Answer: 2) increasing opportunity costs.
Explanation:
The Production Possibilities frontier is bowed out as it shows that for one more unit of a good to be produced, an additional unit of the other good must be given up.
This represents increasing opportunity costs because opportunity cost is the cost we incur for choosing one alternative over another. By producing more and more of one good, we give up more and more of the other good which means that our opportunity cost rises.
Answer:
Step-by-step explanation:
Step-by-step explanation:
Step-by-step explanation:
Explanation:
Answer:
The total turnover increases
Explanation:
Asset Turnover Ratio is a measure of how efficient the assets of a company is when compared with the company's sales or revenue. To calculate Asset turnover ration, the<u> net sales is set as a percentage of the company's total assets. </u>
The higher the turnover of the asset based on the calculation then the higher the chances that organisation is generating revenue efficiently from its assets. A lower turnover however is the implication that the company is not efficiently using its assets and it could imply some internal issues.
Therefore, the higher the sales without any change in assets means the Asset Turnover will increase or be higher and it will indicate higher efficiency
The correct answer is $3409
Explanation:
The average refers to the number or value that represents the "mean" or "middle point" in two or more values. Moreover, the general rule to find this value is to add all the values, in this case, it is necessary to add the expenses of the three months, and then divide the total by 3 (number of values) as there are three months. The process is shown below:
$3260 + $3537 + $3430 = $10227
10227 ÷ 3 = 3409
If demand for a good is extremely elastic, raising the price of that good typically has what effect on total revenue--- decreases
If demand is elastic at a given price level, then should a company cut its price, the percentage drop in price will result in an even larger percentage increase in the quantity sold—thus raising total revenue. However, if demand is inelastic at the original quantity level, then should the company raise its prices, the percentage increase in price will result in a smaller percentage decrease in the quantity sold—and total revenue will rise.
Demand elasticity :
Demand elasticity is the change in quantity demanded per change in a demand determinant. Although there are several demand determinants, such as consumer preferences, the main determinant with which demand elasticity is measured is the change in price. Businesses are particularly interested in price elasticity, since it measures by how much total revenue changes with the price.
Learn more about demand elasticity :
brainly.com/question/22172669
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