Answer:
see below
Explanation:
a. What you give up for taking some action is called the <u>opportunity cost. </u>
b. <u>Average total cost</u> is falling when marginal cost is below it and rising when marginal cost is above it.
c. A cost that does not depend on the quantity produced is a <u>fixed cost.</u>
d. In the ice-cream industry in the short run <u>variable costs</u> includes the cost of cream and sugar but not the cost of the factory.
e. Profits equal total revenue minus <u>total costs.</u>
f. The cost of producing an extra unit of output is the <u>marginanal cost.</u>
Answer:
True
Explanation:
There are two types of annuity, ordinary annuity and annuity due.
The ordinary annuity is calculated as:
Future Value = 
Whereas Future Value of annuity due is calculated as:
Future Value = (1 + i) 
That is (1+i) Future Value of ordinary annuity.
Therefore, the provided statement is true.
The three stances are the neutral fiscal stance, which occurs when the budget is well balanced and the economy is in equilibrium; then there's the<span> expansionary fiscal stance in which the spending exceeds tax revenues, which occurs usually during hard periods such as recessions; and the final stance is </span><span>the contractionary fiscal stance, in which the government spends less than what the tax revenue is. </span>
Answer:
$14.71
Explanation:
Each veggiburger costs $3.25, the salad costs $2.50, the fries cost $1.50 and each coffee costs $0.90.
Your total bill without taxes or tips = $6.50 + $2.50 + $1.50 + $1.80 = $12.30
If we add the 4% our total increases to = $12.30 x 1.04 = $12.79
Generally I tip on the taxes, so the total bill including taxes and tip = $12.79 x 1.15 = $14.71
Answer:
True
Explanation:
Exceptionally good weather will guarantee a good yield in crops. This will lead to an increase in supply of produce to the market, and when supply increases, the supply curve shifts to the right.
This is simply because there are more products and more sellers, and this will result in more supply.
