Answer:
The correct answer is C
Explanation:
Consumer products classification system is a system or a model which is presented in the most of the principles of marketing in the product mix. This model simplifies the consumer products into 4 categories.
So, the factor of marketing mix which will convenience product is the one which has the long channel of distribution, as it will help in reaching the product to the buyer.
Average total cost is minimized at 10 units of output.
As per the relationship between the two, at such a point average cost is the lowest and after that, from the next unit onwards it starts rising.
<h3>By marginal cost, what do you mean?</h3>
The term "marginal cost" describes the rise in manufacturing costs brought on by the creation of more product units. A different name for it is the marginal cost of production. Businesses may evaluate how volume produced affects cost and, eventually, profitability by calculating the marginal cost.
<h3>What does "total average cost" mean?</h3>
The average total cost is calculated by dividing the total cost of production by the total output. In other words, the average cost is the sum of the firm's total fixed and variable costs divided by the sum of the units it produces.
Learn more about marginal cost here:
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Answer:
Increases; higher
Explanation:
Skill-Biased Technology Change can be referred to as a shift in the production technology that takes preference of high skilled labour or workers over unskilled labour or workers.
This is achieved by increasing its relative productivity and, therefore, its relative demand.
Also, human capital is the accumulated knowledge (from education and experience), skills, and expertise. When education advancement reduces human capital reduces which at the long run reduces the number of skilled labours.
If there's a reduction in the number of skilled labours, then firms and organisations will be willing to pay huge sum of keep their available skilled labour and to hire new ones.
Answer:
<em>The elasticity of Yvette's labor supply is 2.67 and the value is greater than 1 so the wage range is elastic.</em>
Explanation:
The wage one is given as
= $35
The Quantity of time is given as 
=4 hours
The second wage is given as 
=$45
The quantity of time for second wage is 
=8 hours
So the calculation of elasticity is as
By replacing the values
So <em>The elasticity of Yvette's labor supply is 2.67 and the value is greater than 1 so the wage range is elastic.</em>
