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Gekata [30.6K]
3 years ago
13

The productivity gains achieved by specialization are due to A. comparative advantage. B. lower opportunity costs from switching

production from one good to another. C. scarcity. D. absolute advantage.
Business
2 answers:
Bingel [31]3 years ago
5 0

Answer:

The correct answer is letter "A": comparative advantage.

Explanation:

Comparative Advantage is an individual, business, or country's ability to produce a good or service at a lower cost of opportunity than its competitor. Getting a comparative advantage does not mean that one organization is completely better at producing a good or a service than another. It implies that it sacrifices less to do so. Comparative advantage allows firms to specialize in the manufacturing of the goods or services being produced at a lower cost.

Ronch [10]3 years ago
4 0

Answer:

Comparative advantage.

Explanation:

Comparative advantage is the ability to produce good and services at a lower opportunity cost compared to others , leading to lower selling price and competitive advantage over others .

Specialization is about concentrating on producing a few products in order to

build brands , expertise and gain maximum productivity leading to a reduction in selling price and  a comparative advantage.

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Describe the two basic kinds of energy and explain how energy and power are related.
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3 years ago
The United Kingdom started regulating the size of grocery stores in the early​ 1990s, and​ today, the average size of a typical
Svetradugi [14.3K]

Answer:

C. The​ long-run average cost of production for U.K. grocery stores is lower if there are diseconomics of scale.

Explanation:

The diseconomy of scale is called the effect that occurs in the costs of a given production. These effects generate increasing costs for the company for each unit of product that is manufactured. Specifically and technically, a diseconomy of scale occurs when a percentage increase in production is less than the percentage increase in inputs.

Since the size of the grocery stores decreases, the average costs decreases. So, The​ long-run average cost of production is lower when there are diseconomics of scale.

Hope this helps.

0 0
3 years ago
What is the common term for the endline in soccer?
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8 0
3 years ago
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A firm is producing 24 units of output. At the 24th unit of output, marginal revenue is $5, and marginal cost is $4; at the 25th
agasfer [191]

Answer:

False.

Explanation:

(1) Units produced = 24 units of output

At the 24th unit of output,

Marginal revenue = $5

Marginal cost = $4

MR ≠ MC

At the 25th unit of output,

Marginal revenue = $4.50

Marginal cost = $4.50

MR = MC

At the 26th unit of output,

Marginal revenue = $4

Marginal cost = $5

MR ≠ MC

A firm maximizes its profit at a point where the marginal revenue is equal to the marginal cost i.e. MR = MC.

It is clear from the above scenario that this firm doesn't stop at 24 units of output because at this point of production profit maximizing condition is not fulfilled which means MR ≠ MC.

This firm should stopped at 25 units of output where marginal revenue is equal to the marginal cost from the 25th unit of output.

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3 years ago
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