Factor Using the Binomial Theorem $x ^ { 4 } + 4 x ^ { 3 } y ^ { 2 } + 6 x ^ { 2 } y ^ { 4 } + 4 x y ^ { 6 } + y ^ { 8 }$

question 11

Essay

Factor using the Binomial Theorem. $x ^ { 4 } + 4 x ^ { 3 } y ^ { 2 } + 6 x ^ { 2 } y ^ { 4 } + 4 x y ^ { 6 } + y ^ { 8 }$

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Definitions:

Diminishing Returns

A principle in economics where each additional unit of input yields less and less extra output.

Average Variable Cost

The total variable cost divided by the number of units produced, representing the variable cost per unit of output.

Purely Competitive Market

A market structure characterized by a large number of sellers offering identical products, where no single seller can influence the market price.

Average Fixed Cost

The costs in production that remain constant regardless of output level, when divided by the produced output quantity.