Economic theory and the data in the table show that the average total cost curve and the marginal cost curve are related in that the MC curve passes through the minimum point of the ATC curve.
<h3>What is the relationship between the MC and ATC curves?</h3><h3 />
The data given by the table (which is accurately filled up) shows that the MC curve will intersect the ATC curve at its lowest point.
We see this from the fact that before the lowest ATC of 0.107, the marginal cost was less than the ATC. After the lowest ATC however, the marginal cost becomes higher than the ATC.
This shows that the MC curve intersected the ATC at its lowest point of 0.107 and then kept rising above it.
Find out more on the MC curve at brainly.com/question/9335427.
Answer:
A.$12,000
B.$8000
C.MRPL/PL = 3
MRPK/PK =2
D) Since each of the above calculated ratios are more than one, therefore adding additional worker or tractor will increase the total revenue for each of the dollar spent.
Explanation:
(a) The Marginal Revenue Product of Labor (MRPL) can said to be the additional revenue generated when an additional worker is employed.
$66,000 - $54,000 = $12,000
Thus, MRPL is 12,000
b) Marginal revenue product of capital is
( 62000 - 54000)= $8000
c) MRPL/PL = 12000/ 4000= 3
MRPK/PK = 8000/4000=2
Therefore Since these two ratios are not equal it means the firm is not using the least cost combination of inputs.
d) Since each of the above calculated ratios are more than one, therefore adding additional worker or tractor will increase the total revenue for each of the dollar spent.
Answer:
Positioning
Explanation:
This has to do with arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the mind of target consumers.
Answer:
$400
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
Inventory grew by (200 - 100) $100
$50 of value was created
total gdp = $100 + $250 + 50 = $400
These are payment terms in the accounting. The first term 2/10 means that if you can pay the amount after 10 days, you would be given a 2% discount. If not, that's what the second terms means. This means you have to pay the net or full amount within 30 days.
So, if he can pay within 10 days, he will only have to give $3214.4. If not, then he would have to pay $3280 within 30 days.
