Answer:
A vacation house in Colorado is rival in consumption and excludable.
The correct answer is C
Explanation:
A vacation house in Colorado is rival in consumption and excludable because it is a private good.
Answer:
The company’s profit margin for the current year ended December 31 (rounded to the nearest decimal point) is 20%
Explanation:
Use the following formula to calculate the Profit Margin
Profit Margin = 
Where
Net Income = $20,000
Net Sales = $100,000
Placing values in the formula
Profit Margin = 
Profit Margin = 0.2 x 100
Profit Margin = 20%
Answer:
Help a friend finish her college application
Explanation:
All these actions will help me activate my network :-
- Ask for an informational interview at your favorite company
- Get coffee with an alumnus from your high school
- Read a detailed book about your dream job
Except :-
- Help a friend finish her college application
Answer:
a) a downward shift in the AFC curve
Explanation:
AFC = Average Fixed Cost, AVC = Average Variable Cost, MC = Marginal Cost
Average Fixed Cost is defined as the fixed cost of production divided by the quantity produced. Mathematically given as:
Average Fixed Cost = Fixed Cost ÷ Quantity
AVC = FC ÷ Q
Average Variable Cost is defined as the variable cost of production divided by the quantity produced. Mathematically given as:
AFC = VC ÷ Q
Marginal Cost is defined as the cost incurred for an additional unit to be produced. Mathematically given as:
MC = ΔC ÷ ΔQ
The firm discovered a more efficient technology implies that the cost of production is reduced. The result of this is that the fixed cost (FC) is reduced and consequently, the AFC is reduced as well. Hence, the AFC curve shifts downward. We therefore see that a reduction in fixed costs (due to the discovery of a more efficient technology) results in the AFC curve shifting downwards
<u>Hence, Option A (a downward shift in the AFC curve) is the correct answer </u>
Answer:
A) anchoring bias
Explanation:
Anchoring bias refers to a common mistake of relying heavily on the first information that we get, or in this case, the first information that we look for.
We all tend to suffer from anchoring bias, that is why it is one of the oldest sales techniques. Everyone has seen an ad that states a before price and a discount price. If the difference between the before price and the after price are significant, then we will consider that it is a bargain. Or a salesperson first shows us an expensive product, and then shows us a similar but lower priced product, we tend to believe the second product is cheap.
When most of us look for a job, of course we focus on the salary, since we want to work to earn money. But only focusing on the salary is seeing only half the picture, although the most important half. Other associated benefits or costs are usually not considered, e.g. a high paying job might also require dressing formally or spending a lot of time travelling.
