Answer:
B. Reduce output in the short run
Explanation:
Recession is a period of temporary economic decline during which there is a reduction in economic activities like buying and selling and so on.
So the best decision for techno to take if there are fears of recession is to reduce the amount or quantity of goods they are producing in the short run, because recession is only a period of TEMPORARY decline and not permanent decline.
Hello, I’m a guy and imma tell you this, you really do need one if your on this site trying to get one. Not to be mean
Answer:
$0.66
Explanation:
Marginal cost is the cost of producing one extra unit of a product.
if each worker is paid $8, then the marginal cost of producing the last cupcake = $8 / 12 = $0.66
Answer:
standardized good, full information, no transactions costs, participants are price takers.
Explanation:
Perfectly competitive markets are theoretical, because even commodities' markets (e.g. corn, oil, etc.) do not comply 100% with all the characteristics of a perfectly competitive market, but are close enough to consider them as such.
The 5 characteristics of perfectly competitive markets are:
- Many participants (many buyers and sellers)
- Standardized goods or services
- Zero transaction costs
- No barriers to entry
- All participants can access perfect information
As I said before, no market complies 100% with these requirements, but some commodities' markets get close enough, but even there:
- commodity traders charge a transaction fee
- capital is a great barrier to entry that cannot be eliminated, e.g. it costs millions to drill and sell oil
- not all participants will be able to access perfect information
A) is late recognizing that a recession has begun and conducts expansionary monetary policy.
