The movement from point B to point A is due to the price that companies can charge for the product decreases. Therefore the 3rd option is correct.
<h3>What is supply?</h3>
Supply is the economic concept which refers to the availability of the products and commodities in the market in order to satisfy the needs of the consumers.
According to the Graph, The prices of the commodity is decreased from $20 to $5 and output is also decreased from 200 units to 100 units which implies the decrease in the prices of the product which further implies the decrease in the level of supply.
Therefore the 3rd option is correct.
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Answer: The correct answer is the center of gravity approach.
Explanation: The center of gravity approach is a distance-based method for location alternatives evaluation. This method is an approach that seeks to compute geographic coordinates for a potential single new facility that will minimize costs.
Answer:
B. $34,000; -$1,000
Explanation:
Accounting profit equals total revenue minus explicit costs. Here,
$50,000 - $12,000 - $1,000 - $3,000 = $34,000.
Economic profit equals total revenue minus the sum of both explicit and implicit costs. Here,
$50,000 - $12,000 - $1,000 - $3,000 - $35,000 = -$1,000
Answer:
The correct answer is option C.
Explanation:
The law of diminishing marginal utility means that keeping other things at constant the marginal utility derived from the consumption of a commodity goes on declining with each additional unit of the commodity.
So, the marginal utility from the first unit will be highest, that from second unit will be lesser, that from third even lower and so on.
In the examples given above, Wesly's case is most applicable to this.
So, option C is the correct answer.
Answer:
The answer is B.
Explanation:
Total variable cost always increases as output(unit of production) increases. And it also decreases with decreasing output(unit of production).
Variable cost is different from fixed cost in that it changes with output.