Answer:
The marginal cost of driving the car is $7.50 + the cost of gas.
Explanation:
Initial cost: $29.95
200 miles you drove- 150 miles free= 50 miles you have to pay for
50 miles * 15 cents per mile
50* 0.15= $7.5
<u><em>$7.50</em></u>
Answer:
Inbound logistics.
Explanation:
Value chain is the process in business which adds value to the product. The activities in value chain involves the manufacturing till the after sales service. The value chain activities are, Inbound logistics, operations, outbound logistics, marketing and sales, after sales. The process of collecting mature oranges is considered as inbound logistics in value chain.
Answer:
China's opportunity cost of producing 1 bottle of milk is equal to one batch of pumpkins.
Explanation:
Given that in 2 hours, China can produce 6 bottles of milk, and in 5 hours, it can produce 15 batches of pumpkins, to determine what is the country's opportunity cost of producing 1 bottle of milk (in terms of batches of pumpkins), the following calculation must be performed:
Milk = 6/2 = 3 per hour
Batches of pumpkins = 15/5 = 3 per hour
3/3 = 1
Therefore, China's opportunity cost of producing 1 bottle of milk is equal to 1 batch of pumpkins.
Answer:
What will be produced.
Explanation:
Consumer sovereignty is the theory that consumer preferences determine the production of goods and services. This means consumers can use their spending power as 'votes' for goods. In return, producers will respond to those preferences and produce those goods.
A competitive market system is one that involves many buyers and sellers. This is a system where the supply and demand for goods and services largely determines what is produced, how it's to be produced, how much is produced, how the output is to be distributed, and how the economy absorbs change.
