Answer:
2) Set the price of each piece of furniture equal to the marginal cost of producing it.
Explanation:
What happens in two-part tariff is that the producer recovers the entire cost of producing by charging price equal to the marginal cost.
This helps him recover cost and the entire fee the producer charges results in profits eventually. Hence, the profits is the consumer 'surplus' that we calculate given that the price of product is equal to marginal cost.
So answer here is 2- Set the price of each piece of furniture equal to the marginal cost of producing it.
The gradual decrease in the value of natural resource is called depletion. The deplection expense is calculated on the cost net off salvage value.
Therefore, Depletion expense per ton of ore would be $0.64 per ton of ore.
The kind of people who are in witness protection program are those whose lives are in danger because of the evidence they gave as witnesses in a court of law. The program was created in 1971 to protect those who are in danger of been killed as a result of been a witness in a court case.
Answer:
Situations in which one firm acts and other firms respond.
Explanation:
Sequential game refers to a game in a game theory in which one person or firm acts and other person or firm respond to this action. In this type of game, if there are two firms then one of the firm have to act first which means that second firm have some of the information about the first firm before acting.
Otherwise, there will be no significance of difference in time on the strategic effect.
