Answer:
Explanation:
The lunch plate industry in Oahu is a perfectly competitive industry.
This industry is also a decreasing cost industry. A decreasing cost industry can be defined as the type of industry where an increase in the number of firms in the industry causes the average production cost to decline.
The industry is currently in long-run equilibrium and has the price level at $5.
As the demand increases, the price level will initially increase. But this increase in the price will cause the profits to increase and thus attract potential firms to join the market.
As the number of firms increases the average cost of production will decrease. As a result, the supply in the market will increase more than the demand.
So the long-run equilibrium will be reestablished at a lower price than earlier.
Answer:
the total salon services and products sold
Explanation:
Productivity can be regarded as ratio of output volume to that of the volume of inputs. It give the measurements of
production inputs efficiency, these input could be labour, capital. Productivity helps to know how these inputs are been used in production of given level of output in economy.
Answer: Prevention cost is used to protect equipments and assets and as such is an investment.
Explanation:
Prevention cost like the name suggests is a cost incurred in the process of keeping a machine or equipment in a working condition to avoid a future breakdown which might lead to a loss in profit for the company. This is why it is referred to as an investment because it is done to prevent the loss of profit due to downtime a breakdow of the machine or equipment would cause.
Failure cost is a true cost because it arises from a loss incurred by the company through production or it capital invested in the business.
Answer:
No
Explanation:
Katie's opportunity cost is too high. She is giving up more money at the dental practice than the $100 she would be saving by making the pastries from hand instead of ordering them from the caterer. The group should continue to order the pastries and split the cost among all the friends so each person's share is lower.
A supply chain is a set of firms that make and deliver a given set of goods and services to the ultimate consumer.
<h3>What is a supply chain?</h3>
A Supply chain is the entire system of production. It starts from sourcing for raw materials to delivering a product or service to an individual also known as a customer.
Therefore, a supply chain is a set of firms that make and deliver a given set of goods and services to the ultimate consumer.
For more information on the supply chain kindly check brainly.com/question/15217906
