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:
Explanation:
Assume the <em>cost</em> equation to be:
Where 
is the number of units (wooden baseball bats) produced.
The <em>average cost per unit of production level</em> is the total cost divided by the number of units produced:
You are given that the <em>average cost per unit of a production level of 7,700 bats is $14</em>, then:
You are also given that the <em>fixed costs</em> are <em>$22,500</em>, thus A = 22,500. Hence, you can substitute the value of A in the previous equation and find B:
Now you can complete the cost equation:
And to predict the total costs for 8,600 bats you must subsitute x with 8,600 in the previous equation:
Answer:
The answer is E.
Explanation:
Given the information about the airline company Northern Air and their problem with Belleville airport, when we evaluate the options for any disadvantages for Northern Air we can say that;
Option A, being able to schedule flights without stopping for refueling is completely an advantage for Nothern Air.
Option B, the decline of the cost of aviation fuel over the next several years can only cause a problem if the amount they will save from their fuel costs and other costs are going to exceed the amount that will be spent on the Skybuses.
Option C, several mechanics losing their jobs is certainly not the most serious disadvantage Northern Air is going to have from this action.
Option D, the fact that none of Northern Air's competitors in the Belleville Airport are buying Skybuses is not a disadvantage for Northern Air.
Option E, the aerodynamic of the Skybus causing turbulence and therefore leading the delay for the take-off could be a serious disadvantage because of its affects to the company's strict flight schedules.
I hope this answer helps.
Answer:
The correct answer is letter "D": set aside any award.
Explanation:
Arbitrators are individuals without the range of judges that are called in disputes to resolve a matter before taking it to court. Similar to trials, each party involved in the dispute present their defense in front of the arbitrator who promotes the mutual agreement between the two parties but, if that does not happen, the arbitrator provides a resolution that tends to be definite.
<em>Arbitrators must be impartial. Thus, if the arbitrator meets with one of the parties and, eventually, the decision of that case favors that party, the court can take away any reward provided until an investigation is conducted.</em>
Answer:
1. Price ceiling, Binding
2. Price ceiling, Binding
3. Price floor, binding
Explanation:
Price ceiling is a government or group control limit on how high a product, commodity or service can be charged.
Price floor is a government or group limit on how low a product, commodity or service can be charged.
Binding simply means you are legally bound to something while non-binding means you are not legally bound to it.
