What is the opportunity cost of pizza as production moves from point C to Point D?

Q: What is quality? Could you explain the relationship between cost and quality

A: In an economy, there are various sellers. Each seller offers a product that has a certain level of…

Q: Business X is producing 100 units at a cost of 100. It then produces at additional 100 units at a…

A: Marginal cost measures the change in total cost due to a change in quantity.  i.e., Marginal cost =…

Q: Explain all resources that economy relies?

A: Resources are used together to create goods and services.

Q: Output TFC TVC 1 2 3 4 5 4 20 20 TC TC AFC AVC ATC MC 5 11 ??? 5 Refer to the following table. What…

A: Determine then TVC at 2nd output TVC at 2nd output = TC - TFC = 11 - 4 = 7Based on the given MC for…

Q: 3. Explain why speed is important in the production process of the fashion industry, but why…

A: Fast fashion is a boon for retailers due to the constant introduction of new products encouraging…

Q: Based on the graph provided  i. What is Freda’s marginal cost for each cookie? ii. What is Freda’s…

A: Marginal Opportunity Cost :  Marginal Opportunity Cost may be defined as that amount of a good…

Q: When J employs D to sew 100 pieces of barong, what contract is created? A. Agency to sell B.…

A: A contract is an agreement between private parties that creates legally enforceable mutual…

Q: Demonstrate an understanding of the coordinate system by using it to outline the relationship…

A: Pairs of observations on variables can be represented on a plane in a Cartesian coordinate system by…

Q: en to salaries and wages when you are in a production/manufacturing business that you want to…

A: 1a. .In long run as part of more than one business cycle, all cost become variable.  In short run…

Q: What must an entrepreneur do to earn a profit? How do theactions of firms earning profits inuence…

A: Protecting one's hard work through patents and copyright acquisition is one of the most significant…

Q: The graph shows the benefits and costs of consuming BK Breakfast Burgers. Marginal benefit, marginal…

A: Marginal benefit is the extra gain earned by the consumer when they purchase a good or product. The…

Q: Explain all resources that economic relies on.

A: Economic resources: - all resources used as an input in the production and distribution of goods and…

Q: In the short run, the average total cost of producing 200 pizzas is $ A In the long run, the average…

A: The short run is the period where at least one factor of production is fixed and cannot be changed.…

Q: Q What is the relationship between AVC and ATC? Why? Relationship They intersect Reason:

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: The table below shows Lanark's production possibilities. Wheat Cars A 0 51 B 50 49 C 88 44 D 114 34…

A: Production possibility of an economy shows the maximum possible output combinations of two goods or…

Q: describe the marginal condition for efficiency.

A: Efficiency: It relates to the optimal production and distribution of scarce resources.

Q: Fill in the blank and explain the choice of correct answer. When the marginal…

A: The markets are the place where the buyers of various goods and services and the sellers, or the…

Q: The Learning curve is a complement of the Improvement Curve Learning Curve + Improvement Curve=…

A: The learning curve is a downward-sloping curve. The number of repetitions or quantity of output is…

Q: Diminishing Marginal Returns” is achieved when?

A: The law of diminishing marginal returns states that adding an extra factor of production ends up in…

Q: As we move from point A to point D

A: Opportunity cost is the sacrifice of one good of which production is required to be given up in…

Q: Shirley Bennett wants to open a new food- based business. She is trying to decide between a grocery…

A: Market: The total number of buyers and sellers in a given area or region is considered to be a…

Q: 1. State the three stages of production?

A: Production is the process of merging numerous material and immaterial inputs (plans, know-how) to…

Q: 7. Profit maximization in the cost-curve diagram The following graph plots daily cost curves for a…

A: A market that operates under perfect competition is an idealized market arrangement where numerous…

Q: Vicky currently produces corn and beef at point A in the graph. What is Vicky's marginal cost of…

A: The production possibility frontier refers to a boundary between those combinations of the products…

Q: READ THEN ANSWER THE QUESTION : THE QUESTION : What is the shape of Starbucks’ demand curve? In…

A: Price elasiticity of demand (Ed) is a microeconomic tool (or instrument) to gauge the price…

Q: Suppose you are Marketing Manager of a Football making company. What Macro Environmental factors…

A: Macro Environmental factors are uncontrollable external forces that impacts decision making of a…

Q: What is the reason of low barrel price of crude oil?

A: Since you have posted multiple questions, we answer the first question for you. If you want any…

Q: What level of output does a firm produce?

A: The quantity of products and services produced in a particular time period is referred to as output…

Q: Explain the relationship between the determinant (the cost of factors of production and the state of…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to purchase…

Q: Using an example , explain the production proces

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: you can sell 10 computers for $1400 each or 11 computers for $1300 each, and the marginal cost is…

A: Marginal/Minimal benefit  The minimal/marginal benefit is the benefit procured by a firm or person…

Q: QUESTION 12 Assume the following: • Marginal Cost = 10 • Average Total Cost = 12 What is happening…

A: Average Total Cost (AC): Average total cost is the ratio of total cost and units that that the firm…

Q: The last column of Table 2.2 shows the marginal cost of Good U, which we also assume that the fixed…

A: We know; MC = Change in TC / Change in Q So; Change in TC = MC x Change in Q Average Cost = Total…

Q: Chip and Joanna are building a new home. Chip can cut 24 pieces of lumber or paint 4 rooms in a day.…

A: Comparative advantage refers to the ability to produce a specific good for a lower opportunity cost…

Q: 4. Distinguish between economies of scale and diseconomies of scale. Give examples of why a firm may…

A: The average fixed cost (AFC) is the fixed cost that doesn't change with the adjustment of the…

Q: Do AC and AVC intersects each other?

A: Average cost measures the cost incurred by a firm per unit of output produced. Average variable cost…

Q: What specific data must a firm examine to decide the quantity of product it should produce to make…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: What’s law of diminishing returns

A: The law of diminishing returns would operate since the output would not expand at rising rates.

Q: Ya'qub is going on vacation for 10 days. He is spending SR2000 on the plane ticket, SR500 for food…

A: Explicit costs are those costs that require a money payment. Implicit costs are those costs that do…

Q: Define consumer sovercignty. How docs consumer sovercignty help determine what businesses produce?…

A: In a market economy, the equilibrium price and quantity of a good are determined by the forces of…