Answer:
However, Gilberto's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Gilberto lets them know how many workers he needs for each day of the week. In the short run, these workers are <u>VARIABLE</u> inputs, and the ovens <u>FIXED</u> inputs.
Explanation:
In the long run, all inputs are variable. E.g. in 5 years Gilberto might build his own pizza place and he will be able to make the kitchen as large as he wants.
But in the short run, some inputs are variable because they can be changed immediately, e.g. the number of workers changes on a weekly basis. While other inputs are fixed, and cannot be changed, e.g. Gilberto has a two yer lease contract for the ovens, so he will continue to use these ovens until the lease expires (in 2 years).
The long run and short doesn't depend on time, but on the ability of being able to change the inputs consumed by a business. The long run might represent 10 years for a company that signed a 10 year lease contract.
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Answer:
d) as a current liability
Explanation:
Current Liabilities are those liabilities which are payable within one years time e.g trade payable, tax payable etc.
The credit against the purchase of inventory is classified as the trade payable and it is paid in a short time, so it will be reported on the balance sheet in current liability section.
Answer:
a. $28
b. $19
c. 800 watches
Explanation:
The equation is
p = D(q) = 28 - 2.25
The equation of the demand would be
P = 28 - 2.25q
a. The price would be
= $28 - 2.25 × 0
= $28 - 0
= $28
b. The price would be
= $28 - 2.25 × 4
= $28 - 9
= $19
The quantity demanded is come in hundreds so we take only 4
c. The quantity woul dbe
$10 = $28 - 2.25q
$10 - $28 = -$2.25q
-$18 = -$2.25q
So q would be
= 800 watches
Answer:
Marginal utility of the additional units will turn negative
Explanation:
As total utility has reached a maximum level, adding additional units of the same product will generate the total utility to decrease thus, the marginal utility of this additional products is negative as they made the utility of the consumer to decrease.
The diminish return theory state that:
The units increase utility at a decreasing rate and then, they reach a maximum of utility afterwhihc, additional units do not generate utility, they decrease it