<u>Joshua is right because fixed costs are unavoidable but marginal costs are not.</u>
<u>Explanation</u>:
Decision making plays an important role while considering the development of the organization. The officials in the company should act smartly in making decisions during crucial situation.
<u>Marginal cost </u>is the cost added to the total cost while producing additional units. <u>Fixed cost </u>is the cost of the product that does not change with the increase or decrease in the quantity of the products.
In the above scenario, Jasmine and Joshua were discussing about the cost of the products that are produced in their manufacturing plants. They were discussing about the marginal cost and fixed cost.
Answer:
An implied agreement is based on a formal agreement.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implied contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
Simply stated, mutual assent connotes agreement, acceptance and consent to a contract by both parties.
An implied contract can be defined as an informal contract that exists based on an assumption or understanding between two or more parties, rather than on terms that are formally and specifically defined.
This ultimately implies that, an implied agreement is not based on a formal agreement but on assumptions or understanding between the parties involved.
Fixed rates have the advantage over variable rates in that debt may be readily repaid within the allotted time. Hence, choice B
<h3>What is a fixed and variable rate?</h3>
Loans with fixed interest rates have an interest rate that will not change throughout the loan's term, regardless of changes in market interest rates. A loan with a variable interest rate is one in which the interest rate imposed on the outstanding balance changes in accordance with changes in the market interest rates.
Therefore, the benefit of fixed rate versus variable rate is that it enables speedier debt repayment.
Learn more about interest rates:
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It all depends on the degree of consumer risk aversion. Some consumers are more likely to be at risk than others. If my propensity for risk in the face of the possibility of a premium is greater, I will prefer the adjustable hypotheca, which gives me the chance to pay less in the end. If I am a risk averse consumer, I will prefer a fixed hypotheque that will give predictability to my budget.
When the Fed increases the money supply it is easier/cheaper to borrow money so interest rates will fall and consumption will go up.
