Answer:
When ATC curve is decreasing, we know that the MC curve is
below the ATC curve, and when the ATC curve is increasing, we know that MC is above the ATC curve
Explanation:
ATC refers to average total cost and MC refers to marginal cost, these both curve derive from total cost when MC is below ATC curve it shows that MC is less than ATC at that point ATC is falling.
Likewise, when MC is above ATC curve it shows MC is grater than ATC curve and at that point ATC is rising.
furthermore, when MC is equal to ATC at that point ATC is at minimum point.
In general, the people who have the power to select or approve the supplier are referred to as the "buyers". Most of the time, buyers want to go with a supplier who can offer the best product at the cheapest price.
Answer: An ethical dilemma
Explanation:
An ethical dilemma is a situation where an individual is faced with making a decision between two options where if any option is chosen the individual might act against his/her moral principle. Like in the question, John is faced with the option of either complaining about child labor and then the child losses his/her source of income or allowing things to be as they already are.
