<u>In </u><u>microeconomics</u><u>, the term </u><u>monopoly</u><u> is synonymous with decreasing returns of scale.</u>
When there are economies of scale in production?
As output increases, the long-run average total cost decreases. The total variable cost of creating five units of output is indicated by the Y-interval between the two curves in the diagram.
Is price and marginal cost equal?
- In economics, the practice of setting a product's price to cover the additional expense of producing an additional unit of output is known as marginal cost pricing.
- This policy limits the producer's ability to charge for each unit of a product sold to the addition to total cost attributable to materials and direct labor.
Simply put, what is microeconomics?
- Microeconomics is the study of how people, households, and businesses make decisions and distribute resources.
- It generally pertains to markets for goods and services and addresses both personal and financial concerns.
Learn more about microeconomics
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Answer:
see below
Explanation:
Opportunity cost is the sacrificed benefit by choosing a preferred option over others. The value of opportunity cost is the foregone benefit from the best alternative.
In this situation, the person had to choose between buying gas for the car or using that money to purchase food. Since the person opted to buy gas, they sacrificed having a meal for the rest of the day. The pleasure derived from eating is the opportunity cost for this person.
Answer:
D. Customers and suppliers willing to learn and evolve with new technology
Explanation:
In an implementation of any new IT system, the resistance to adoption from different stakeholders in the organizations is one of the most difficult challenges that is faced by the project managers. To overcome this resistance, the project manager needs to be accustomed to the basic principles of change management which involves:
1 - Designing incentive systems that forces all the stakeholders to adopt the new system.
2- Manage proper communication strategy that conveys the benefits of adopting the new system and conduct training for all the users.
However, there will still be resistance from certain suppliers and customers to the adoption of the new system. Which can lead to failed implementation of the system. However by doing the following, any organization can make sure that customers and suppliers quickly become an integral part of the IT system:
1- Take feedback from the customers and suppliers so that not only a more user friendly system can be designed, but also customers will be more invested as they feel they have been part of the decision making process.
2- Invite customers and suppliers to use the company resources to make themselves accustomed to the new system.
Answer:
(a)
1. Kalispell State Bank
2. Glacier Boutique
3. Big Sky Sports
4. Kalispell State Bank
5. Big Sky Sports
6. Big Sky Sports
7. None of the above
8. Glacier Boutique
9. None of the above
10. Big Sky Sports
(b) Business transactions refers to the transactions that are related to only business, such as purchase of land, machinery, goods for business purposes. Any type of personal transaction is not included in business transaction.
That is false
The court would never do that , but before you would eat , you need to check if this belong to you or not
