Answer:
rapid prototyping
Explanation:
Rapid prototyping (RP) is a family of manufacturing methods to make engineering prototypes in the minimum possible delivery times, based on a model of the article made in a computer-aided design system (CAD)
Rapid prototyping is an excellent way to check the functionality, dimensions and design characteristics of the designs, without going through the usual long prototyping process that requires specific technical and experienced tools.
Explanation:
c. a downward sloping demand curve.
Answer:
Inelastic
Explanation:
The inelastic demand means the demand of the product does not vary when there is much change in the price. Let us assume that if the price is increased by 20% so the demand decreased only by 1% so here we can said there is inelastic demand
Also due to increased in the supply, the demand does not increased that much. So if the price is decreased so the demand does not respond due to which the total revenue comes down
So as per the given situation, having the large quantity caught the revenue is decreased so here the demand should be considered inelastic
Answer:
Fixed Cost Function = Average Cost - Average Variable cost
Explanation:
A fixed cost is the one which does not changes with the level of production. These cost are irrelevant to number of units production. It is not affected by the units produced and sold. The change in fixed cost does not affect the marginal cost. The marginal cost is the variable cost that is incurred by producing one more unit. These costs are affected by the level of production.
