If the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there (B) are constant returns to scale.
<h3>
What is the long-run average total cost curve?</h3>
- The long-run average cost (LRAC) curve depicts the firm's lowest cost per unit at each output level, assuming that all production parameters are changeable.
- The LRAC curve presupposes that the firm has determined the best factor mix for creating any amount of production, as discussed in the previous section.
- To derive the long-run total cost function, we take the expansion path's total cost and quantity pairs.
- "When all factors of production are variable, the long-run total cost function displays the lowest total cost of generating each amount."
- If a firm's long-run average total cost curve is horizontal in a relevant production range, it shows that there are consistent returns to scale.
As the description states, if a firm's long-run average total cost curve is horizontal in a relevant production range, it shows that there are consistent returns to scale.
Therefore, if the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there (B) are constant returns to scale.
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Complete question:
If the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there
A. isn't a minimum efficiency scale.
B. are constant returns to scale.
C. are diseconomies of scale.
D. are economies of scale.
The combination of product lines offered by a manufacturer is called the firm's product mix.
<h3>What is a product mix strategy?</h3>
The total number of product lines and distinct goods or services that a business offers is its product mix. Alternatively known as product portfolio or product assortment. Product combinations differ amongst businesses.
Four main product mix strategies are as follows:
- Expansion: A business adds more product lines or product depth (i.e., varieties) inside lines.
- Contraction: A business reduces the variety of its products to get rid of underperforming ones or to streamline the remaining ones.
- Change an Existing Product: A business makes improvements to an existing product rather than developing a brand-new one.
- Product differentiation: A corporation advertises a product as being a better option than a rival product without changing it in any manner.
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Answer:
1) 2,475
down payment+security deposit+acquisition fee= total cost
sorry if I miss something
According to the case, the use of Ph.D. on the ads for hair care products by John Smith is considered an example of the fallacy of inappropriate expertise.
The provided statement is true.
<h3>What is a fallacy?</h3>
A fallacy is an unlawful statement that is used by someone in stating any reasoning or argument which can even be harmful to society.
In the given case, John is having Ph.D. degree in the archaeology field, and his attempt to use the word Ph.D. on the haircare goods marketed by him would be a fallacy in respect of inappropriate expertise. The fallacy could be the use of the Ph.D. word on ads and the inappropriate expertise is that he doesn't have any knowledge regarding skincare and dermatology area.
Therefore, this may create a harmful effect on the individuals who are buying them as it is not authorized by a dermatologist.
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Benny is self-employed. he’s experienced a bit of success over the last few years and is now ready to purchase a home. he’s meeting with a lender later today . Benny can expect to be asked for additional documentation to verify his income.
Self-employment is the state of being able to work for yourself rather than for your employer. Tax authorities generally consider an individual to be self-employed if they choose to be recognized as self-employed or if the individual has income that is taxable.
Self-employed means doing business as a partner or owner rather than working for your employer. According to IRS guidance (page 2), a person who “trades or does business as a sole proprietorship or independent contractor” is self-employed.
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