Answer: (D.) All of the above are correct.
Explanation: If the factors of production are perfect substitutes then the following will hold true :
A. Isoquants are linear and downward sloping.
B. Cost-minimizing firms will generally use only labor or only capital in production, depending on the relative prices of labor and capital.
C. The elasticity of substitution between the inputs is infinite.
Emergency funds are used for anything not planned. C is the only one that is “planned” so that has to be the correct answer. C.
If you are an employee who is not working on a commission basis, then most likely, you are working as a salary based employee. Your salary would usually be based on your going rate or your market value to the employers. Based on your caliber, the employers will decide what your salary would be. For example, if you are a fresh grad, you will start with an entry level salary while if you are a manager, you will obviously be receiving a higher salary.
Answer:
An oligopoly is a market sector where very few people can compete with
Example would be where a market has 50 competitors and 3 markets make up 90% of the market, therefore it is an oligopoly
Explanation:
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
