Answer:
d. $17,700
Explanation:
<u>considering accounting cost: </u>
1,400 book per semester x 3 semester = 4,200
500 dollars of book x 3 semester =<u> 1,500</u>
Total explcit cost: 5,700
implicit cost (lost wages)
8,000 less 50% cost reduction = 4,000
then 4,000 per semester = 12,000
Total opportunity cost: 12,000
Total cost for the product 17,700
Answer:
C. Apple launches a global network of driver-less cars, buses, and trucks on demand via mobile app.
Explanation:
The reason is that driver-less cars will have a large impact on the operations of Uber and Lyft because they can now finance these driverless cars easily in coming future which means a great number of driver employees will get unemployed. This driver-less car investments of the Apple in the project Titan will completely turn the tables for Loss making organization Uber. Thats the reason why people are still investing in this organization in the stock exchange because people think it will increase its value by greater value in coming future.
Answer:
Since a perfectly competitive firm must accept the price for its output as determined by the product’s market demand and supply, it cannot choose the price it charges. Rather, the perfectly competitive firm can choose to sell any quantity of output at exactly the same price. This implies that the firm faces a perfectly elastic demand curve for its product: buyers are willing to buy any number of units of output from the firm at the market price. When the perfectly competitive firm chooses what quantity to produce, then this quantity—along with the prices prevailing in the market for output and inputs—will determine the firm’s total revenue, total costs, and ultimately, level of profits.
Answer:
component lifestyle
Explanation:
Component lifestyle is a technique that is employed to fulfil diverse needs rather than some traditional lifestyle. It is designed in such a way to deal with different forms of ideas, thoughts. Component lifestyle is characterised by selecting goods and services that fulfil the needs of various peoples with different styles. Component lifestyle is an efficient way to design products and services to gain more customers.
Answer:
The assumptions that a perfectly competitive market is based on do not exist in the real world. But this market form exhibits efficiencies which others don't. That's why it is used in studying market structure.
Explanation:
Perfect competition is assumed to have the characteristics that are not found in the real world. For instance,
1. A large number of buyers and sellers
2. No barriers to entry and exit
3. Homogenous products
4. Buyers have perfect knowledge
5. Firms are price takers
All these do not really exist in the real world. Firms produce differentiated products. There are a number of restrictions like high costs, licensing, etc. Buyers do not have perfect knowledge.
But perfect competition exhibits both allocative as well as productive efficiency, while other market forms are mostly inefficient. That's why in studying market structure we start from perfect competition because it is the ideal case.