Okay so rewards and penalties make people make better decisions. So like if I don't get questions wrong on a test I receive $5 from my parents, but if I fail a test I'm grounded for a week. So I study more to get money. (this is not actually me just making an example). Rewards make people want to do better, and so do penalties. I don't want to do bad and get punished for it.
For me ,I will not taking cash advance on my credit card
Production possibilities curve between the two goods will be a straight, downward-sloping line if the opportunity cost rise.
<h3>What is production possibilities curve?</h3>
The production possibilities curve serves as graph that display the relationship between the resources and the output that can be produced.
Therefore, when the opportunity cost that exists between two goods, there will be. downward slope as regards the production possibilities curve.
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Answer:
C. Step variable cost
Explanation:
Fixed costs are those costs which are incurred anyways irrespective of the level of operation of a business or the volume of activity. For example rent of factory is a fixed cost which has to be incurred regardless of the production level.
Variable costs are those costs which vary with the level of production. e.g labor cost.
In this case, a T- shirt is given to every 100th customer. This kind of cost is step cost at the level of 100th customer. The number of T-shirts in a day would depend upon the no of patrons arriving each day i.e variable.
Thus, this is the case of a step variable cost which is incurred at discrete point i.e every 100th customer.
Answer:
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