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What is the impact as production of an item increases have on the unit cost?
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Idea that as production increases cost per item decreases?
economies of scale :)
The law of increasing costs means that when an economy increases the production of one item .?
what law of increasing costs means that when an economy increases the production of one item _____.
The law of increasing costs means that when an economy increases the production of one item?
It is one of these questions: a. the opportunity cost goes up. b. the actual cost of making the item goes down. c. the actual cost goes up but the opportunity cost goes down. d. the production costs will increase also. You decide...
What is incremental cost?
It is the cost of one unit of item that marginally increases the profit base of a transaction.
What happens to cost inflation when any item of cost increases independently of changes in demand?
Inflation still takes place, you are paying more for a good or service than what the previous cost was. This increase could be due to an increase in labor costs, production costs, materials cost, market saturation exponents or consumer utility.
As production of an item increases what impact does that typically have on the unit cost?
Unit cost decreases
What is the word for an idea that has production increases cost per item decreases?
cartel
Idea that as production increases cost per item decreases?
economies of scale :)
The law of increasing costs means that when an economy increases the production of one item .?
what law of increasing costs means that when an economy increases the production of one item _____.
The law of increasing costs means that when an economy increases the production of one item?
It is one of these questions: a. the opportunity cost goes up. b. the actual cost of making the item goes down. c. the actual cost goes up but the opportunity cost goes down. d. the production costs will increase also. You decide...
What is the name of the law that states that as we shift factors of production of making one good or service to another the cost of making the second item increases?
the law of increasing costs
What is the name of the law that states that as we shift factors of production from making one good or service to another the cost of producing the second item increases?
the law of increasing costs
What is incremental cost?
It is the cost of one unit of item that marginally increases the profit base of a transaction.
What is maginal cost?
Marginal cost is the increase or decrease in the total cost of a production run for making one additional unit of an item.
What does sales tax mean in math?
something that increases the amount of the total cost of the item by the government
What happens to cost inflation when any item of cost increases independently of changes in demand?
Inflation still takes place, you are paying more for a good or service than what the previous cost was. This increase could be due to an increase in labor costs, production costs, materials cost, market saturation exponents or consumer utility.
What set price in a free market economy?
The cost of production of an item & its demand set its price
