Answer:
The correct answer is The firm's average cost of production remained unchanged over the last 100 units.
Explanation:
The minimum efficient scale is called the value of production for which the average long-term cost is minimal and also coincides with the marginal cost.
On the minimum efficient scale it is said that we are in the smallest possible production in which a long-term competitive company would be interested in producing. Below that value, the company would go into losses and should close.
The curve of long-term average costs is obtained from the envelope of the infinite possible curves of short-term average costs for different plant sizes, that is, for different levels of capital. From this envelope, a U-shaped average cost curve is obtained, at which minimum, precisely, the minimum efficient scale is found.
Answer:
$79,000
Explanation:
Given that,
Implicit cost and explicit costs are as follows:
Earning at Shoe Warehouse = $40,000 a year
Jake has rented a storefront = $40,000 per year
Spend = $11,000 on inventory
Total revenue = $170,000 per year
Therefore,
Economic profit = Total revenue - (Explicit cost + implicit costs)
= $170,000 - ($11,000 + $40,000 + $40,000)
= $170,000 - $91,000
= $79,000
Answer:
Yes. We have to agree that the employer has the upper hand.
This is mainly because it is the employer that hires the employees initially and decides how.much of a pay will be given.
However their can be times where the employee has the upper hand. If an employee is highly skilled and experienced and worked in the organization for a long time, they might have an upper hand. Also, when there are strict labor rules, this could give upper hand to the employees as well.
Explanation:
Answer:
False
Explanation:
Creative task performance represents the degree or extent to to which persons or employees come up with original, new and usual responses to task demands. That part of the question is true.
However, the false part is the unpredictability aspect because adaptive task performance is the type of performance which is also unusual, new and original but is at the very least unpredictable.
The question therefore combined the features of both creative and adaptive task performances. Therefore, the answer is false
The given statement is FALSE.
Explanation:
This is an example of adverse selection.
Adverse selection applies to a case in which the purchasers and distributors of the insurance policy don't have the same details at their fingertips. A typical definition of health insurance is where a person wants to learn if he is ill and in need of health coverage before paying for a health insurance package.
Examples of adverse selection in life insurance involve cases when a person with a high-risk career, such as a racing car driver or someone dealing with weapons, obtains a life insurance policy without the need for an insurance provider realizing that they have a risky position.
