Answer:
<u>Break Even point </u>Q = 500000
<u>Shut Down Point </u> P < 5
Explanation:
<u>Break Even point</u> is where Total Revenue = Total Cost.
Total cost = 500000 + 5Q, price = 6 (Given) , Total revenue = Price x quantity
So, TR = TC implies : 500000 + 5Q = 6Q → 500000 = 6Q - 5Q
Q = 500000
<u>Shut Down Point </u>is where firm's Price is < its Average Variable Cost .
AVC is the variable cost on per unit output, is found out by average of variable component of cost function. C = 500000 + 5Q implies variable cost = 5Q , so AVC = 5Q / Q = 5
So, the firm would shut down if its price would go below AVC , ie if P < 5
Answer:
The answer is below
Explanation:
The technical and socio-cultural dimensions of project management are two sides of the same coin because while they are different, they serve the same purpose. Project managers need to possess and apply both skills to be successful in project management.
The technical dimensions of project management include stuff like the scope of work, time duration, resource allocation, etc. In contrast, the sociocultural dimensions of project management have organizations' cultures and values. Both of which are essential to a project management success
Answer: A country where minimum wage is set at 1% of median wage.
Explanation:
The minimum wage is the lowest income that employers can pay their employees.
The median wage is the midpoint of wages earned by workers in the society. Workers who earn median wage implies that half of the workers in the economy earn more than them and the remaining half less than them.
From the portions given, unemployment will mostly occur in a country where minimum wage is set at 1% of the median age. For example let's assume the median age is $10 per hour in the United States. This implies that minimum wage will be $0.1. Nobody will really want to work for an amount which is so low which in turn, leads to great unemployment.
The five foundations of trade are:
- incentives
- tradeoffs
- opportunity cost
- marginal thinking,
- principle that trade creates value.
<h3>Why do we engage in trade?</h3>
There are five main foundations of trade that are the reason why people engage in trade. One of them is the profit incentive to make money from trade. Another is the tradeoffs that people are forced to make to survive.
Opportunity cost also leads to trade because people give up one thing for another and so may have to sell the thing they gave up to receive the thing they want. There is also the principle which posits that when we trade, value is created. Finally, there is marginal thinking which is thinking along the lines of the benefit of one additional unit.
Find out more on the foundations of trade at brainly.com/question/2710473
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