The limitations of GDP. GDP is a useful indicator of a nation's economic performance, and it is the most commonly used measure of well-being. However, it has some important limitations, including: The exclusion of non-market transactions.
Answer:
The correct answer to the following question will be Option C.
Explanation:
- Constant cost industries seem to be a sector wherein the proportion of units produced as well as manufacturing costs every unit maintains the very same irrespective including its amount of manufacturing or rise in population. Which doesn't use input data in the appropriate amount to influence the rates of that same components by a shift in industry revenue.
- This doesn't even use inputs in such amounts that perhaps the costs of that same inputs will be influenced by a change in business production.
The other choices are not linked to an industry of this kind. Therefore the clarification above is correct.
The average cost curve and the variable revenue curve are two lines which intersect at level of output when the firm is supplying and that business is earning zero economic profits.
If the price which the firm is charging from customer is higher than its average cost of production for the quantity of the goods produced, then the firm will earn profits to a large extent.
Conversely, if the price which is charged by the firm is lower than its average cost of production, the firm will suffer losses.
Thus when the cost is equal to the revenue of the firm it means there is no profit at all. At this level the average cost curve will intersect the revenue curve.
To know more about marginal cost curve here:
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Ethics refers to acceptable conduct in any setting therefore it concernscconcerns the behaviour thebehavioithbusiness
