Answer:
2. Demand curves slope downward.
Explanation:
In a coordinate system, where the Y axis is the marginal utility, and the x axis is the quantity demanded, the demand curve will slope downward, because the first unit of the product demanded and consumed will produce the greatest marginal utility, and each subsequent unit demanded and consumed will produce less and less marginal utility.
In other words, the quantity demanded and consumed, and the marginal utility are inversely related, if one variable goes up, the other goes down, and viceversa.
The accounting profit of Jarod based on the information regarding rent, wages, etc given will be $55000.
It should be noted they the formula for calculating accounting profit will be:
= Total revenue - Explicit cost
Total revenue will be:
= $65 × 4000
= $260,000
Explicit cost is the direct cost that a business spends. This will be:
= $60000 + $120000 + $25000
= $205,000
Therefore, the accounting profit will be:
= $260000 - $205000
= $55,000
The accounting profit is $55000.
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Answer:
a. quality improvement, training, and customer satisfaction.
Explanation:
The full form of TQM is 'Total Quality Management'. It is defined as a management approach for a long term success that is achieve by the customer satisfaction. The main focus of the TQM process is to improve the quality of the output of the organization by improving the services of the organization, their products, processes and the work culture to provide customer satisfaction. It is dedicated in improving the quality, provide training and achieve customer satisfaction.
The stock of computers, factory buildings, and machine tools used to produce goods is known as <span>Physical Capital. It r</span><span>efers to a factor of production (or input into the process of production), such as machinery, buildings, or computers.</span>
Answer: True
Explanation:
The above statement is true. It should be noted that companies or organizations that contract manufacturing abroad are usually being subject to watchdog groups and also, they're expected to be socially responsible when they partner with the low cost labor manufacturers that are based abroad. The companies also make ethical decisions.
Therefore, the statement is true.