A Firm Faces a Cost Function of C(y)= 2000

question 82

Essay

A firm faces a cost function of C(y)= 2000 + 25y + 10 y² . What is the average variable cost of producing 200 units? what is the marginal cost?

Differentiate between functional, divisional departmentation, and the role of total quality management in organizations.

Understand the impact of an individual's incapacity (due to age, mental condition, or intoxication) on the enforceability of contracts.

Recognize the legal implications of misrepresenting one's age when entering contracts and the concept of necessaries.

Comprehend the concept of ratification and its effect on minors' contracts once they reach the age of majority.

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Definitions:

International Development

Refers to the process of improving the economic, social, and political conditions of countries, especially those that are less developed, to achieve sustainable growth and improve quality of life.

Foreign Aid

Financial support provided by one country to another to help in development or in times of crisis.

Multilateral Assistance

Financial aid provided by multiple countries or international institutions to support the economic, environmental, social, and political development of developing countries.

International Bodies

Organizations formed by multiple nations to address global issues and facilitate international cooperation, such as the United Nations.