D. All of the Above, It's the safest thing to do
Answer:
Option d: Production function describes the maximum output that can be achieved with any given combination of inputs. An isoquant identifies all of the different combinations of inputs that can be used to produce one particular level of output.
Explanation:
Factors of Production
They includes Inputs in the production process (labor, capital, materials)
Production Function
This simply is that function that is displaying or showing highest output firm can produce. It depicts what technically feasible is and when firm operates efficiently.
Isoquant
This is simply refered to as a curve tbat depicts or shows all possible efficient combinations of input that are very able to produce a certain quantity of output. It usually a downward sloping and convex and it can never slope upward. This shows also that adding more inputs keeps output constant.
Isoquant Map
This is simply a graph showing a combination of a number of isoquants, used to describe a production function.
Answer:
Al
Explanation:
In order for a contract to be formed, both parties must reach an agreement (usually through offer and an acceptance of terms). The offer made by Greta was a $50 reward for her missing dogs, Al and Ben agree to the contract by searching for the dogs. Since Al finds and returns one of the Dogs, Greta has an obligation to pay Al. As for Ben, since he failed to meet the terms, he should not be paid. On the other hand, since Charlie never saw the posters, there was no contract formed because he could not possibly agree to terms he was not aware, and Greta has no legal obligation to pay Charlie.
Therefore, Greta has a legal obligation to pay Al.
Answer:
c) buying a bond for $ 1,000 with the expectation of selling it in a year for $ 950
c) putting $ 1,000 in a savings account that has a 2.25 % interest rate and no service fee while expected inflation is 3.25 %
Explanation:
For the first question all are negative returns as the account will charge service but earn no interest, the euro will depreciate and the bond will be sale below par. The correct option would be do nothing and keep the 1,000 dollars but, being forced to pick among these three option then, purchase the bond is better.
For the second question the third option has an inflation which is similar to the annual service charge but, earn interest therefore will provide a better return as the interest compensate a portion of the inflation loss.
Yes, Jerry is likely to qualify, since his yearly income is below the median annual income of New Mexico.
