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Over 80 percent of the clothes that Americans buy have been manufactured in other countries Why do American firms sell clothes made in other countries?
Foreign-made clothes cost less than similar American-made clothes.
What did the populist party support in order to fight against high cost?
The Populist party demanded government ownership over the railroads to combat high costs.
How much did American revolution cost?
It cost 200.73 billion dollars.
The townshend act and the tea act were?
The Townshend and Tea Acts were acts of excessive taxation imposed by the British government on the American colonists in an effort to keep them under British rule and to help make up for the cost of fighting the French on American colonial soil.
Why did the invasion of cambodia cost president Nixon congressional support?
President Nixon lost congressional support due to American military activities in Cambodia and Laos, which had continued after the cease-fire in South Vietnam went into effect, ended in 1973 when Congress cut off funds.
What is the opportunity cost of importance to individual firms and government?
Check
What is a firms total cost?
variable cost plus fixed cost.
Which term is defined as a government support or pays part of the cost of production?
subsidization
What are the cost reduction measures taken by manufacturing firms?
about cost reduction
What does the acronym ROTTEN stand for in economics?
Resource: cost and availability Other goods' priceTaxes, subsidies and government regulationTechnology(productivity)Expectationsof the producerNumber of firms in the industry
Does monopolistically competitive firms have horizontal marginal cost curve?
No it does not. Only Perfectly Competitive firms have a horizontal Marginal Cost curve, which is also there demand curve.
How does total cost relate to total in the market total cost relate to the production output?
In a perfectly competitive market, all n firms are equal. Thus, the market total cost is the total cost (TC) of one firm multiplied by the amount of n firms in the market Total Market Cost = n(TC) Total cost relates to output because firms want to make a profit. Profit = TR - TC where TR = total cost and TR = total revenue. Firms produce at the quantity which MR (marginal revenue) = MC (marginal cost). At this quantity, multiply it by n number of firms in the market to achieve the total output in a market.
Need for costing?
1) for cost control 2) comparison of cost with other firms 3) for cost reduction
How is a perfectly competitive firms marginal cost curve related to its supply curve?
a perfectly competitive firms supply curve will be the portion of the marginal cost curve which lies above the average variable cost curve (AVC)..this will be due to the firms unwillingness to supply below the price in which they could cover their variable costs
How does fixed sum tax affect firms fixed cost?
they don't
When a firms revenue from sales exceeds its cost of production it will earn?
Profit
How does an increase in wages affect a firms marginal cost curve?
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