Which of the following statements is CORRECT?

If the same number of units of good Y must be given up as each successive unit of good X is produced, then the PPF for these two

andrey2020 [161]

Answer:

PPF : Downward Sloping Straight Line

Explanation:

PPF is the locus of product combinations that an economy can produce, given resources & technology.

It is downward sloping : Because of inverse relationship between two goods- if one has to be increased other has to be decreased , because of same resources & technology.

Marginal Opportunity Cost (Slope of PPC): is ratio of a good sacrifised to gain each additional unit of the other good.

∆ Good sacrifised / ∆ Good gained

If this ratio is same i.e constant amount of a good is sacrifised to gain an additional amount of the other one , the slope of PPC is constant & it is a straight line

Eg : Good1 Good2 MOC [∆Good2/∆Good1]

0 20 _

10 10 -10/10 = -1 (10-20)/(10-0)

20 0 -10/10 = -1 (0-10)(/20-10)

So , same (1) good 2 is sacrifised to attain a good 1 each time.

However Generally: MOC is increasing , because of assumption that resources are unequally efficient in various goods production - shifting good from efficient to inefficient increases sacrifise each time. This makes PPC usually concave.

5 0

3 years ago

Because advertising is often designed to add ________ value to a product or brand, it plays a more important communications role

nikdorinn [45]

Answer:

Psychological value

Explanation:

Psychological value :

In psychology Value alludes to the relative significance that an individual places on a thing, thought, individual.

The term value has two related at this point particular implications. In its social-mental significance, conversely, a worth is a dynamic, attractive end express that individuals take a stab at or plan to maintain, for example, opportunity, dedication, or convention.

7 0

3 years ago

Define Moore’s Law and explain why its consequences are important to business professionals today. State how business profession

balandron [24]

Answer:

Explanation:

1)Moore's Law was created by Gordon Moore, the co-founder of Intel Corporation. Moore's Law states that the speed of a computer doubles every 18 months. Because of Moore's Law, the ratio of price to computer performance has fallen and the cost of storage, data processing, and communication have dropped to nearly zero and any routine skill can be outsourced to the lowest bidder.

2)The text defined job security as a "marketable skill and the courage to use it". To attain job security, business professionals should develop their non-routine cognitive skills such as collaboration, the ability to experiment, systems thinking, and abstract reasoning. This course in introductory MIS requires students to learn these four keys skills because every topic will require us to apply and practice these skills.

3)1. Course gives students necessary background to assess, evaluate, and apply emerging information technology to business

2. Course leads the path to job security by educating students in marketable skills

3. Numerous MIS jobs are available

7 0

4 years ago

produces decorative mailboxes. The company's average cost per unit is $ 23.43 when it produces 1 comma 400 mailboxes. Requireme

lianna [129]

Answer:

1) The total cost of production (TC) is $32,802.

2) The variable cost per unit is $9/unit.

3) Cost equation: $TC(Q)=20,200+9Q$

4) TC=$35,145

5) TC=$33,702

6) Difference=$1,443

The appropiate approach is using the cost function, because its differentiates the cost that are fixed and not dependant of the volume of production, and the variable cost, that are proportional to the quantity produced.

Explanation:

1) The total cost of production can be calculated as the product of the cost per unit ($23.43/unit) and the total ammount of units (1,400 units):

$TC=c*Q=23.43*1,400=32,802$

The total cost of production (TC) is $32,802.

2) The fixed cost (FC) are $20,202, so the variable cost are:

$VC=TC-FC=32,802-20,202=12,600$

This is the variable cost for 1,400 mailboxes, so the unit variable cost is:

$vc=VC/Q=12,600/1,400=9$

The variable cost per unit is $9/unit.

3) The equation of cost can be written as:

$TC(Q)=20,200+9Q$

4) If it uses the average cost tot predict the cost of 1,500 mailboxes, he will get:

$TC=23.43*1,500=35,145$

5) If he uses the cost function, he will get

$TC=20,202+9*1500=20,202+13,500=33,702$

6) The dollar difference between the two estimates is:

$TC_4-TC_5=35,145-33,702=1,443$

The appropiate approach is using the cost function, because its differentiates the cost that are fixed and not dependant of the volume of production, and the variable cost, that are proportional to the quantity produced.

The average cost per unit is not constant for every quantity and the error will increase if the quantity is much different from 1,300 units.

3 0

3 years ago

True or false: The initial result of the Hawthorne studies demonstrated that no matter what the levels of light and noise were,

insens350 [35]

Answer: True

Explanation:

The Hawthorne studies were designed originally in order to show the relationship that existed between productivity and the workplace conditions.

A study like the the level of lighting was used to show correlation with the productivity of the workers and the result was that demonstrated that no matter what the levels of light and noise were, there was an increase in the worker productivity because the workers liked the attention they received by being part of a study.

8 0

3 years ago