Abaseball manufacturer is currently producing 10,000 baseballs. at this production level, marginal cost is $2.50 and average total cost is $2.00. baseballs sell for $3.00 at this production level, and marginal revenue is $2.25. from this information, we can conclude that

The baseball manufacturer should reduce his production to maximize profits

Explanation:

To see why we can use a standard cost curve plots, like the one attached.

At the production level Q=10,000 the Marginal cost (2.50) is above the average total cost (2.00), that means that production is to the right of the optimal. We can also infer from the  problem that the Marginal Revenue (2.25) is less that the Marginal Cost (2.50

Remember that producer maximize at the point where Marginal Revenue equals Marginal Cost and this is equal to the minimum of average total cost.

To get to the point where Marginal Cost= Min Av Total Cost production should move to the left as shown in the plot

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; /// multipotentialite means a person who have many different interests and creative pursuits in life; (one true calling);

polymath; means a person   of wide-ranging knowledge or learning;

scanner; means; a device that captures images from photographic prints,posters,magazine pages.ect;