In economics, the principle of absolute advantage refers to the ability of a party to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources.
hope it helps
Donald Trump won the election because he received more votes than Hillary Clinton. I hope this helps! :)
Answer:
Marginal Benefit = 7,6,5,4,3,2,1 .
Optimal Equilibrium = 4 units of consumption
Explanation:
Marginal Benefit is addition to total benefit when an additional unit is consumed.
Marginal Benefit = Total Benefit @ n - Total Benefit @ n-1
MB = 15-8 = 7
21- 15 = 6
26 - 21 = 5
30 - 26 = 4
33 - 30 = 3
35 - 33 = 2
36 - 35 = 1
Optimal Equilibium is where Marginal Benefit = Price . Such because : before that - MB > Price , increasing consumption is better for consumer. MB< Price , decreasing consumption is better for consumer.
In this case : Price i.e $4 = MB 4 at 4th gallon . So , this is optimal equilibrium.
Answer:
$6.40
Explanation:
In this case, the predetermined overhead rate is calculated by dividing total manufacturing overhead expense by the total number of direct labor hours. The overhead expense is divided in two: fixed and variable. Predetermined variable overhead expense is $2.80 and predetermined fixed overhead expense = $36,000 / 10,000 direct labor hours = $3.60.
So the total predetermined overhead rate = $2.80 + $3.60 = $6.40
When an individual wants to buy goods and services for personal or household use, they can go to a <u>Consumer Market. </u>
<u />
<h3>What is a consumer market?</h3>
This is a market where final goods and services are sold to consumers for their personal or household use.
Such a market includes all those who sell directly to consumers such as retailers, and food markets.
Find out more on consumer markets at brainly.com/question/1310911.