Answer: This chart demonstrates that the marginal cost initially decreases as production increases.
Marginal Cost refers to the cost of producing an additional unit of a good. As production increases, marginal costs will initially decrease.
In the short run, factors of production like capital are fixed. Only labor is variable and varies with the number of units produced. Initially, employing more labor results in better productivity and help in decreasing the marginal costs. However, as more units of labor are employed, labor become less productive and the law of diminishing marginal returns sets in. Hence the marginal cost curve begins to rise.
Answer:
See explanation below.
Explanation:
a. Opportunity cost is a term in economic, which is used to express cost, in terms of forgone alternatives.
For this landowner , the opportunity , or implicit cost of growing corn is $148,000 [$400 per acre × 370 acres] from renting the land.
b. The opportunity cost or implicit cost of growing soya beans is $148,000 [$400 × 370 acres] from renting the land.
c. The landowner maximizes economic surplus by renting the land.
The values statement of a company is one that necessitates attending to customers with quality & value and treating others as they want to be treated.
<h3>What is a
values statement?</h3>
In a firm, a values statement refers to an established core principles that guides the direction of the organization and its culture.
In conclusion, an organization value statement are compulsorily adopted by employees and manager bacause it is expected to guides their decision-making.
Read more about values statement
<em>brainly.com/question/14595106</em>
Answer: D. Support department cost allocations should be incorporated into a product costing system.
Explanation:Support departments provide essential support services for producing departments and by this the support department costs are part of the total product costs and must be assigned to the products through cost allocation from support departments to producing departments.
All manufacturing costs, direct and indirect must be assigned to the products produced to meet GAAP requirements.
The cost allocation method to use can be: a single charging rate, dual charging rate or allocation of costs.
Answer:
pre-production stage
Explanation:
Based on the information provided within the question it seems that Juan is working in the pre-production stage. This is the stage in which individuals/groups work on a product, by preparing all the different pieces or departments before the full-scale production begins. This stage focuses on all the pieces that are needed together during the full-scale production.
