Economics costs are the summation of explicit and implicit costs. Implicit cost is the opportunity cost that is foregone in terms of money which...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your tough ...
Business Economics Demand curve Define an endogenous variable.Question:Define an endogenous variable.Variables:Variables can be independent or dependent depends upon the type of model. For example, quantity demanded is an independent variable that affects the price as a dependent variable. In this ...
The barrier I always hear from developers’ point of view on this is that building a global-ready product is a form of “premature optimization.” In reality, it’s smart economics. You take small steps today to avoid blowing your chances of giving your product the ability to succeed global...
Marginal Physical Product is the change in output produced by employing one additional unit of the variable input. It can be calculated as: MPP(n) = (Delta TPP)/(Delta " Units of variable inpout") OR MPP(n) = TPP(n) - TPP(n -1)
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- Selling Cost. - Perfect Competition. Define Market Structure in Economics? Define Perfect Competition and Imperfect Competition. Identify any five (5) conditions that are necessary for perfect competition to exist. What are the characteristics of pure competition? a. What are some of the ...
Labor is a resource in economics that is used by firms to produce output. Increasing the amount of labor used while keeping other inputs constant will result in diminishing marginal returns.Answer and Explanation: Marginal Product of Labor: The marginal product of labor is the add...
Define trickle-down economics Define cost inhibitive What does an increase of margin of safety mean? Define business finance Define valuation in business. What does zero economic profit represent? Define appraisal in business. Define financial market What is a variable expense? What does accumulation ...
Describe at least two ways that option pricing is used in corporate finance (ie, in the firm). What is opportunity cost and why is it an important concept in the capital budgeting process? How is behavioral economics observed to work in people making financial investment choices in bo...
Define bequest value as it relates to natural resource economics. Give an example. Explain how cost and extent decisions affect the allocation of assets to higher value uses. Explain/Define indirect taxes. Explain what are the three main factors that influence capital flows into or ...