Checking account possible risks include:
- identity theft
-overdrafting
-limited amount to withdraw from ATM
-Fee for not having enough in yours account.
-Fees for using your card
Answer:
a. Economies; falling
Explanation:
Economies of scale: It is referred to as the reduction in cost due to an increase in the scale of production. Due to efficient production, the company is able to gain a cost advantage. It also helps the consumer to enjoy lowering the price of goods in the market, which lead to an increase in demand for goods.
There are two types of economies of scale:
Internal economies of scale- It includes technical and efficient production, good management, efficient procurement, etc.
External economies of scale- It includes government policies, support and taxation policy.
Therefore in the given case, the firm is likely to exhibit Economies of scale and falling average total cost.
Answer:
Cost per equivalent unit: $60
Explanation:
Cost per equivalent unit = (Cost of Beginning Work in Progress Inventory + Total production cost during the period) / Equivalent Units of Production (EUP)
Total Production Cost = $90,000
Equivalent Units of production (EUP) = 1,300 + 400 x 50% = 1,500 units
Cost per equivalent unit: $90,000 / 1,500 units = $60
The three major barriers that can lead to oligopoly are: 1) Many small business owners want to put up small business with same products at the same market. 2) The prices are not competitive enough with regards to its product so the business owners can put its business in a not so competitive market and 3) The market itself has the same product that can lead to a competition if it has big competitors with the same products.
