Answer:
A firm shuts down in the long run when the price of the good it is producing falls below the minimum average total cost, because in the long run the firm wont be able to make any profit. In the short run the firm only shuts down if the the price of the good falls below the minimum average variable cost because in the short run the firm has already payed the fixed costs and these costs are sunk costs so if the price of the good is more than the variable cost then they can minimize their losses. So in this case the firm has a minimum average variable cost of $90 so the firm will shut down in the short term when the price falls below $90.
Explanation:
Based on the fact that the borrower was charged $412.50 on his balance of $60,000, the interest rate is 8.25%.
<h3>What is the interest rate?</h3>
The interest amount is monthly so the yearly amount is:
= 412.50 x 12
= $4,950
The borrower's interest rate is:
= 4,950 / 60,000 x 100%
= 8.25%
In conclusion, the borrower's interest rate is 8.25%.
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Answer:
Chasing money everyday.
Ignoring sleep.
Being connected too much to the internet or to someone.
Not exercising enough once in a while.
Being overconfident a little to much.
Explanation:
Answer:
Comparative advantage differs in that it takes into consideration the opportunity costs involved when choosing to manufacture multiple types of goods with limited resources.
Explanation:
The most tipycal example is the sustancial different between communist and capitalist economist in the 20th century
While the USSR and CHINA focus resources into specific areas like military, space program and other, the rest of the economy halved sustancially while the US and other OTAN members manage to acomplish the same amount of military or lower in some cases(USSR have more missiles and Atomic Boms than US), their economies thrived as their didn't renounce to the production of consumer good to make this.
Another example is the metal en road production While communist China used forced labor and thousand of people they manage to do more road than Europe but Europe used much less worker and thus, lower opportunity cost. and more of other goods could be produced.
