Answer:
$650,000
Explanation:
The total cost of a company may be grouped into fixed and variable cost. The fixed cost remains constant at a given range of activity levels while the variable cost increases proportionately as the level of activities.
The total variable cost is the product of the unit variable cost and the number of units produced.
Hence, total cost in 2011
= $500,000 + $150,000
= $650,000
2nd step is the correct answer:(
Answer:
(i) since otherwise resources are idle.
(ii) since it would be impossible to produce more of one thing without producing less of another.
Explanation:
When an economy has reached productive efficiency, all resources are being fully utilized such that if the country wants to produce more of one good, they would have to produce less of another.
It is important that a country achieves this level because it would mean that no resource is being left idle and there is no under-performance in the economy.
A stock market is also known as a stock exchange.