Answer:
Explanation: Both the marginal cost curve and the average variable cost curve are U-shaped. For many firms, this is true because their production exhibits increasing returns at low levels of output and decreasing returns at high levels of output. At the minimum of average cost, the marginal cost curve intersects the average cost curve. This is because when marginal cost is above average cost, average cost is decreasing and when marginal cost is below average cost, average cost is decreasing.
Answer:
C. $142.50
Explanation:
From the existing contract,
200 units for $10 each
150 units were delivered so, 10 x 150= $1500.
The customer wants to extend the contract for additional 100 units at $9.50 each.
So,what is the revenue to Harold Corporation for these additional units which cost $9.50 for the next 15 units.
Therefore, 15 x 9.50= $142.504
The answer is a tape measure. <span>A </span>tape measure or measuring tape<span> is a flexible ruler and used to </span>measure<span> distance. It consists of a ribbon of cloth, plastic, fiber glass, or metal strip with linear-</span>measurement<span> markings.</span>
Answer:
D) Quantity sold rose while the effect on price is ambiguous.
Explanation:
Two separate things happened here;
- Change in consumer habits have shifted the the demand curve to the right, increasing the quantity demanded at every price level.
- Better technology and lower costs have also shifted the supply curve to the right, increasing the quantity supplied at every price level.
One thing is certain, the quantity demanded and supplied increased, so the total quantity sold definitely increased. The price issue is not certain because you would need additional information about which shift was larger, the shift of the supply curve or the demand curve.
