The level of tipping for service providers is considered a numeric variable. Numeric variables describe variables in the form of a number, for example, how much or how many.
<span>Changes in real income per capita</span>
Answer:
c) is the same along both curves.
Explanation:
Two straight-line PPFs have the same vertical intercept, but curve I is flatter than curve II. The opportunity cost of producing the good on the horizontal axis is the same along both curves.
Answer: Account A
Explanation:
Account A would be best for James as it provides the most value for the things he would like to do.
- ATM charges are free with this account so he can use the ATM four times in the month at no charge
- He would pay no monthly fees as he uses direct debit
- He would pay an annual fee of $0
- And as online payments are free, he would not have to worry about getting charged for the 8 bills to process in the month.
Answer:
The average cost of production will fall by $0.05 per unit, from $30.23 to $30.18
Explanation:
The marginal cost is the cost of producing an additional unit.
The marginal cost of 15th unit is $29.5 which means it will cost $29.5 to produce the 15th unit.
If the average cost per unit for the 14 units is 30.23, then total cost of producing these 14 units will b, 30.23 * 14 = $423.22
The total cost of producing 15 units will b, 423.22 + 29.5 = $452.72
The new average cost at production of 15 units is, 452.72 / 15 = $30.18
Thus, as a result of adding the 15th unit, the average cost per unit fell by $0.05 from $30.23 to $30.18