There are different types of costs in economics. Some of these costs include variable costs, fixed costs, sunk costs, total costs, and semivariable costs.Answer and Explanation: Fixed costs are costs that must be paid no matter the firm produces or ...
Explain various theories of wage determination. Explain the role of trade union in the economy Explain the different types of pricing in ICT services. What are the differences between fascism, dictatorship, and totalitarianism? What is the difference between appendix and annexure?
Types of Consumers in Economics by Catherine Capozzi Published on 26 Sep 2017 The purchasing decisions of consumers vary depending on a variety of factors: income, taste and preferences and personalized needs are just a few. Despite the attempts of the best economists, pinpointing why consumers...
Explain the term "cost-benefit analysis" and give the situation when it is appropriate. 1. What is the purpose of setting the first derivative equal to zero in the optimization process? 2. Suppose you are optimizing a function with the highest power ...
Explain how the company decides to give its senior executives a one-time $100,000 bonus would affect the marginal cost at the Ford Motor Company. How does the changing nature of the work-force and the economy, described in your textbook and in the case, affect your ...
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Over time, different API architectural styles are released. Each of them has its own patterns of standardizing data exchange. You can check out the use cases of each style in the diagram. Code First vs. API First The diagram below shows the differences between code-first development and API-...
In practice, that means it needs a mixture of different types of energy so supply can be almost 100 percent guaranteed. Some of these will operate almost continually (like nuclear), some will produce power at peak times (like hydroelectric plants), some will raise or lower the power they ...
Because of scarcity, choices must be made by individuals and businesses in pursuit of maximizing their utility and profits, respectively. In economics, efficiency describes a condition where elements of an economy are performing or being alloc...
In economics, costs are the amount paid or alternative foregone for choosing a particular good, service, or activity. In production, costs are incurred by firms, for example, the cost of raw materials, labor, etc. which can be categorized as direct or indirect costs. ...