Classify the Following as Fixed or Variable Costs

By Vi_Yazmin901 18 May, 2022 Post a Comment

In a capitalist society prices are. In order to minimize costs producers must know the prices of the resources.

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If these resource prices are determined by demand and supply then they will reflect the relative scarcity of the resources and their relative importance more scarce and important resources will have a higher price and the economy can achieve productive efficiency.

. While light rail vehicles are more expensive to buy they have a longer useful life. Compared to buses costs can be lower due to lower labor costs per passenger mile higher ridership observations show that light rail attracts more ridership than a comparable bus service and faster average speed reducing the number of vehicles needed for the same service frequency.

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