<u>In </u><u>microeconomics</u><u>, the term </u><u>monopoly</u><u> is synonymous with decreasing returns of scale.</u>
When there are economies of scale in production?
As output increases, the long-run average total cost decreases. The total variable cost of creating five units of output is indicated by the Y-interval between the two curves in the diagram.
Is price and marginal cost equal?
- In economics, the practice of setting a product's price to cover the additional expense of producing an additional unit of output is known as marginal cost pricing.
- This policy limits the producer's ability to charge for each unit of a product sold to the addition to total cost attributable to materials and direct labor.
Simply put, what is microeconomics?
- Microeconomics is the study of how people, households, and businesses make decisions and distribute resources.
- It generally pertains to markets for goods and services and addresses both personal and financial concerns.
Learn more about microeconomics
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Answer:
The transaction costs associated with this exchange are $155
Explanation:
The computation of the transaction cost which is associated with this exchange is shown below:
= Ad charges in the newspaper + law firm write up charges
= $60 + $95
= $155
It includes various cost like - transportation cost, legal fees, communication charges, etc.
The installation of Beth's new roof is not considered in the computation part because it is not an exchange transaction cost. So, this cost is ignored.
Answer:
Myron gains, while the bank loses.
Explanation:
Fallen in prices is usually cause by deflation i.e a general decrease in the prices of goods and services which enhances the purchasing power of money.
In this case, 5% fall in price will increase the value of the Myron investment with bank and caused bank more money .
The period of time between receiving a client order and shipping the finished items to the customer is referred to as the delivery cycle time.
When it comes to measuring internal business performance, delivery cycle time is regarded as a very crucial statistic. It is defined as the period of time between the moment an order is received and the time it is actually sent.
This usually plays a significant role for both organizations and customers because prompt order processing is a skill that almost all firms and customers tend to value.
In a similar vein, it can be seen that quicker delivery cycles can also serve as a possible competitive advantage for the business and, in most situations, are essential to their existence.
To know more about delivery cycle time.
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The correct answer for this statement would be TRUE. In the Operational Risk Management or ORM, this involves the careful decision making and should be systematic when managing hazards that endanger naval resources and one of the steps is implement controls which include engineering c<span>ontrols, administrative controls, and personal protective equipment. Hope this helps.</span>
