Answer: The marginal benefit curve is downward.
The marginal cost curve is upward
Explanation:
Unlike the marginal cost curve, whose slope is often upwards, the marginal profit curve is generally known by its downward slope.
The optimum allocation of resources to a given product will take place when these curves are used. MB = MC always.
The sum of the explicit and implicit costs incurred in the production process is called total cost
Answer:
Command
Explanation:
In the command economic model, the government determines the level of economic productions in the country. It decides what will be produced, its quantity, and the cost price. A central authority or the government owns all the factors of production.
The command economy is also the planned economy. The government plans and produces all goods and services. The private sector is not present in the command economy.
Answer:
Tapered integration
Explanation:
Tapered integration is a term in organization theory that is a mix of market exchange and vertical integration. Advantages of vertical integration include risk protection, motivation tool for market and internal division, enlargement of input channels with little capital outlays,
the use of information on internal cost to discuss contracts with market.
Its disadvantages are monitoring issues, inefficiency and minimal production.
A testamentary trust could be established to oversee the charitable asset distribution in accordance with the decedent's desires.
A Testamentary Trust: What Is It?
A trust that is created in line with the directions in a last will and testament is known as a testamentary trust. A trust is a fiduciary arrangement that enables a trustee—a third party—to manage resources on behalf of the trust's beneficiaries.
A person's instructions for creating a testamentary trust may be included in their will, allowing the trustee to disperse their assets to the designated beneficiaries. A testamentary trust, however, is not established until the person has gone away. Additionally, a testamentary trust may appear more than once in a will.
Learn more about Testamentary Trust here:
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