Answer:
its fixed costs but not its variable costs.
Explanation:
Fixed costs are costs that do not vary with output. e,g, rent, mortgage payments
If production is zero or if production is a million, Mortgage payments do not change - it remains the same no matter the level of output.
Hourly wage costs and payments for production inputs are variable costs
Variable costs are costs that vary with production
If a producer decides not to produce any output, there would be no need to hire labour and thus no need to pay hourly wages.
When a firm that shuts down temporarily, the firm would still have to pay expenses such as rent and electricity bills. These constitute fixed cost. But the firm would not have to pay variable costs e.g. the cost of buying raw materials used in variation.
On the other hand, if the firm shuts down permanently, it would not pay both its variable costs and its fixed costs
Answer: social requirements
Explanation: In simple words, social requirements refers to the steps and precautions that a firm should take for operating their business efficiently in an environment.
The Indian community consist of a large number of vegetarians having religious sentiments that do not allow them to eat non veg. Thus, it is necessary for the firm to properly communicate them the presence of animal based ingredients in the product.
Answer:
The correct answer is: the additional product generated by additional units of an input will eventually diminish.
Explanation:
The law of diminishing marginal returns states that with each additional unit of input employed the marginal product of each additional input will go on declining.
This is why the total product will increase at first but after reaching a certain point it will start declining. The total product will be maximum at the point where the marginal product is zero. When marginal product becomes negative the total product will decline.
I think the most appropriate answer would be "a car dealership salesman" would be the opportunity cost.
I hope it helped you!
