Answer:
False
Explanation:
The slope of the budget line is the ratio of the prices of that bundle of goods. It represents the price at which a consumer would be willing to substitute one good for the other in the same bundle of goods.
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Answer:
Agriculture communications professionals need to have the same basic background on marketing, covering areas such as market research, product research, and market communication.
However, they will also need to have an agriculture-related background, because they need to understand the dynamics of the agriculture business, from farm issues, to the kind of crops or produce that they can buy or sell in a specific area, to even agricultural policy.
Answer: (a) $197,500
(b) $ 189,500
Explanation:
Given : The marginal cost function : 
To find the cost function, we need to integrate the above function with respect to x.
Now, the additional cost incurred in dollars when production is increased from 100 units to 150 units will be:-
![\int^{150}_{100}\ C'(x)\ dx\\\\=\int^{150}_{100} (4000-0.4x)\ dx\\\\=[4000x-\dfrac{0.4x^2}{2}]^{150}_{100}\\\\=[4000(150)-\dfrac{0.4(150)^2}{2}-4000(100)+\dfrac{0.4(100)^2}{2}]\\\\=[600000-4500-400000+2000]\\\\=197500](https://tex.z-dn.net/?f=%5Cint%5E%7B150%7D_%7B100%7D%5C%20C%27%28x%29%5C%20dx%5C%5C%5C%5C%3D%5Cint%5E%7B150%7D_%7B100%7D%20%284000-0.4x%29%5C%20dx%5C%5C%5C%5C%3D%5B4000x-%5Cdfrac%7B0.4x%5E2%7D%7B2%7D%5D%5E%7B150%7D_%7B100%7D%5C%5C%5C%5C%3D%5B4000%28150%29-%5Cdfrac%7B0.4%28150%29%5E2%7D%7B2%7D-4000%28100%29%2B%5Cdfrac%7B0.4%28100%29%5E2%7D%7B2%7D%5D%5C%5C%5C%5C%3D%5B600000-4500-400000%2B2000%5D%5C%5C%5C%5C%3D197500)
Hence, the additional cost incurred in dollars when production is increased from 100 units to 150 units= $197,500
Similarly, the additional cost incurred in dollars when production is increased from 500 units to 550 units :-
![\int^{550}_{500}\ C'(x)\ dx\\\\=\int^{550}_{500} (4000-0.4x)\ dx\\\\=[4000x-\dfrac{0.4x^2}{2}]^{550}_{500}\\\\=[4000(550)-\dfrac{0.4(550)^2}{2}-4000(500)+\dfrac{0.4(500)^2}{2}]\\\\=[2200000-60500-2000000+50000]\\\\=189,500](https://tex.z-dn.net/?f=%5Cint%5E%7B550%7D_%7B500%7D%5C%20C%27%28x%29%5C%20dx%5C%5C%5C%5C%3D%5Cint%5E%7B550%7D_%7B500%7D%20%284000-0.4x%29%5C%20dx%5C%5C%5C%5C%3D%5B4000x-%5Cdfrac%7B0.4x%5E2%7D%7B2%7D%5D%5E%7B550%7D_%7B500%7D%5C%5C%5C%5C%3D%5B4000%28550%29-%5Cdfrac%7B0.4%28550%29%5E2%7D%7B2%7D-4000%28500%29%2B%5Cdfrac%7B0.4%28500%29%5E2%7D%7B2%7D%5D%5C%5C%5C%5C%3D%5B2200000-60500-2000000%2B50000%5D%5C%5C%5C%5C%3D189%2C500)
Hence, the additional cost incurred in dollars when production is increased from 500 units to 550 units = $ 189,500
Explanation:
The computation is shown below:
Material Cost per unit = Total Material Cost ÷ Equivalent units of production
= $35,500 ÷ 10,000 units
= $3.55
Conversion Cost per unit = Total conversion cost ÷ Equivalent units of production
= $54,000 ÷ 12,000 units
= $4.5
Total Manufacturing cost per unit = Material cost per unit + conversion cost per unit
= 3.55 + 4.5
= $8.05
The answer is False
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