Answer:
A. Non-consumptive use.
A. Are used for direct subsistence by people who collect them.
Explanation:
Existence value simply refers to the satisfaction a person derives from the knowledge that something exists. He may not have a direct use for the commodity at the time , but just knowing that the material exists, serves as utility to him. This is the non-consumptive use.
Most natural resources like marine life and trees in the forests provide existence value to many. These natural resources can be used in a subsistence level by people who have access to them. For example, in local settings, trees can serve as firewood to people.
Answer:
Total variable cost if 4 units were produced
= $33.75 x 4 units = $135
Total fixed cost = Total cost - Total variable cost
Total fixed cost = $175 -$135
Total fixed cost = $40
Average fixed cost = Total fixed cost/No of units
Average fixed cost = $40/10 units
Average fixed cost = $4
The correct answer is B
Explanation:
In this case, we need to calculate the total variable cost on the ground that 4 units were produced. Then, we will determine the total fixed cost by deducting the total variable cost from total cost. Finally, we will divide the total fixed cost by 10 units in order to obtain the average fixed cost.
Answer:
Delgado will classify the stock on his balance sheet as a long term investment.
Explanation:
A long term investment is an asset owned by a company and which it hopes to keep for more then a year.
Long term investments are recorded on the asset side of balance sheets and they can be in form of land, bonds, stocks, machinery, and so on.
The opposite of long term investment is short term investment where an asset is kept for less than a year.
Answer: Option (C) is correct.
Explanation:
Correct option: The price level and nominal wages.
According to the classical dichotomy, nominal variables moves proportionately with the quantity of money whereas real variables remains unchanged.
A classical model that is based on the flexibility of prices and wages, conclude that any changes in money supply only affects the nominal variables whereas real variables remains constant. This theory results in the independence of the real variables from any changes in the money supply and nominal variables.
Location externalities (skilled labor force, supporting industries in place, etc.) are considered a<u> country-specific</u> factor when choosing a location of production.
In economics, an externality or outside fee is an indirect cost or benefit to an uninvolved third party that arises as an effect of some other celebration's interest. Externalities may be taken into consideration as unpriced items are concerned in either customer or manufacturer marketplace transactions.
Location externalities describe the mutual interplay among marketers, which at a micro-stage manner that the vicinity of one or extra families and/or companies in a neighborhood modifies the nice of that neighborhood.
There are 4 predominant forms of externalities – positive consumption externalities, tremendous production externalities, negative consumption externalities, and negative production externalities. Externalities create a social fee in which items are undersupplied or create harm to the surroundings.
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