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Answer:
A. The demand curve shifts to the left
Explanation:
Bread and butter are compliment goods. They offer the consumer a high utility when consumed together. An increase in demand for bread will increase the demand for butter. Changes in the price of bread will affect the demand for butter.
An increase in the price of bread leads to a decrease in demand. Reduction in bread demand means that butter consumption will decline as there will be less bread to apply butter. A decrease in demand will prompt the demand curve to shift inwards.
Answer:
Average fixed cost for 20 units = $7
Explanation:
<em>The fixed costs are cost are expenditures that do not vary with the activity level within a given range. Unlike variable costs, fixed costs are tend to be unaffected in the short run by amount of production work done or service rendered.</em>
The units produced will not have an impact on the total fixed costs but rather on the average fixed cost. The average fixed cost would become lower as the units produced increases.
Average fixed cost = Total fixed cost / Total units produced.
Hence , Total fixed cost = Average fixed cost × units produced
DATA
AFC - $14
Units - 10 units
Total fixed cost = 10 × 14 = $140
Average fixed cost for 20 units =Total fixed cost / Number of units
140/20 = $7
Average fixed cost for 20 units = $7
The level of each variable measured is (1) the type of credit card is Nominal variable or a categorical variable which comes under multiple categories.(2) the amount (in dollars) of each purchase is ration variable it can have both discrete it starts at a fixed zero point.
Explanation:
- There are four levels of measurement, while analyzing data of columns.
- Nominal,Ordinal, Interval and ratio.
- Nominal each row of that particular column has specific identification.
- Nominal can have classification race,gender,ethnicity.
- Ordinal data is based on the ranking system, order or list.
- Numbers are still used arbitrary.
- Interval distance between the numbers Celsius,Fahrenheit and kelvin.
- Ratio data has an absolute zero point non-arbitrary, It is measuring .
- Blood pressure is a common example of ratio data.
Answer:
The answer is economies of scale .
Explanation:
Government license, patents and public franchise are all forms of legal barriers that prevents new entrants from copying, imitating or entering the market. However, economies of scales are a economic barrier that arises due to the scale of operations of a firm and is not a legal barrier.
