Answer:
Both steaks include a "T"-shaped bone with meat on each side. Porterhouse steaks are cut from the rear end of the short loin and thus include more tenderloin steak, along with (on the other side of the bone) a large strip steak. T-bone steaks are cut closer to the front, and contain a smaller section of tenderloin.
The viability and relevance of insurance products usually cater the preference of the insurance buyer.
For example, some buyer want to make sure that they have a safe retirement so they tend to lean towards good individual retirement policy.
Some buyer want to make sure that his/her family is taken care of if something happens to them, so they tend to seek the product with highest life coverance, etc.
Answer:
Explanation:
To maximize profit, you would charge $8 for an adult's ticket and $4 for a child?s ticket. Total profit in this case would be $800.
The city council passes a law prohibiting you from charging different prices to different customers.
Now you set a price of $8 for all tickets, resulting in $600 in profit.
Indicate whether each of the following groups of people is better off, worse off, or the same because of the law prohibiting price discrimination.
Groups of People Better Off Worse Off Unchanged
Adults x
Children x
You, the Producer x
Suppose the fixed cost of the play were $2,600 rather than $2,000.
Complete the following sentences indicating how this would change your answers to the previous parts.
In the presence of price discrimination, the adult price of a ticket would remain the same, and the child price would remain the same. Total profit would fall to $200.
If price discrimination were banned and the monopolist continued to produce the play no matter what the profit, the price of a ticket would remain the same, and total profit would fall to $0.
As the slope of the production function becomes flatter as more capital is added, the marginal product of capital is "decreasing".
<h3>What is marginal product of capital?</h3>
The extra output that emerges from adding one unit of capital typically cash is known as the marginal product of capital.
This statistic frequently applies to start-up businesses that depend on private financing to get off the ground. The increased output brought on by adding a worker is known as the marginal product of labour.
- Diminishing marginal returns, the marginal product that starts to decline, is an indicator of this phenomenon.
- The value that these additional units offer to the organisation, in terms of output generated, starts to diminish because there aren't enough workers to operate with the extra equipment.
To know more about the importance of marginal product, here
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Two key components of corporate profitability are INDUSTRY STRUCTURE AND COMPETITIVE ADVANTAGE. Corporate profitability has to do with the economics indicators which calculate the net income of a company by making use of different measurement techniques. It is an effective tool which is used to give an overall overview of a company's performance.
