average should increase. By definition, the MC curve intersects the AVC curve at the minimum point in the AVC curve. At the junction MC and AVC are equal.
Answer:
Correct Answer:
only a monopolistically competitive firm operates at its efficient scale.
Explanation:
In a given market, a given organization or firm could operate either in a monpolistically competitive or perfectively competitive at its efficient scale. However, in the long run, only a monopolistically competitive firm operates at its efficient scale.
Answer:
43150 units
Explanation:
For computing the equivalent units of production for conversion costs, first, we have to find the sale units which is shown below:
= Production units for material - ending work in progress units
= 44,500 units - 4,500 units
= 40,000 units
Now the ending work in progress units for conversion would be
= Ending work in progress units × percentage of completion
= 4,500 units × 70%
= 3,150 units
So, the equivalent units of production for conversion costs would be
= Sale units + ending work in progress units for conversion
= 40,000 units + 3,150 units
= 43,150 units
Some advantages are not having to bring cash with you, andyou can keep it in one place. A couple of disadvantages are having the constant threat of account fraud of you're not careful, and you can easily overspend on a credit card.
Hope this helps ~
Answer: Elasticity of demand is 7.06
Explanation:
P1= $2,750
P2=$2,880
Q1=446,000
Q2=321,000
Elasticity = -0.76
Thus, elasticity of demand for laptops is 7.06. This means that laptops are highly price elastic as it is greater than 1.
