The value of output is maximized in a competitive market because: it is easy for an industry dominated by a single firm to achieve economies of scale, producing output at a low cost. government taxation reduces the profit motive of entrepreneurs. entrepreneurs are always on the lookout to move resources into higher-value uses, in an effort to create more profit for themselves. social planners are better able to plan and make resource decisions when there are many buyers and sellers.
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The value of output is maximized in a competitive market because entrepreneurs are always on the lookout to move resources into higher-value uses, in an effort to create more profit for themselves.
In a competitive market, entrepreneurs are motivated by the profit motive and constantly seek opportunities to create value and generate higher profits. They analyze market conditions, consumer preferences, and resource availability to identify ways to allocate resources efficiently and produce goods or services that are in demand. This drive to maximize their own profits leads entrepreneurs to allocate resources to their most valuable and productive uses, resulting in an optimal allocation of resources in the economy. As a result, the value of output is maximized as resources are efficiently utilized to meet consumer needs and preferences.
It is easy for an industry dominated by a single firm to achieve economies of scale, producing output at a low cost.
In contrast to the above statement, the value of output is not necessarily maximized when an industry is dominated by a single firm. While a dominant firm may achieve economies of scale, which can lead to cost advantages and lower production costs, it does not guarantee that the value of output is maximized. In fact, monopolistic or oligopolistic market structures can result in reduced competition, limited consumer choices, and potentially higher prices. The absence of competition can hinder innovation, efficiency, and the incentive for firms to continuously improve their products or services.
Regarding the statements about government taxation and social planners, they are not directly related to the maximization of output in a competitive market. Government taxation affects the profitability and incentives of entrepreneurs, but it does not inherently maximize the value of output. Similarly, while social planners may benefit from having many buyers and sellers in terms of gathering market information and making resource decisions, it is not a direct factor in maximizing the value of output. The main driving force behind the maximization of output in a competitive market lies in the entrepreneurial pursuit of profit and the efficient allocation of resources based on market signals and consumer demand.
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Related Questions
why is 10 cents earned far more valuable than a dollar found. Critical thinking.
Answers
Answer in True or False :
Making a payment on an account would be journalized with a debit to Accounts Payable and credit to Cash
2)chose one of the following : By NOT accruing warranty​ expense:
A.reported expenses will be overstated and reported liabilities will be understated.
B.reported liabilities will be understated and net income will be overstated.
C.reported liabilities will be overstated and net income will be understated.
D.reported expenses will be understated and net income will be understated.
Answers
True: Making a payment on an account would be journalized with a debit to Accounts Payable and credit to Cash.
Answer: B) reported liabilities will be understated and net income will be overstated.
By not accruing warranty expense, reported liabilities will be understated because the company has an obligation to provide warranty service in the future, but it is not recognizing the associated expense. This understates the reported liabilities on the balance sheet. Additionally, net income will be overstated because the expense related to warranty service has not been recognized, resulting in higher reported income.
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Which of the following pieces of information is needed to compute flow time at a dentist's office?
A. Travel time of patients from home to the dentist.
B. Scheduling time of patients.
C. Arrival time of patients.
D. Arrival time of staff.
Answers
Answer:
C. Arrival time of patients.
Explanation:
Flow time is a term used in business operations to describe the quantity of period or duration a flow unit such as the number of customers attended to, commodities produced, etc, consumes in a business operation from start to finish. It can be calculated by the formula T = I/R
Where T = Flow time, I = average inventory, R = number of customers attended to / time period
Hence, in this situation, the information that is needed to compute flow time at a dentist's office is option C Arrival time of patients.
Which of the following would normally fall under general education requirements at a college?
A. Literacy, natural sciences, social sciences, and physical education B. Music, physical education, world languages, and behavioral sciences
C. Math, music, physical education, and military history
D. Math, literacy, natural sciences, and social sciences
Answers
Answer: D. Math, literacy, natural sciences, and social sciences
Explanation:
General Education Requirements prepares students with the skills that are needed to enhance their employability and also help them in course of life. Some of these skills include oral and written communication, problem solving, critical thinking, etc.
Some of the subjects that would normally fall under general education requirements at college are Writing, Mathematics, Social science, Natural science, Global awareness, Diversity. etc.
Althoigh a franchise offers many upsides opening a franchise also has many downsides. From the lost below select the answers that are considered down sides
Answers
Answer:
the options are missing, but I can list several disadvantages or downsides of owning a franchise:
When you buy a franchise you enter a formal contract that requires you to perform different obligations and failing to perform can result in legal and economic problems (similar to all contracts signed).The franchise contract generally specifies a certain amount of years, and even if you are able to perform very well, nothing can assure you that the contract will be renewed. When you buy a franchise, you must follow all the rules, procedures and guidelines given to you by the franchisor, i.e. you own a business but someone else tells you what to do. These orders and restrictions given by the franchisor include what you can or cannot sell, and who will be your vendors (suppliers). Even if you do great, other franchisees might not operate properly and that will negatively affect your business. You have to pay royalties (a % of your gains) to the franchisor.I immediately need help with this please help me someone please solve it for me it’s pretty urgent if u write unnecessary things I’ll report so pleasee
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Hello there ☺️,
Please check the attached image of the answer.
By Benjemin ☺️
Samantha, a high school teacher, wants to spend more time with her children
and is looking for a part-time job in her field. What would be a good career
alternative for her?
A. Tutor
B. Administrative assistant
C. Pet groomer
D. Restaurant manager
No link please
Answers
umpqua defines other financial institutions that perform banking services as their competitors. therefore they take a/an ___________ of its competition.
Answers
Umpqua defines other financial institutions performing banking services as their competitors. therefore they take advantage of its competition.
Firms or sellers compete for customers' business in a market in order to attain a certain commercial goal, such as maximizing earnings, sales, or market share. In this context, the word rivalry is frequently employed to describe competitiveness. It is also described as a situation in which several business organizations compete for the acquisition of commodities that are limited by a number of market factors.
It is not uncommon for financial institutions, such as banks, to compete with one another for customers. In a competitive market, these institutions may offer a variety of services and products, such as loans, investment products, and checking and savings accounts, in an effort to attract and retain customers. In some cases, institutions may also offer competitive interest rates or other benefits in order to gain an advantage over their competitors.
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A country that introduces a currency board commits itself to converting its domestic currency on demand into another currency at a ________ rate.
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A country that introduces a currency board commits itself to converting its domestic currency on demand into another currency at a fixed rate.
A currency board is a monetary authority that issues a nation's currency. The main function of the currency board is to maintain a fixed exchange rate between the country's currency and another country's currency. The currency board system helps to lower inflation by forcing strict monetary discipline on a country's government. The country must maintain a fixed exchange rate by backing all its domestic currency with foreign reserves. It must also maintain a balanced budget, as any deficit must be covered by selling foreign reserves. Therefore, the statement "A country that introduces a currency board commits itself to converting its domestic currency on demand into another currency at a fixed rate." is correct. This ensures that the country maintains the fixed exchange rate and also avoids fluctuations in exchange rates.
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The concept that states that the timing of the receipt or payment of a cash flow will affect its value to the holder of the cash flow
Answers
The time value of money is a financial theory that argues that when cash flows are received or paid, the timing will determine how much they are worth (TVM).
What does the term "cash flow statement" mean?A financial statement called a cash flow report gives complete information about all cash inflows a company makes from continuing activities and the outside investment sources. Additionally, it comprises of all financial disbursements made over a specific period of time to cover investments and expenditure.
What 3 different kinds of cash flow statements are there?Companies should monitor and analyze three forms of cash flow: cash flow from operating operations, cash flow from investment activities, and cash flow from financing activities to assess the liquidity and solvency of the company. A company's cash flow statement will include all three.
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what is the transformation of the message into the signal, which is sent over the communication channel from the transmitter to the receiver?
Answers
Encoder is the transformation of the message into the signal which is sent over the communication channel from the transmitter to the receiver. Hence, option C is correct.
The channel encoder's job is to give the GSM receiver the tools it needs to spot transmission faults and eventually fix some of them. In terms of bit error, this will increase the transmission quality. Depending on the transmission mode, GSM uses various encoding standards. Verbal transmissions require a universal language code that the recipient can quickly decode. Communication will fail if the recipient is unable to decode or comprehend the message. For instance, a message encoded in Tamil cannot be decoded by someone who does not understand Tamil.
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The correct question is:
14. Which of the following is the transformation of the message into the signal which is sent over the communication channel from the transmitter to the receiver?
a. Noise
b. Decoder
c. Encoder
d. Sender
Indicate how each of the following transactions affects US exports, imports, and net exports.
Transaction
Effect On...
U.S. Exports U.S. Imports U.S. Net Exports
A British scholar spends a year at Harvard University as a visiting scholar.
Your parents go on a trip to Japan in late March for the Cherry Blossom season.
A Canadian buys a new Ford.
The student bookstore at Yale University sells books published by Cambridge University Press.
A European family goes to Disney World in Florida for vacation.
Choice for the table are: increase, decrease, or unchanged
Answers
Answer: See explanation
Explanation:
Exports are the goods and the services that a particular country produces and sells to other countries.
Imports are the goods produced in other countries and sold to ones country.
Net export is the difference between the export an import. An increase in export leads to a rise in the net export.
Based on the above explanation, the answer to the question will be:
1. A British scholar spends a year at Harvard University as a visiting scholar.
US exports - Increase
Imports - Unchanged
Net exports - Increase
2. Your parents go on a trip to Japan in late March for the Cherry Blossom season.
US exports - Unchanged
Imports - Increase
Net exports - Decrease
3. A Canadian buys a new Ford.
US exports - Increase
Imports - Unhanged
Net exports - Increase
4. The student bookstore at Yale University sells books published by Cambridge University Press.
US exports - Unchanged
Imports - Increase
Net exports - Decrease
5. A European family goes to Disney World in Florida for vacation.
US exports - Increase
Imports - Unhanged
Net exports - Increase
Which of the following are automatically withheld from paychecks?
Answers
Lev Knossos sells high tech equipment and software to companies in Greece. When he first started selling to Greek businesses, he was told that the Greek market lagged behind others in the use of technology. After conducting research, Knossos visited the Commercial Bank of Greece and explained how his products could create Web pages for the bank and facilitate banking transactions. By applying his product knowledge to solve a technology issue that he identified, Knossos took the role of: Tactical partner. Creative problem solver. Low-involvement decision maker. Transactional partner. Exchange creator.
Answers
Answer: Creative problem solver
Explanation:
Creative problem-solving refers to the process of finding a solution to a problem that doesn't have a solution before. It is an previously unknown and an original solution to a problem.
Creative problem solving is when an individual gets creative in order to develop new ideas and therefore get the solutions to the problems encountered.
Since Knossos visited the bank and explained how his products could give the bank solution to help facilitate banking transactions, he's a creative problem solver.
How is an excise tax different from a sales tax an excise tax is not deductible?.
Answers
If it's a personal expense, an excise tax is not deductible.Excise taxes that are typical and essential costs of operating your trade or service are deductible as business expenses.
Are excise taxes deductible?A tax levied on produced items at the time of manufacture as opposed to the time of sale is referred to as an excise tax.But the government levies a levy known as the sales tax on the sale of all products and services.Because it only applies to certain products, the excise tax differs from Excise taxes, unlike regular sales taxes, are typically levied as a percentage of the purchase price rather than a flat rate per unit.For example, the excise tax on cigarettes is determined by the cost of a pack.Moreover, the majority of gasoline excise taxes are calculated in cents per gallon.While sales tax is assessed on a considerably wider range of items, excise duty is only applicable to certain goods and services.Sales tax is often charged as a percentage of the cost, in contrast to excise duty, which can be calculated either on a per-unit basis or as a percentage of the cost.Excise taxes are levied on a wide range of goods, services, and activities.These taxes may be assessed against the producer, the retailer, or the consumer, depending on the tax.To learn more about excise tax refer
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According to _____________________ theory, information technology makes it less expensive for firms and individuals to participate in markets.
Answers
According to transaction cost theory, information technology makes it less expensive for firms and individuals to participate in markets.
Transaction cost theory is a microeconomic theory that explains how firms organize their activities and choose between market and internal production. The theory argues that firms will choose to produce goods or services internally if the costs of doing so are lower than the costs of acquiring them from the market.
Information technology can reduce transaction costs in a number of ways. First, it can help firms to find and negotiate with suppliers more easily. Second, it can help firms to monitor the performance of suppliers and ensure that they are meeting quality standards. Third, it can help firms to manage the risks associated with market transactions, such as the risk of default by suppliers.
As a result of these cost savings, information technology can make it more profitable for firms to participate in markets. This can lead to increased competition and lower prices for consumers.
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What is the meaning of business opportunity
Answers
Answer:
A business opportunity (or bizopp) involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business. ... This is different from the sale of an independent business, in which there is no continued relationship required by the seller.
hope this help you!! ;)))
Look up the following words. Give the etymology of each. State what kind of term, such as mathematical, scientific, political science, history, etc. Include the name of the dictionary consulted as well as the publisher and publishing date.
ideological:
constructivist:
Marxist:
Vector:
axiomatic:
azimuth:
matrix:
hypothesis:
theory:
phenomena:
Answers
Answer:
1). Ideological: Greek origin, meaning a form. It is largely employed in historical context.
2). Constructivist: Russian, derived from the word 'konstruktivizm' meaning to reference to an abstract art movement. It is used in both political and historical disciplines.
3). Marxist: The word Marxist is used to denote a firm follower of the principles and teachings of Karl Marx. The word is commonly employed in social sciences.
4). Vector: Latin origin, the word gives the meaning convey. It is used in mathematics.
5). Axiomatic: Greek origin, meaning of 'self-evident' or 'thought to be fitting.' The word is used in mathematics.
6). Azimuth: Arabic origin using the word 'meaning , and samt, direction.' It is employed in science and geography for describing the celestial or heavenly bodies.
7). Matrix: Latin origin, meaning 'a breeding mother.' The term is commonly employed in both science and mathematics.
8). Hypothesis: Greek origin, formed with words 'Hupo'(means under) and 'thesis'(means placing). This is used in science to check the validity of a truth.
9). Theory: It comes from Greek word Theoria, stands for 'speculation or contemplation' It is used in science, mathematics, and other disciplines as well.
10). Phenomena: Derived from 'Phasinomenon', a Greek word , which stands for 'things appearing to view.' The word is most likely used in science to detail natural occurrences.
Douglas Harper's 'Online Etymological dictionary', 2000.
Which type of employee receives the most paid leave benefits?
O they all receive the same
full-time
O temporary
O part-time
Answers
Answer:
I think it's full-time
Answer:
Full time
Explanation:
For tax porposes, you may nave to report the value of your assets, such as cars of religerators The value yod tepod diops with time. Strighit line depreciatiod" assumes that the value is a inear Value o dedas
Answers
Straight-line depreciation assumes that the value of assets depreciates evenly over time, following a linear decline.
Straight-line depreciation is a commonly used method for estimating the decline in the value of assets for tax purposes. Under this approach, it is assumed that the asset's value decreases at a constant rate over its useful life. In other words, the asset's value depreciates in a linear fashion. For example, if you have a car or a refrigerator, the straight-line depreciation method assumes that the asset's value will decrease by the same amount each year.
To calculate straight-line depreciation, you need to determine the initial value of the asset and its useful life. Then, you divide the difference between the initial value and the estimated salvage value (the value at the end of its useful life) by the number of years of the asset's useful life. This gives you the depreciation expense that can be deducted for tax purposes each year.
It's important to note that the straight-line depreciation method may not accurately reflect the actual decline in value for certain assets. Some assets may depreciate more rapidly in the early years and slow down later, while others may experience different patterns of depreciation. However, straight-line depreciation provides a simplified and consistent approach for reporting asset values for tax purposes.
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Which of the following would be defined as retaliation under EEO laws?
A.
A dismissed employee files a false complaint of discrimination with the EEOC.
B.
The EEOC targets an employer with a history of unlawful discriminatory practices.
C.
A hospital demotes a nurse who has complained about ethnic discrimination.
D.
An employer fires a supervisor who discriminates against a protected-class member.
Answers
EEO laws (Equal Employment Opportunity laws), retaliation refers to adverse actions taken by an employer against an individual for engaging in protected activity, such as filing a complaint or reporting discrimination.
Based on this understanding, the that would be defined as retaliation under EEO laws is:
C. A hospital demotes a nurse who has complained about ethnic discrimination.
Retaliation occurs when an employer takes adverse actions, such as demotion, termination, or other negative treatment, against an employee in response to their complaint or participation in protected activities related to discrimination. In this scenario, the nurse is being demoted after complaining about ethnic discrimination, which can be seen as a retaliatory action by the hospital. Retaliation is prohibited by EEO laws, as it discourages individuals from reporting discriminatory practices and seeking protection under the law.
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Property rights protect businesses by:
A. setting a minimum price on all goods in an industry.
B. ensuring that the government cannot regulate their actions.
C. providing them with emergency loans from the government.
D. preventing competitors from copying their products.
Answers
because property rights are like copyrights that protect a business’ products, so it the work cannot be replicated
Preventing competitors from copying their products is the use of Property rights to protect businesses. In business, there is high number of chance to copy the designs and pattern of the goods and services.
Why is it important to protect property rights?The primary goal of property rights, as well as their primary achievement, is to minimize destructive rivalry for control of economic resources. Property rights that are well-defined and well-protected replace violent rivalry with harmonious competition.
Thus, option D is correct.
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career class question
Answers
I think so
Which of the following careers is most likely to require business skills?
Answers
Answer:
1, Communication skill,Leadership skill,Analytical skill
Good relationship selling increases
A. customer satisfaction
B. customer qualification
C. word of mouth
D. customer retention
Answers
(b)
Your warehouse manager reports that there were four king-size sheets and three queen-size sheets returned, along with five packages of queen pillow cases. Calculate the revised total due (in $).
$
(c)
The vendor has offered a 8% early payment discount that applies only to the merchandise, not the shipping or insurance. What is the amount of the discount (in $)? (Round your answer to the nearest cent.)
$
(d)
What is the new balance due after the discount (in $)? (Round your answer to the nearest cent.)
$
Answers
The revised overall due is $6,117.60. The early fee bargain amount is $416.88, and the new stability due after the bargain is $5,700.72.
(a) After correcting the mistakes within the itemization, the revised invoice desk must be as follows:
QTY. Ordered QTY. Shipped Description Unit Amount
44 ea. Sheets, king $45.10 $1,984.40
65 ea. Sheets, queen $39.60 $2,574.00
28 pkg. Pillow Cases, queen $17.85 $498.80
55 pkg. Pillow Cases, std. $17.35 $954.25
6 ea. Shams $33.25 $199.50
Invoice Subtotal $5,210.95
Shipping Charges of $131.50
Insurance $23.35
Invoice Total $5,365.80
(b) The variety of king-size sheets back is 4, and the quantity of queen-size sheets returned is three. The total cost of the back sheets may be calculated as follows:
4 * $45.10 (king-length sheet fee) + 3 * $39.60 (queen-length sheet rate) = $180.40 + $118.80 = $299.20
(c) The early fee bargain provided via the vendor is 8% of the product's fee. To calculate the bargain, we need to subtract the value of shipping and insurance from the invoice subtotal and practice the bargain percent:
Discount = 8% * (Invoice Subtotal - Shipping Charges - Insurance)
Discount = 8% * ($5,210.95 - $131.50 - $23.35) = 8% * $5,056.10 = $404.49
(d) The new balance due after making use of the cut price may be calculated by using subtracting the discount quantity from the bill overall:
New Balance Due = Invoice Total - Discount
New Balance Due = $5,365.80 - $404.49 = $4,961.31
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The correct question is:
"INVOICE Hamilton Mills No. 49485 INVOICE DATE July 9, 20xx 115 Rock Creek Road CUSTOMER'S Charlotte, North Carolina 28235 ORDER NO. 49485 SOLD TO: SHIP TO: SAME The Bedding Warehouse 406 Maple Road Franklin, VA 23851 SALESMAN SHIPPED VIA Federal Express TERMS Net 30 Days F.O.B. Charlotte, N.C. QTY. ORDERED QTY. SHIPPED DESCRIPTION UNIT AMOUNT 44 ea. Sheets, king $45.10 $1,984 40 65 ea. Sheets, queen $39.60 $2,57400 28 pkg. Pillow Cases, queen $17.85 $44980 55 pkg. Pillow Cases, std. $17.35 $954 25 6 ea. Shams $33.25 $299 50 $6,261.95 INVOICE SUBTOTAL SHIPPING CHARGES $131.50 Insurance $23.35 INVOICE TOTAL $6,416.80 Invoice Table QTY. Ordered QTY. Shipped Description Unit Amount 44 ea. Sheets, king $45.10 $1,984.40 65 ea. Sheets, queen $39.60 $2,574.00 28 pkg. Pillow Cases, queen $17.85 $449.8 55 pkg. Pillow Cases, std. $17.35 $954.25 6 ea. Shams $33.25 $299.5 Invoice Subtotal $6,261.95 Shipping Charges $131.50 Insurance $23.35 Invoice Total $6,416.80 (a) You notice several errors in the itemization of the invoice. Correct the errors in the itemization ing the fol table $). QTY. Ordered QTY. Shipped Description Unit Amount 44 ea. Sheets, king $45.10 $ 65 ea. Sheets, queen $39.60 $ 28 pkg. Pillow Cases, queen $17.85 $ 55 pkg. Pillow Cases, std. $17.35 $ 6 ea. Shams $33.25 $ $ Invoice Subtotal $ Shipping Charges $131.50 Insurance $23.35 Invoice Total $ (b)
Your warehouse manager reports that there were four king-size sheets and three queen-size sheets returned, along with five packages of queen pillow cases. Calculate the revised total due (in $).
$
(c)
The vendor has offered a 8% early payment discount that applies only to the merchandise, not the shipping or insurance. What is the amount of the discount (in $)? (Round your answer to the nearest cent.)
$
(d)
What is the new balance due after the discount (in $)? (Round your answer to the nearest cent.)
$ "
Which of the following statements is true?
Question 8 options:
A. A college may withdraw its offer of acceptance if it finds out you have lied on your application.
B. Any sort of disciplinary infraction in high school will disqualify you from being accepted to college.
C. Colleges have no way of finding out any more about you than what is included in your application.
D.Having someone else fill out your application shields you from legal responsibility for the information it contains.
15 points. No bit links plz.
Answers
Answer:A
A college may withdraws offer of acceptance if it finds out you have a lied on your application
Explanation: it’s obvious
Answer:
A) A college may withdraw it's offer of acceptance if it finds out you have lied on your application.
Explanation:
It's kinda self explanatory.
a test engineer is to conduct environmental testing but the chamber cannot hold all the equipment that needs to be tested. this is an example of a constraint that could impact the sequence and timing of activities in a project network. what type of constraint is it?
Answers
A test engineer is to conduct environmental testing, but the chamber cannot hold all the equipment that needs to be tested. this is an example of a constraint that could impact the sequence and timing of activities in a project network. it is physical type of constraint.
If sources aren't good enough to fulfill height demands, the overdue begin of a few sports ought to be delayed, and the length of the venture can be increased. This system is called useful resource-restricted scheduling. Linear programming. Linear sequence of programming (LP) refers to an own circle of relatives of mathematical optimization strategies which have proved powerful in fixing useful resource allocation problems, especially the ones discovered in commercial manufacturing systems.
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mom???????????????????????
Answers
mom ??????????????????????
Answer:
Go back to bed sweetie, here some fruit snacks now go to sleep.There are no monsters under your bed honey.
Explanation:
Have a great day.
1. Average Cost
Jesaki Water Sports incurs the following costs in producing x water ski vests in one day, for 0
fixed costs, $303;
unit production cost, $21 per vest;
equipment maintenance and repairs, 0.03 x2 dollars.
Find the minimum average cost of a water ski vest. Round to the nearest cent. $ per vest
Answers
The minimum average cost of a water ski vest is $21.03 per vest.
The total cost consists of the fixed cost, unit production cost, and equipment maintenance and repairs cost. Fixed cost: $0Unit production cost: $21 per vest Equipment maintenance and repairs cost: $0.03 x^2 dollars (where x is the number of vests produced) The average cost is given by the formula: Average Cost = (Fixed Cost + Total Variable Cost) / Number of Vests In this case, the fixed cost is $0 and the total variable cost includes the unit production cost and equipment maintenance and repairs cost. So, the total variable cost is $21 + 0.03x^2 dollars. Therefore, the average cost function becomes: Average Cost = (0 + 21 + 0.03x^2) / x After solving for x, we find that the minimum average cost occurs at x = 1. Taking this value of x and plugging it back into the average cost function, we get: Average Cost = (0 + 21 + 0.03(1)^2) / 1 = $21.03
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