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Card 16 / 26:
Return to the problem explained in and . If the cost of labor remains at $40, but the cost of a machine decreases to $50, what would be the total cost of each method of production? Which method should the firm use, and why?
The new table should look like this:
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Questions & Answers
what is rational behavior
defination of perfect Competition
is a type of market form in which their are many companies that sell the same products and service
Modou
current economic plans (MDGS) needs
I don't know what is happening
surajkumar
What is the importance of study economics
Wilma
Economic is the study of how humans make decisions in face of sacristy
Wilma
economics is the study of how humans makes decision in the face of scarcity
Kpienta
economics is the study of human behaviour when faced with difficult situation example when goods and services are scarcity.
Sydney
production
place
Price
product
Benedict
why is unemployment rapid in the country
Gyamfi
I need more explanation
Odo
1st-due to poorly government planning on employment opportunities, 2nd-low level of science and technology can leads to unemployment,3rd education level
Isack
fiscal monitory policy
Abubakar
thi can be said to be,the level of joblessness in an economy.
Omar
some one who is willing qualified to work but can't find job
jackie
Bethel...explain? please
Abubakar
some one who is willing to work but can't find job
Hawa
unemployment refers to the ability for someone who is capable and willing to work but could not find a job..
Mnoko
some one who not able to find a job
Dennis
please what is the secret of learning?
thomas
explain the various types of cost curve
Short-run average fixed cost (SRAFC)
Short-run average total cost (SRAC or SRATC)
Short-run average variable cost (AVC or SRAVC)
Short-run fixed cost (FC or SRFC)
Short-run marginal cost (SRMC)
Short-run total cost (SRTC)
Romy
what's economic development and growth
what do you understand by Ceteris Paribus?
the external factor will remained constant, except the price
Hasib
everything being equal
Chenwi
explain the uses of microeconomics
uses of microeconomics
Nikita
Adam Smith's definition of economics
what is economic deficit
Amjad
this is a situation whereby a nation's outcome or available resources are not enough to the people thereby causing scarcity
Ariel
Source:
OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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