(Solution) If A Business Can Sell 10 Units At A Price Of $30 But Has To Reduce Price To $29 In Order To Sell 11 Units, Which Of The Following Can We Conclude? | Snapessays.com


(Solution) If a business can sell 10 units at a price of $30 but has to reduce price to $29 in order to sell 11 units, which of the following can we conclude?


If a business can sell 10 units at a price of $30 but has to reduce price to $29 in order to sell 11 units, which of the following can we conclude?As a toy company produces more toys the average total cost of each toy produced decreases. This is because: total fixed costs are decreasing as more toys are produced. average variable cost is decreasing as more toys are produced. total variable cost is decreasing as more toys are produced. None of the above Marginal revenue is decreasing, but it is still higher than price. Demand is elastic and marginal revenue is positive. Marginal revenue is negative. Total revenue decreases, so demand must be inelastic. As a firm increases its output, which of the following costs should decrease? Average total cost Average variable cost Marginal cost Average fixed cost A company has to pay $10 per hour to hire 10 workers.  If the company only needs to hire nine workers, a wage rate of $8 per hour is sufficient.  What is the marginal cost if the company hires the 10th worker? $28 $80 $10 $82

 


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This question was answered on: May 23, 2022

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