Answer:
a) Learning Costs Curve:
Quantity Marginal Total Cost ($) Average Cost (Units)
Cost ($) ($/unit)
1 $76 $76 $76
2 $70 $146 $73
3 $64 $210 $70
4 $58 $268 $67
5 $52 $320 $64
6 $46 $366 $61
b) For a request for proposal for two units, the break-even price for the two units is $146 ($73 per unit).
c) For two more units, the break-even price for them alone is $122 ($268 - $146). Each unit's break-even price will be $61 ($122/2).
Explanation:
a) A break-even price is a price that is equal to the total cost. At break-even, there is no profit and there is no loss. The total cost equals total revenue.
b) The learning cost curve shows how the "marginal cost decreases as a result of an increase in production by one unit." This curve can be illustrated graphically to show how the marginal and average costs reduce as a result of the increase in the quantity produced.
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Ostensible agency is a form of implied agency relationship created by the actions of the parties involved rather than by written agreement.
Given that the implied agency relationship is created by the actions of the parties involved rather than by written agreement.
We are required to give the name of such implied relationship that is created by the actions of the parties involved rather than by written agreement.
The “ostensible agent” is basically one where the principal has intentionally or inadvertently induced third persons to believe that such person was its agent although no actual or express authority was conferred on him as agent. In this kind of relationship the agent has been given authority to act on the behalf of other.
Hence ostensible agency is a form of implied agency relationship created by the actions of the parties involved rather than by written agreement.
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