Answer: Option (B) is correct.
Explanation:
Correct option: Decreasing marginal product.
Marginal product is the change in the level of output, when there will be an extra input employed in the production of a certain commodity.
So, Marginal Product = 
Where,
Q = Output
I = Input
Marginal product of 1st bag = 500
Marginal product of 2nd bag = 
= 300
Marginal product of 3rd bag = 
= 100
∴ From the above calculations, we can seen that as we employed one more bag of seeds as a result marginal product goes on diminishing.
Hence, Joan's production function exhibits decreasing marginal product.
<u>Answer:</u> Option B
<u>Explanation:</u>
Revved Rider company is the market leader as the company possess a superior engine technology that is not owned by other companies. This proves that the company has competitive advantage of technology over the competitors in the market.
Competitive advantage means having an advantageous quality which the other companies do not have in the market. When a company has competitive advantage it can become a price leader or market leader. It also becomes the consumer's most preferred company when compared to other companies.
Answer:
False advertising.
Explanation:
The car dealership is showing some advertising that caughts public atention because it offers lower rates and cheap prices for a product that it may not even exist. This is why is called false advertising, because at the time costumer arrives to the dealership asking for the car advertised, they try to sell a different product that is even more expensive.
The total cost of equipment that should be recorded is calculated by adding up all the given values in this item. The costs include equipment cost, transportation cost, tax, and installation cost. Adding up all the values,
TC = ($60,000) + ($1,000) + ($3,000) + ($2,500)
TC = $66,500
ANSWER: TC = $66,500
