If the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there (B) are constant returns to scale.
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What is the long-run average total cost curve?</h3>
- The long-run average cost (LRAC) curve depicts the firm's lowest cost per unit at each output level, assuming that all production parameters are changeable.
- The LRAC curve presupposes that the firm has determined the best factor mix for creating any amount of production, as discussed in the previous section.
- To derive the long-run total cost function, we take the expansion path's total cost and quantity pairs.
- "When all factors of production are variable, the long-run total cost function displays the lowest total cost of generating each amount."
- If a firm's long-run average total cost curve is horizontal in a relevant production range, it shows that there are consistent returns to scale.
As the description states, if a firm's long-run average total cost curve is horizontal in a relevant production range, it shows that there are consistent returns to scale.
Therefore, if the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there (B) are constant returns to scale.
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Complete question:
If the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there
A. isn't a minimum efficiency scale.
B. are constant returns to scale.
C. are diseconomies of scale.
D. are economies of scale.
Answer:
A. Deductible Amount = $125
This is because legal advice is fully deductible while there are no deductions available for fines.
B. Deductible Amount = $ 795
This is because the amount used in reserving parking is fully deductible, while the amount for ticket for her children is personal and hence doesnt fall under deductibles.
C. Deductible Amounts = $0
For all and any political purpose, deductibles doesnt apply. Whether it is in form of cash or kind. Hence, there is no deductions in this case.
Answer:
(D) These cultures are perceived to be more flexible and far-sighted corporate environments.
Explanation:
A corporation that operates as a value-based organization, is a corporation that operates on a culture that was shaped by the members of the organization, from employees to shareholders, and thus tends to be more flexible in how they operate compared to traditional corporation structures. Employees are committed to these types of organizations because they find alignment between their personal values and the values of the organizations, which in turn lead to better overall performance.
Could you include the answers?
Answer:
For people, it opens up a world of opportunities, reduces the burden of disease and poverty, and gives greater voice in society. For nations, it opens doors to economic and social prosperity, spurred by a dynamic workforce and well –informed citizenry able to compete and cooperate in the global arena
