Answer:
a) a downward shift in the AFC curve
Explanation:
AFC = Average Fixed Cost, AVC = Average Variable Cost, MC = Marginal Cost
Average Fixed Cost is defined as the fixed cost of production divided by the quantity produced. Mathematically given as:
Average Fixed Cost = Fixed Cost ÷ Quantity
AVC = FC ÷ Q
Average Variable Cost is defined as the variable cost of production divided by the quantity produced. Mathematically given as:
AFC = VC ÷ Q
Marginal Cost is defined as the cost incurred for an additional unit to be produced. Mathematically given as:
MC = ΔC ÷ ΔQ
The firm discovered a more efficient technology implies that the cost of production is reduced. The result of this is that the fixed cost (FC) is reduced and consequently, the AFC is reduced as well. Hence, the AFC curve shifts downward. We therefore see that a reduction in fixed costs (due to the discovery of a more efficient technology) results in the AFC curve shifting downwards
<u>Hence, Option A (a downward shift in the AFC curve) is the correct answer </u>
It is true that some jobs require more training and experience than others. Also, that some jobs carry more responsibility, pay more, and have greater status.
But that doesn’t mean one job is more important than another.
In an organization, everyone matters and no one should look down upon someone for the work they are doing.
Remember, every job should be valued. And, every person should be treated with dignity and respect.
Answer:
O social and economic indicators
Explanation:
The Human Development Index (HDI) is a statistic used to measure a country's achievements in different aspects of its social and economic welfare. The united nations developed HDI to evaluate different dimensions of human development in a country. Dimensions of human development refer to people's health, educational level, and standards of living.
The HDI makes comparisons between countries by analyzing components such as average annual income and educational achievements.
Answer: See explanation
Explanation:
Economics is the study of human behavior and also how resources are allocated in the society. Economics studies the reason for the behavior in the individuals, firms or government when certain situations happen in the economy.
Opportunity cost is refered to as n alternative cost that's, the cos if what we forgo when we make an alternative decision. For example, if I purchase a book for $20, the opportunity cost is something else that I could have used the $20 for.
