Answer:
opportunity cost = 30,000
Explanation:
The opportunity cost is the return in the alternative investment:
250,000 x 12% = 30,000 opportunity cost
The economic profit would be the lease less the opportunity cost
35,000 - 30,000 = 5,000 economic profit
<u>Note: If there was two or more alternatives, </u>we should pick the investment with the highest yield.
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:
Drive to Maturity
Explanation:
According to my research on Rostow's five-stage model of economic development, I can say that based on the information provided within the question the stage being mentioned is the Drive to Maturity Stage. This stage is described as when society integrates modern technology to it's plans and resources. Which is also known as the industrialized economies as mentioned in the question. Korea and the Czech Republic are examples of these industrialized economies.
I hope this answered your question. If you have any more questions feel free to ask away at Brainly.
Answer:
Law
Explanation:
According to the law of comparative advantage, a country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
For example, country A produces 20kg of beans and 10kg of rice. Country B produces 10kg of beans and 20kg of rice.
for country A,
opportunity cost of producing beans = 10/20 = 0.5
opportunity cost of producing rice = 20/10 = 2
for country B,
opportunity cost of producing rice = 10/20 = 0.5
opportunity cost of producing beans = 20/10 = 2
Country A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice
Harmon would consider the number of competitors, entry barriers, and product substitutes.
Explanation:
The planned movement of a company into new markets, the development of new product lines, the use of more effective marketing techniques or other methods that make the business more voluminous from a niche market.
Total market opportunity is calculated by multiplying the retail consumers by the average buyer by the price of one unit of the drug.
The ability to develop is often a barometer for the appetite of private and public creditors and risk capitalists.
