Answer:
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Explanation:
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Answer:
- <em><u> Land, labor, and capital </u></em>
Explanation:
The <em>factors of production </em>are the resources that are used to produce goods and services.
By definition resources are scarce.
<em>Land</em> includes everything that comes from the land, that can be used as raw material to produce other materials; for instance, water, minerals, wood.
<em>Labor</em> is the work done by anybody, not just at a factory but at any enterpise that produce a good or a service. For instance, the work done by a person in a bank or a restaurant.
<em>Capital</em> is the facilites (buildings), machinery, equipments, tools that the persons use to produce goods or services. For instance, a computer, a chemical reactor, or a pencil.
Nowadays, also entrepreneurship is included as a <em>factor of production</em>, since it is the innovative skill of the entrepeneurs to combine land, labor and capital what permit the production of good and services.
The change in annual cost when Q is increased from 340 to 341 is -1.23 and the instantaneous rate of change when Q = 340 is -1.25
<h3>How to find the Instantaneous rate of change?</h3>
The annual inventory cost C for a manufacturer is given as;
C = (1012000/Q) + 7.5Q
where Q is the order size when the inventory is replenished.
Now, the change in C can be calculated by evaluating the cost function at Q = 340 and Q = 341
Change in C = [1,012,000/341 + 7.5*341] - [1,012,000/340 + 7.5*340] ≈ -1.23
Instantaneous rate of change in C is first order derivative C':
C'(Q) = -1,012,000/(Q²) + 7.5
C'(340) = -1,012,000/(340²) + 7.5 ≈ -1.25
Read more about Instantaneous rate of change at; brainly.com/question/14666106
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