Answer:
The correct answer is option b.
Explanation:
Economies of scale refer to the reduction in the average cost of production as the quantity of output produced increases. In the production process, there is some fixed and variable cost involved.
The average cost of production is the ratio of the total cost incurred in the process of production and the level of output. It is the cost of producing each unit of output.
The producers can reduce their cost of production through the division of labor and specialization.
Answer:
Simple interest is paid only on the original amount borrowed.
<span>The policy owner of an adjustable life insurance policy wants to increase the death benefit which can be increased when you can prove insurability. A death benefit is what is paid to someone known as a beneficiary if an insured person dies. When you have insurance you set up an individual or list of individuals that are able to collect on your behalf if you die while insured. </span>
The planter class was a socio-economic caste that dominated the agricultural markets of 17th and 18th century. They hired African-slave labor to work on their agricultural fields. They hired cheap and inexpensive slaves to make them work on the fields of tobacco and many other crops. Planters considered themselves to be of the superior race.
The poor southern whites support the institution of slavery because believed that the African-Americans were of a inferior race and the Planters were of the superior race. The southern whites were racist in nature and that made them feel as if slavery was justified.
<h3>Who are racists?</h3>
- People who believe that some castes are superior than other race are racists. They are often the people who are prejudiced against certain races.
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