Answer:
the experience curve
Explanation:
The experience curve refers to a company having lower production costs due to increasing experience of the manufacturing process.
This concept applies to most activities in life, do you remember "practice makes perfect", well practice is equal to experience. For example the first time you drove a car, it probably took you a long time to go from your point of origin to your destination. Your driving inexperience increased the costs of driving from one place to another (more time and fuel spent). But after a while, when driving was something normal you are able to drive the same distance at a lower cost (less time and fuel).
Imagine for a car company that is trying out a new model. The first units are usually assembled with several flaws that must be corrected and are used to research possible design or equipment flaws. Those failures are corrected as the workers acquire more experience.
Answer:
The correct answer would be C) operating at efficient scale.
Explanation:
When the firms have same cost curve in the market , where there is free entry and exit, then the firms in the market must be earning zero economic profit which is when price of good is equal to total average cost of production .
For example if firms in market are profitable, then new firms would want to enter the market and when they do there will be increase in quantity of goods , so the prices and profit would go down . And if the situation was opposite , when firms are not profitable in market , then many firms will exit the market , which will lead to decrease in quantity of goods and increase in prices and profits.
So in the long run equilibrium , all firms would be operating at the efficient scale.
Answer:
b.$277,491
Explanation:
The computation of the future value is shown below:
Annual payments Discount factor Future value
$60,000 1.174241375 $70,454.4825
$70,000 1.113025 $77,911.75
$75,000 1.055 $79,125
$50,000 1 $50,000
Total Future value $277,491.2325
The discount factor is
= (1 + 0.55)^3 + (1 + 0.55)^2 + (1 + 0.55)^1 + (1 + 0.55)^0
<span>C.) The amount of money earned in a week being invested in new book purchase
Hope this helps!</span>
Answer:
C. perpetual inventory system
Explanation:
Based on the information provided within the question it can be said that the controller is most likely to implement a perpetual inventory system. This is a system that documents transactions as they happen (stock coming in or going) completely autonomously and efficiently. This would save time and money by strengthening internal control over the accounting for materials.