A consumer will respond to the price change in such a way that it could express it marginal utility
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: Antitrust law
Explanation:
The Clayton Antitrust Act of 1914, was a part of the United States antitrust law with the aim of adding further substance to the United States antitrust law regime.
The Clayton Act was to prevent anticompetitive practices. It was enacted in 1914 with the objective of strengthening Sherman Antitrust Act. When Sherman Act was enacted in 1890, the regulators realized that that the act had some weaknesses which made it impossible to prevent anti-competitive practices in businesses so the Clayton Act addressed the issue.
Answer:
-0.11% a year
Explanation:
Susan's real interest rate is the nominal rate of her investment subtracted by the percentage increase in CPI.
The percentage increase in CPI for 2005 was:
Therefore, Susan's real interest rate (i) was:
The three methods of calculating balance charges on credit cards are:
- average daily balance method (excluding and including newly billed purchases.
<h3>How can we calculate a credit card balance ?</h3>
Calculation of the credit balance can be done generally by dividing the average daily balance totals by the total number of days in the billing cycle.
Then the result is then multiplied by the monthly interest rate, however all the listed method can as well be used.
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