All categories

3 years ago

X-inefficiency refers to a situation in which a firm:

Business

1 answer:

ki77a [65]3 years ago

6 0

Answer:

D. Fails to achieve the minimum average total costs attainable at each level of output.

You might be interested in

The night before a midterm exam, you decide to go to the movies instead of studying for the exam. You score 60 percent on your e

Aleks [24]

Answer:

10% of exam score

Explanation:

Opportunity Cost is the cost of next best alternative, foregone (sacrifised) while making a choice.

Example : If a person has option to have an apple or an orange, & choses to have apple. The opportunity cost of having an apple is the sacrifised orange.

Given : A night before mid time exam, spent while watching movies - later lead to fall in exam grade from 70 % to 60%

The opportunity cost of movies watched, is the sacrifised grade of exam, which would have gotten, if the time would have spent in studying. The corresponding grade lost = 70% grade achievable - 60% grade achieved. Hence, the opportunity cost = 10% of exam score.

4 0

2 years ago

When the economy suffers a downturn and the incomes of many people decrease, vacationers are more likely to take car trips than

inysia [295]

Answer: Air travel is a normal good and vacation travel by car is an inferior good

Explanation: What is a normal good and what is an inferior good.

Normal goods are those goods for which the demand rises as consumer income rises. While inferior goods are goods whose demand increases when consumer income decreases.

This therefore means that the demand of inferior goods is inversely related to the income of the consumer.

From the question above, we can say that car trips are inferior goods while the air travel are normal goods.

3 0

3 years ago

Read 2 more answers

A couple has two children. They live in Missouri and have a combined annual income of $96,730. The couple has a mortgage, a car

Mashutka [201]

I'm going to guess, but i would say the best answer would be B. They could file for Chapter 7 bankruptcy and discharge most of their debt.

6 0

2 years ago

Graham Corp. has 1,000 cartons of oranges that were harvested at a cost of $30,400. The oranges can be sold as is for $36,400. T

Readme [11.4K]

Answer:

c. $3,600

Explanation:

The total cost of orange juice = $30,400 + $13,000

The total cost of orange juice = $43,400

So, the profit on the orange juice = $53,000 - $43,400 = $9,600

Profit when oranges are sold without juice = $36,400 - $30,400

Profit when oranges are sold without juice = $6,000

So, extra income = $$9,600 - $6,000 = $3,600

Thus, the net benefit (additional income) from processing the oranges into orange juice instead of selling as is would be is $3,600

5 0

2 years ago

While figuring out how to save money for a bride who is having financial problems, paula, the catering manager of oh happy day,

Bumek [7]

While figuring out how to save money for a bride who is having financial problems, Paula, the catering manager of Oh Happy Day, asked her assistant, "What do you think is the best menu to offer under these particular circumstances? How can we offer the bride and groom's guests a great meal within their budget?" Paula and her assistant are using the contingency approach.

True

5 0

3 years ago

Read 2 more answers