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3 years ago

Which best explains why producers choose to specialize? Check all that apply.

Business

1 answer:

Y_Kistochka [10]3 years ago

6 0

Answer:

1. to gain a comparative advantage

2. to increase efficiency

Explanation:

Specialization involves concentrating on producing a few items that once can produce better than others.

Specializing in producing a few preferred goods and services makes a person, company, or country more efficient in resource usage. They consume fewer inputs, such as labor, while making the goods and services. The use of fewer inputs is increasing efficiently, which makes their products cost less compared to competitors.

Specialization makes a company or individual an expert in what they do. Experts make quality products. High quality at competitive prices gains a country or company comparative advantage over the others.

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Alexandra has determined that studying an hour for her economics quiz will improve her grade on the quiz from 75 to 100. She als

Darina [25.2K]

Answer:

study when the hourly rate is below or equal to $20

Explanation:

Cosidering the economic principles of opportnity cost Alexandra will only study that extra time if the loss wages are less or equal to $20 dollars

as a higher hourly rate will make the $20 dollar she consider the change in grade worth it to leave a net loss after considering the implicit cost of the test

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3 years ago

A the production possibilities frontier (PPF) is bowed outward as a result of:_________

vodomira [7]

Answer: 2) increasing opportunity costs.

Explanation:

The Production Possibilities frontier is bowed out as it shows that for one more unit of a good to be produced, an additional unit of the other good must be given up.

This represents increasing opportunity costs because opportunity cost is the cost we incur for choosing one alternative over another. By producing more and more of one good, we give up more and more of the other good which means that our opportunity cost rises.

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3 years ago

Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting Brussels. Rent inco

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Answer:

a) The effect the rental activity has on Adelene's AGI is $0.

b) The total rental income is less than the total expenses for the year, so the reportable rental income is $0.

Explanation:

particulars amount amount

rental income $5,000

property taxes $3,800

mortgage interest $7,500

utilities $3,700

insurance $2,500

repairs $2,100

depreciation $15,000

total deduction $34,600

AGI $0

Therefore, The effect the rental activity has on Adelene's AGI is $0.

particulars amount

Real property taxes $3,800

mortgage interest $7,500

utilities $3,700

insurance $2,500

repairs $2,100

depreciation $15,000

total expenses $34,600

Therefore, The total rental income is less than the total expenses for the year, so the reportable rental income is $0.

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2 years ago

Iaci Company makes two products from a common input. Joint processing costs up to the split-off point total $42,000 a year. The

eimsori [14]

Questions

Iaci Company makes two products from a common input. Joint processing costs up to the split-off point total $42,000 a year. The company allocates these costs to the joint products on the basis of their total sales values at the split-off point. Each product may be sold at the split-off point or processed further. Data concerning these products appear below: Product X Product Y Total Allocated joint processing costs $22,400 $19,600 $42,000 Sales value at split-off point $32,000 $28,000 $60,000 Costs of further processing $11,600 $25,300 $36,900 Sales value after further processing $44,800 $53,200 $98,000 Required: (a) What is the net monetary advantage (disadvantage) of processing Product X beyond the split-off point?

Answer:

Net advantage from further processing $1,200 

Explanation:

A company should process further a product if the additional revenue from the split-off point is greater than than the further processing cost.

Also note that all the joint costs incurred up to the split-off point are irrelevant to the decision to process further any of the .

Net monetary advantage of product X

Sales revenue after the split-off point 44,800

Sales revenue at the split-off point (32,000)

Additional sales revenue 12,800

Further processing cost (11,600)

Net advantage from further processing 1,200

Net advantage from further processing $1,200 

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3 years ago

For many years there have been efforts to organize teaching assistants on college campuses and form a union. often these efforts

anygoal [31]

Social movement theory. Due to lack of resources, it is hard for these groups to form a union. To form a union and have a successful social movement, there needs to be an abundance of resources to successfully create a union. A union is formed when a group of workers want to protect their rights in the interest of labor.

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3 years ago