In some cases, supply curves are vertical, which means that for any price from 0 up to infinity, the quantity will stay the same.
This is very true for supply of an authentic painting in auctions, where there may only be 1 single painting, and people state the highest price they are willing to pay for the painting. Regardless of the price, there will only be 1 authentic painting for that price.
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As you are forming a team, it is important to bear in mind that Each member should have only 1 specialization. Jane serves to monitor & control the team processes.
In order to become more effective, specialization in business entails concentrating on a single product or a small range of products. Specialization can boost productivity and give a company or economy a competitive advantage.
When individuals and organizations focus on creating what they are proficient at, or even better, the best at, specialization occurs. For instance, KFC specializes in fried chicken and chicken hamburgers, whereas Starbucks specializes in serving uniform coffee.
If you specialize, you concentrate on a particular facet of a bigger subject. If you're a nurse, you might focus on giving care to infants and children as your area of specialization in pediatric care.
Learn more about specialization here
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Answer:
The options are wrong,find below correct multiple choices:
$605,000
$825,000
$655,000
$150,000
The correct option is $605,000
Explanation:
Explicit costs are costs incurred that require actual cash settlement not costs of alternative forgone as in the case of implicit costs.
There is only example of explicit cost for Harvey Business in the first year of operation,which is the cost of production,packaging,marketing,employee wages and benefits and rent on a building.
In other words,the explicit costs incurred in year one =$55*11,000 units
=$605,000
The correct option is the of those ones provided above.
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