Answer:
a. opportunity cost principle, the length of the movie does not matter as long as watching a movie is the best way to spend your time compared to other alternatives.
Explanation:
In the given case since it is mentioned that longer movies would be more better as compared with the shorter movies also the price for the both would be the same so here the opportunity cost principle is applied i.e. the movie length is not relevant here as it is considered to spend your time by watching a movie
So the first option is correct
Answer:
d. The firm will minimize its losses by shutting down.
Explanation:
The price multiplied the number of output is the revenue, which is less than the total cost as in this scenario. So this company is always lost.
Lost = number units x (cost – price)
The lost is as high as the number of unit produced.
Given the company do not have any room to improve the profit as it’s producing the profit-maximizing level of output; it’s the best for this firm to shut down.
Answer:
<h2>In the case of a linear downward sloping demand curve,the price elasticity of demand is elastic in the upper portion and increasingly inelastic in the lower portion.Hence,the answer in this case would be option A.</h2>
Explanation:
- Based on the common consumer psychology,any rational consumer or buyer is relatively more responsive or reactive to any certain change in market price of any normal good or service during the initial stages of purchase or consumption.
- Hence,during the initial consumption phase,if the market price of any good or service changes by a certain proportion,then consumer demand for that product or service would also change in significant or considerable proportion.
- However,as the rational consumer or buyer increases its consumption level of any good or service as its market price decreases progressively,he or she becomes increasingly insensitive or unresponsive towards the change or further decrease in its market price.
- This phenomenon can be conceptually attributed to the law of diminishing marginal utility of any normal good or service which evidently advocates that as the individual consumer or buyer consumes more of any particular good or service,the additional or incremental consumer satisfaction or utility obtained from 1 more unit purchase of that particular good or services decreases progressively.In other words,the marginal utility of the consumer or buyers falls increasingly as the consumption level of any good or services increases.
- Hence,the market value of any product or service also declines as the consumption level of any good or services increases thereby making the consumers or buyers increasingly unresponsive or non reactive as its market price decreases especially towards the later or subsequent stages of consumption or purchase.
The market environments made up of consumers and companies is the traditional marketplace, and the other is the marketspace.
<h3 /><h3>What is the marketplace?</h3>
Corresponds to the market where exchanges, transactions and negotiations of products and services between individuals and organizations are carried out.
Therefore, through the marketplace and marketspace, economic transactions are carried out and determined by the law of supply and demand.
Find out more about marketplace here:
brainly.com/question/25689913
Answer:
Total number of equivalent units= 100,000
Explanation:
Giving the following information:
A total of 90,000 were finished during the period and 25,000 remaining in Work in Process inventory were 40% complete with respect to direct labor at the end of the period.
Weighted-average method:
Units completed= 90,000
Ending inventory= 25,000*0.4= 10,000
Total number of equivalent units= 100,000
