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2 years ago

can be useful in analyzing how a choice affects a particular market and shapes the economic system as a whole.

1 answer:

galina1969 [7]2 years ago

3 0

Microeconomics can be useful in analyzing how a choice affects a particular market and shapes the economic system as a whole.

The decision-makers are assisted by the study of microeconomics in analyzing and deciding how productive resources are distributed among various goods and services. Additionally, it aids in resolving the conundrum faced by producers on what to make, how much to produce, and for whom to produce.

<h3>What is the main purpose of microeconomics?</h3>

The allocation of resources for production, exchange, and consumption by individuals and businesses is the subject of microeconomics. The study of economy-wide aggregates is left to macroeconomics whereas microeconomics deals with the prices and production in individual markets as well as the interaction between different markets.

Businesses can better understand consumer spending patterns and motivations by using microeconomics. What is sold, how it is sold, and why it is sold can all be influenced by the science behind how customers and even businesses buy. Ultimately, supply and demand govern almost every aspect of the business.

Learn more about Microeconomics here:

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In the traditional labor model, the amount that an additional worker hired adds to the revenues of the firm is called the _____

Aloiza [94]

Answer:

The correct answer is marginal product.

Explanation:

The marginal product of labor is the change in the output or total product because of hiring an additional unit of labor. In other words, the amount that an additional worker adds to the revenue is its marginal product.

It can be expressed as,

$MP_{L} \ =\ \frac{\Delta Y}{\Delta L}$

The marginal product of labor depends on the quantity of capital and labor already employed.

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3 years ago

Which statement concerning process cost accounting is correct?

GalinKa [24]

I think the answer is C. Individual work in the process accounts are maintained for each production department of manufacturing process.

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Why should you always consider the opportunity cost when making a significant purchase?

vladimir2022 [97]

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3 years ago

Which of the following elements is exclusive to the services marketing mix, and not the traditional marketing mix?a) processb) p

Romashka-Z-Leto [24]

Answer:

a) process

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3 years ago

The accounts receivable turnover is computed as __________ divided by __________. sales; accounts receivable sales; average acco

tekilochka [14]

Answer:

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Explanation:

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