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Explain why the marginal cost curve intersects the average cost curve at its minimum point?

Marginal cost (MC) is the extra cost incurred when one extra unit of output is produced. Average product (AC) is the total cost per unit of output. When the MC is smaller the AC, the AC decreases. This is...

DN
Answered by Diveena N. Economics tutor
153925 Views

Define schema theory

Schemas are our mental representations of knowledge based on our culture and based experiences. Schema theory is the idea that our schemas are integrated with information if there are blanks or unfamiliar...

CS
Answered by Conner S. Psychology tutor
10021 Views

What are the similarities and differences between mitosis and meiosis?

Mitosis is the process by which a cell divides to give rise to two identical diploid daughter cells and is how all somatic cells are produced. Meiosis is the process by which a cell gives rise to four gen...

NS
Answered by Natasha S. Biology tutor
18706 Views

What is Rawls' Difference Principle? Why do people say it is not egalitarian?

John Rawls' vision of distributive justice entails his Difference Principle. The Difference Principle permits diverging from strict equality so long as the inequalities in question would make the least ad...

AK
Answered by Amrita K. Philosophy tutor
9938 Views

Why does the equation for gravitational potential energy give a negative value if energy cannot be negative.

The equation is shown below as found in the IB Physcis Data Booklet.

GPE = -GMm / r

Where GPE is gravitational potential energy, G is the gravitational constant, M and m are the mas...

WL
Answered by William L. Physics tutor
5233 Views

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