Discuss how the 3-D printer is set to make manufactured goods more affordable for the average person in the United States
Please provide the best answer for the statement.
The 3-D printer is set to further reduce the cost of manufactured goods by eliminating two types of costs. The costs of large manufacturing plants and equipment will be unnecessary when an individual can produce a single product in their household. When the production takes place at the final location of the item, it will also eliminate transportation costs. While manufacturing and transportation costs will be greatly reduced, a new cost will appear. Companies may begin charging for the blueprints of their products. While this will be a new direct cost, it is expected that file sharing will make these blueprints relatively inexpensive.
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Suppose that one can read a graph that shows information about price and quantity of some product. Relying solely on the graph, is it possible to explain the relationship between the two variables?
How much investment carried out by an individual business firm depends upon its MRP and the _____________.
Fill in the blank(s) with the appropriate word(s).
Suppose a monopolist's demand curve is P = 60 - Q, its cost function is TC = 10Q + 50, and its marginal cost is 10. If a governmental agency wished to set the price so that it created the smallest deadweight loss without causing the monopolist to have negative economic profits, this price would be
A) $10.00. B) $11.02. C) $14.57. D) $35.00.
When Joe's Gas raises its price for regular unleaded gasoline, total revenue from regular unleaded gas falls to zero. It must be the case that
A. there are not many good substitutes for Joe's regular unleaded gasoline. B. the demand for Joe's regular unleaded gasoline is perfectly elastic. C. the demand for Joe's regular unleaded is inelastic. D. consumers are switching to premium grades of gasoline.