What are differences between differential and explicit cost
What are the differences between differential cost and explicit cost?
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Differential Cost:
This refers to the change in cost because of change in the level of activity or method of production or pattern of production.
Explicit Cost:
These costs are those costs that are really paid (or paid in cash.). all they are paid out costs.
If all else regarding two occupations are relatively equal, then wages tend to be lower for jobs which: (1) require important education and training. (2) expose the worker to bad weather. (3) require extended periods away from home. (4) pose health and safety hazards
For labor Plastibristle’s demand for labor is least wage elastic at: (i) point a. (ii) point b. (iii) point c. (iv) point d. Q : Decide to produce or to shut down in When, for a specified output level, an absolute or perfectly competitive firm's price is less in that case its average variable cost, so the firm: w) is earning a profit. x) must shut down. y) must increase output. z) must increase price. Q : What are the important areas of What are the important areas of decision making?
When, for a specified output level, an absolute or perfectly competitive firm's price is less in that case its average variable cost, so the firm: w) is earning a profit. x) must shut down. y) must increase output. z) must increase price. Q : What are the important areas of What are the important areas of decision making?
What are the important areas of decision making?
What did professor Marshall illustrates about Law of Demand? Answer: According to Marshall “the amount demanded raises along with reduces in price and diminish
The market supply of labor is the sum of the: (1) quantities of labor supplied by households at each wage. (2) wages paid to households for each quantity supplied. (3) quantities demanded by firms at each wage. (4) marginal products of labor at each l
Since an economy moves downward all along the production possibility frontier which is concave from beneath, the: (1) Opportunity cost of the good whose production goes increasing. (2) Law of rising returns outcomes ever lower costs. (3) Dollar value
Explain the Trent projection statistical method of Demand Forecasting.
Illustrates the term monetary policy?
A cartel is: (a) an oligopoly model which relies on interdependence. (b) an organization of oligopolist firms behaving like a monopoly. (c) an organization of firms that jointly make decisions. (d) All of the above. Discover Q & A Leading Solution Library Avail More Than 1434672 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1949835 Asked 3,689 Active Tutors 1434672 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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