If the LRATC curve is falling, economies of scale are present.
<h3>What is LRATC?</h3>
- A business indicator known as long-run average total cost (LRATC) shows the average cost per unit of output over a lengthy period of time when all inputs are assumed to be erratic and the production scale is flexible.
- The long-run average cost curve displays the long-run total cost of production at the lowest level of output.
- Because businesses can adjust major parts of their operations, like factories, over a lengthy period of time to attain maximum efficiency, long-term unit costs are typically lower than short-term unit costs.
- Identifying the lower boundaries of LRATC is a goal shared by investors and firm management.
- If the LRATC curve is falling, economies of scale are present.
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From the sun to the earth.
The still-face interaction paradigm
<span>An experimental task was introduced in 1978 to prove that infants actively contribute to social interaction. It is called the Still-Face Paradigm or SFP.</span>
<span>In the experiment, 3 phases of face-to-face interaction of infants with an adult were tested: the normal interaction, the still-face (where the adult becomes unresponsive and maintains a neutral facial expression), and a reunion where the adult resumes normal interaction.</span>
<span>Indeed, the still-face paradigm showed effects like increased gaze aversion and less smiling. </span>
Answer:
Yes, I agree.
Find explanation below.
Explanation:
The external environment of a business simply refers to the factors found outside the business which can have a profound effect on it. There are basically two types of external environments, namely;
1. The directly interactive which has a direct impact on the business. Examples include, business owners, the customers, contractors, and competitors.
2. Indirectly interactive whose impact on the business is not immediate. Examples include, the political , socio-cultural, economic influences among others.
Practical Examples:
1. Customers play a crucial role to the running of businesses. Managers must take care to listen to the concerns of the customers and attend to their needs urgently. For example, if a customer complains about his dissatisfaction with a style of service, managers should endeavor to address the concern to avoid losing the customer.
2.Political: Government rules and regulations have an impact on businesses because, not adhering to them could lead to sanctions and even closure of the business. Managers must ensure that they heed to and comply with governmental instructions, such as tax payment.
Answer:
Between 7.8 and 12 Years
Explanation:
The modified duration of a portfolio is defined as a weighted average in the modified duration of an individual bonds. Therefore it will lie between the extreme values of the modified duration of the bonds in portfolio so that the weights are all positive.
In the context, the modified duration lies between 7.8 years and 12 years as the modified duration would always lie between the lowest modified duration and the highest modified duration of any bonds in a portfolio. Therefore the weights are value that will lie between these two years.
