Answer:
cannot be reduced by producing less output.
Explanation:
In the case of the fixed cost of production that lies in the short run does not decreased while generating the lower output as the fixed cost are considered to be the independent on the other hand the variable cost changes with the output. Moreover, the total cost could be divided into the fixed cost where the firm could incurred prior generating an output
So the above statement should be considered
Answer:
C) The theory of Comparative Advantage
Explanation:
The theory of Comparative Advantage is a theory of international trade and it comes into effect in a situation where the <u>opportunity cost of producing a good or offering by a service by a country is lower than that of other countries. </u>
Specifically, to understand the theory of comparative advantage the opportunity cost of production or offering a service has to be measured in terms of the trade off between those countries. It simply means when a country has the comparative advantage then it derives more benefits from other countries buying its products as compared to buying their products and vice versa.
In the question, the European Union has the Comparative advantage over South Africa because the trade-off between buying South Africa's edible fruits and nuts and selling other products to South Africa benefits the European countries.
European countries derive more benefits because South Africa buys their goods at a cost higher than it takes them to produce while they buy at the normal cost from South Africa. The <u>trade-off benefits Europe </u>
Answer:
d. Hubris trap
Explanation:
The main problem that Louis Borders experienced was that he was a victim to hubris. Hubris is another word for arrogance. The hubris trap often involves entrepreneurs who are very successful in one of several ventures. In the case of Borders, this was his success in the bookselling industry. However, people who are successful once might become overly-confident. This was the case with Webvan, which eventually declared bankruptcy.
Answer:
D. increase their hostility
Explanation:
Based on the information provided within the question it can be said that the research suggests that this opportunity to vent anger will increase their hostility. This is mainly due to the fact that they will express their anger after being laid off and when that does not yield results, they will begin to feel powerless and thus increase their anger and hostility.
Answer:
An increase in the quality of education would increase human capital. This would lead to an outward shift of the production possibilities curve
b. If the number of unemployed workers increases, there would be no change in the labour force. the production possibilities curve would not be affected
c. The new technology is technological advancement. Technological advancement leads to an outward shift of production possibilities curve
d. The earthquake would destroy capital stock and resources needed in the production process. As a result, production possibilities curve would shfit inward
Explanation:
The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.
As more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.
