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Lynna [10]
3 years ago
8

Suppose that an economy produces 2400 units of output, employing the 60 units of input, and the price of the input is $30 per un

it. Refer to the information above. If productivity increased such that 3000 units are now produced with the quantity of inputs still equal to 60, then per-unit production costs would:
Business
1 answer:
lesya [120]3 years ago
3 0

Answer:

The answer is: The per unit production cost would be $48

Explanation:

If productivity increased by 25% so now 3000 units are being produced with the same input (60 units) then the per unit production cost will be:

         3,000 / 2,400 = $60 / X

         3,000X = (2,400 x $60) = $144,000

         X = 144,000 / 3000 = $48

If productivity increases, then the per unit production cost decreases.

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  • Monopolistic competition: A situation in which many firms with slightly different products compete. Production costs are above what may be achieved by perfectly competitive firms, but society benefits from the product differentiation.
  • Monopoly: A firm with no competitors in its industry. A monopoly firm produces less output, has higher costs, and sells its output for a higher price than it would if constrained by competition. These negative outcomes usually generate government regulation.
  • Oligopoly: An industry with only a few firms. If they collude, they form a cartel to reduce output and drive up profits the way a monopoly does.
  • Duopoly: A special form of Oligopoly, with only two firms in an industry.
  • Monopsony: A market with a single buyer and many sellers.
  • Oligopsony: A market with a few buyers and many sellers.
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3 years ago
You decide that you need more information on how employees feel about diversity, so you create a paper and pencil survey on empl
fgiga [73]

Answer:

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Explanation:

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Discrimination in labor markets, occurs when workers who have the same skill levels by education, experience, and expertise receive different pay because of their race or gender.

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3 years ago
Connie stepped in to assist her friend Fred to conduct his research plan for his business. He is trying to see where he should o
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kykrilka [37]

Answer:

the correct answer is D, product market.

Explanation:

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An adequate supply of complements to a product results in: a. more customers opting for the product. b. higher switching costs.
Rama09 [41]

Answer: a. more customers opting for the product

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