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Card 12 / 23:
The WipeOut Ski Company manufactures skis for beginners. Fixed costs are $30. Fill in for total cost, average variable cost, average total cost, and marginal cost.
The course author didn't provide an answer for this question
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Questions & Answers
production
place
Price
product
Benedict
why is unemployment rapid in the country
Gyamfi
I need more explanation
Odo
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
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
prices of Quality demanded is equal to Quality supplied
it's quantity demand and quantity supplied that's called equilibrium
Romy
they deal With prices
NABUBOLO
define the elasticity
NABUBOLO
explain different types of elasticity
NABUBOLO
oops 😬 you are right you talk about quality I tell about quantity
Romy
elasticity is the measurement of the percentage change of one economic variable in response to a change in another
Romy
Cross Elasticity of Demand (XED)
Income Elasticity of Demand (YED)
Price Elasticity of Supply (PES)
Romy
I need to know everything about theory of consumer behavior
Grace
Romy, what is microeconomic?
thomas
How does one analyze a market where both demand and supply shift?
That's equilibrium market
Ramon
but an equlibrum can appear twice on the same market...
both in Movement along the Demand/supply curve of shift in the Curve
Gabriel
I Mean on the same curve..
Gabriel
how can consumer surplus be calculated
Franklyn
How can we analyze the effect on demand or supply if multiple factors are changing at the same time—say price rises and income falls?
because of fall of income, less will be demanded and much will be supply as a result of price rises. Rise in price always motivate new supplier to enter into the system. But it only possible in the short run
Kweku
yeah..
I think Ceteris Paribus is applied in this case
Gabriel
that is the law of Demand is Inversely related to the law of Supply...
so that mean a positive change in demand may produce a negative return to supply I think.
Gabriel
what are the difference between Wants and Needs
When the price is above the equilibrium, explain how market forces move the market price to equilibrium. Do the same when the price is below the equilibrium.
Gabriel
economic problems
Manishankar
yeah please Explain
Gabriel
I don't know this is my question
Manishankar
no it was a mistake...😂😂
can you explain how Wants and needs differs 😌
Gabriel
wants is what human desire but might not need them, human want are mostly articles of ostentatious
while need is what human must get to live e.g inferior goods
Ramon
what's equilibrium price
james
equilibrium prices is a situation whereby the price of goods supplied equates to the demand
Ariel
this whereby the prices of quality demanded is equivalent to quality demanded
NABUBOLO
wants are numerous desire man that man can do without if not purchased e.g. cosmetic
while need are desires that you cannot do without e.g. food
Franklyn
equilibrium price is that level of output were quantity demanded is equal to quantity supplied
Arthur
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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