Answer:
Profit= $1600
The profit which firm is generating is $1600.
Explanation:
Formula:
Profit= Total Selling Cost- Total Actual Cost
Profit= (Price at which unit is sold*Number of units) - (Average cost*Number of units)
In our case:
Number of units=800 units
Price= $6
Average cost= $4
Profit= ($6*800) - ($4*800)
Profit= ($4800) - ($3200)
Profit= $1600
The profit which firm is generating is $1600.
Answer:
= A fall in the cost of production
Explanation:
= A fall in the cost of production= A fall in the cost of production= A fall in the cost of production
Making a profit by lending money is usury, and the person who is doing it is called a usurer.
A professional sports team that earns more annual revenue than a small-market team is a big market team. This is further explained below.
<h3>What is a big market team?</h3>
Generally, a big market team is simply defined as Playing for a "big market" team usually means getting a lot more attention than you would if you were on a "small market."
In conclusion, big-market sporting teams have yearly revenues that are higher than those of smaller teams.
Read more about the big market team
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Answer: Option (D) is correct.
Explanation:
Correct: The country’s production possibilities curve will shift out.
The production possibility frontier shows different combination of two goods that are to be produced with the available resources. It also shows the point on the curve which represents the efficient level of quantity to be produced.
So, if there is any improvement in the factors such as technology advancement and level of education will generally results in higher economic growth and increase in the level of output.
Hence, there is an outward shift in the production possibility frontier.
