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In short, the central bank is the main federal bank that controls the money and gives it to other banks. More about it is here: https://en.wikipedia.org/wiki/Central_bank
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Explanation:
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Marginal benefit is the change in total benefit when consumption is increased by one unit
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Answer:
A) total cost = (200 labor hours x $20) + (500 units of raw materials x $8) + $4,000 cost of capital = $12,000
average total cost per unit = $12,000 / 2,000 units = $6 per unit
B) new total cost = (100 labor hours x $20) + (500 units of raw materials x $8) + $4,000 cost of capital = $2,000 + $4,000 + $4,000 = $10,000
average total cost per unit = $10,000 / 3,000 units = $3.33 per unit
C) When process innovation occurs, total productivity and efficiency increase, decreasing the average cost per unit. In this case the total cos decrease, but even if total costs do not decrease, higher efficiency and productivity can be achieved by production more units at the same total costs. Process innovations, usually related to new technologies, are responsible for the greatest increases in productivity and efficiency which result in higher economic output and growth.
<span>The general term for these sort of groups would be organizations, clubs, or parties. In relation to governmental operations they would be referred to as political parties.</span>
