If a firm's marginal costs <u>fall</u>, then its <u>price falls.</u>
This is based on the principle that if the marginal cost of a product or firm rises, that implies that the firm is operating at a high fixed cost, thereby leading to an increase in the cost of production, which generally equates to products having a high price.
On the other hand, where there is low marginal cost, production costs reduce because the products are being produced at a lower fixed cost. Thereby leading to lower prices.
Hence, in this case, it is concluded that "If a firm's marginal costs <u>fall</u>, then its <u>price falls</u>."
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Answer:
The correct option is D
Explanation:
GDP (Gross Domestic Product) is the monetary amount of all the finished goods and services which is made within a country during a particular period. It measures or evaluates the value of the economic activity within a country.
Rise in GDP could be because of the strengthening in the property rights, increase in the investment in human capital and change from inward oriented policies to the outward policies.
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Answer:
1. Nature of commodity
2. Availability of substitutes
3. Income level
4. Postponement of consumption
5. Number of uses
6. Share in total Expenditure
7. Time period
Explanation:
In the demonstration, 360∘ of rotation (one full rotation) represents a sidereal day. You can actually measure the length of the sidereal day by measuring the time from when <u>the star vega</u> or<u> the star sirius</u> crosses your meridian on one day (or night) until <u>it </u>crosses the meridian on the next day (or night). Mastering astronomy.
Answer:
Gross Income:
= Earned wages + Interest from savings + Interest on home mortgage
= 93,260 + 1,340 + 4,500
= $99,100
Adjusted gross income:
= Gross income - Tax deferred plan - State taxes
= 99,100 - 6,300 - 1,359
= $91,441
Taxable income
= Adjusted gross income - Personal exemption - Standard deduction - Charity contribution
= 91,441 - 3,500 - 7,800 - 2,500
= $77,641
