Answer:
C. the MC curve passes through the minimum point of the ATC curve.
Explanation:
Marginal cost is the cost of producing additional unit, it is upward sloping as generally the cost that is additional as it tends to increase with increase in output.
Whereas Average Total Cost is a U shaped curve, it basically starts from a high point and then tends to decrease as the increase in number of units with constant fixed cost tends to decrease the average, but ultimately after it reaches its lowest point it tends to increase because now to produce units, there is extra cost required.
The Marginal Cost Curve touches the Average Total Cost curve at its lowest.
Answer:
False
Explanation:
The government sector derives its main incomes from taxes.
<u>Answer:
</u>
By implementing the food safety compliance policy, the food company would only make sure that the food they have given is safely consumable, but by putting consumer safety first, the companies would go beyond the attempts to avoid fine and take special measures to ensure true safety of the consumers.
<u>Explanation:
</u>
- Though the Food and Drug Administration of the United States bears the responsibility of food safety and is accountable towards both, the public and the government, it would not be possible without the cooperation of the food companies to ensure utter food safety for the public.
- With stringent supervision and the companies sticking to the norms and regulations put by the supervising agencies, it would be possible to eradicate the problems caused by food contamination.
Answer: b. (200 airplanes, 12,500 cars) and (150 airplanes, 15,000 cars)
Explanation:
The opportunity cost of an airplane is 50 cars. This means that if the number of planes produced were reduced by 50, the number of cars should increase by:
= 50 * 50
= 2,500 cars.
In option B, the airplanes were 200 and then reduced by 50 to 150. This led to an increase in cars of:
= 15,000 - 12,500
= 2,500 cars
Option B therefore satisfies the constraints and is correct.
