Answer:
b.if 100 units can be produced for $100, then 150 can be produced for $150, 200 for $200, and so forth.
Explanation:
Constant-cost means the cost of producing one unit of product does not change no matter how many products each firm in the industry decide to produce.
If the cost of production is $100 for 100 units, $150 for 150 units, $200 for 200 units and so forth, it means the unit production cost is a constant $1 regardless of the quantity to be produced.
Answer: Point B
If the demand increases suddenly because of a non-price determinant of demand, equilibrium point will shift to point B. At point B, the demand for mangoes increased from 4000 to 5000 pounds, and the price increased as well, from $5 to $6.
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The answer to your question is shaping
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Answer:
$1.07
Explanation:
The marginal cost measures the change in total cost of adding on more worker divided by the change in product for this additional worker (marginal product of labor). When adding one more worker, costs will increase by $80 (wage rate), while product will increase by 75. Therefore, the marginal cost is:
The marginal cost is $1.07.
