The long-run average total cost curve: will rise if diminishing returns are encountered. will fall if diminishing returns are encountered. will rise if economies of scale are incurred. is based on the assumption that all resources are variable. <u>The law of diminishing returns implies that marginal cost will rise as output increases</u>
<h3>What is
cost curve?</h3>
A cost curve in economics is a graph that shows the production costs as a function of the overall quantity produced. A cost curve is produced in a free market economy by productively efficient enterprises optimizing their production process by minimizing cost at each feasible level of production. Cost curves are used by profit-maximizing businesses to determine output levels. In addition to total and average cost curves, there are also marginal ("for each additional unit") cost curves, which are equal to the difference between total and average cost curves, and variable cost curves. Some apply in the near run while others do so in the long run.
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Answer:
The correct answer is letter "D": Glocalization
.
Explanation:
Glocalization is a combination of two words: <em>globalization </em>and <em>localization</em>. The term combined refers to companies with a global presence that adapt their products according to the culture of the area where they are. Usually, glocalization implies local advertisement to promote the familiarization of foreign among the local target customers.
Answer:
A) productivity and real GDP per person are both higher.
Explanation:
In the long run, an increase in savings will increase total investment. If total investment increases, then the productive capacity (productivity) and the aggregate supply should also increase. An increase in investment is the best way to guarantee a sustainable increase in aggregate demand without increasing the inflation rate.
When productivity increases, the real GDP per capita also increases.
Answer:
Section 16(b) of the 1934 Securities Exchange Act provides for recapture by the corporation of all profits realized by an insider from the purchase or sale of corporate stock within a 6 month period.
Explanation:
This section of the 1934 Securities Exchange Act was put in place to uphold fairness and equity in the financial markets. Without its provision, insiders could advantage of privileged information and exploit it for personal gain.
Answer:
If Aquataste sticks to the agreement, Waterland has an incentive to renege on the agreement by producing 350 gallons because Waterland’s profits would then increase from $375 to $525.
Explanation:
If Waterland and Aquataste both produce 250 gallons each and charge $1.50 per gallon.
There would be 500 gallons in total, and the total revenue would be
$1.50 × 500 = $750
which when shared equally between Waterland and Aquataste would result in each of them getting $375 each.
But if Aquataste sticks to the agreement, Waterland has an incentive to renege on the agreement by producing 350 gallons, still charging $1.50 and Waterland’s profits would then be
$1.50 × 350 = $525
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