What is sweetens opportunity cost of manufacturing 1 million cars per year?

Q: What is Explicit Cost?

A: The cost of production is the cost incurred in the process of production in the economy by a firm.…

Q: Write about the production function with two and more than two variables

A: A function is basically a mathematical relationship between the dependent and the independent…

Q: hy does more inputs not necessarily translate into more output?

A: An input is something placed into a framework or interaction, while an output is produced or created…

Q: In recent years, the United States has experienced large increases in oil production due in large…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: What explains the shape of the average and marginal cost curves?  Is it linked to any production…

A: Marginal cost is the measurement of change in total cost with the increment of quantity produced by…

Q: Why does total cost increase faster as output increases?

A: A producer has to incur various types of costs in order to produce goods and services. This includes…

Q: I remember from my omics classes that average ble cost (AVC) is equal to: can you tell me the…

A: The variable cost is $60 per worker a day. At 90 units of output (i.e. when 90 cars are washed in a…

Q: True or False The slope of the total cost curve is equal to marginal cost, or the change in…

A: Total cost It refers to all the cost or expense that is incur in a production process.It is given by…

Q: Define the term Manufacturing Costs?

A: Cost is the monetary value expended by a company to produce goods and services and to carry out its…