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Marrrta [24]
3 years ago
12

A firm has a production process in which the inputs to production are perfectly substitutable in the long run. Can you tell whet

her the marginal rate of technical substitution is high or​ low, or is further information​ necessary?
Business
1 answer:
Alik [6]3 years ago
8 0

Answer:

The marginal rate of technical substitution will remain constant.

Explanation:

The marginal rate of technical substitution is the rate at which an input is substituted for others. For instance, it is the rate at which the amount of labor should be decreased to increase the amount of capital.  

It represents the slope of an isoquant. When the inputs are perfectly substitutable, the isoquant is a straight line. In this situation, the marginal rate of technical substitution remains the same at all the points of the isoquants. The MRTS remains constant, though further information is needed to find out if it is high or low.

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Diminishing returns set in after the ________ truck is purchased.
Nataly_w [17]

The answer in the space provided is second. The diminishing returns set happens when there is an increase with the input variable and by this, it will likely cause the output to decrease as the marginal increase and in the same time, other inputs remains to be in constant.

8 0
3 years ago
The Tanner Company's April 30 pre-reconciliation cash balance on its books was $35,000. While preparing the April 30 bank reconc
Natalija [7]

Answer:

$38,950

Explanation:

Given that,

Cash balance on its books = $35,000

Outstanding checks = $11,000

Deposits in transit = $7,000

Bank service charges = $50

Tanner's April 30 cash balance per the bank statement:

= Cash balance in books + outstanding checks - Deposits in transit - Bank service charge

= $35,000 + $11,000 - $7,000 - $50

= $38,950

Therefore, cash balance as per bank statement is $38,950.

6 0
3 years ago
After John worked at a job for 10 years, his salary doubled. If he started at $x, his salary after 10 years is _____.
arlik [135]
What does it mean that his salary doubled?

this means that for example, if it was 1000 dollars, it would be 2000 dollars now, and it if was 2000 dollars, it would be 4000 dollars now.

This can be written down as $2x where x is the initial salary.  (so if x=1000, the new salary is 2x=2*1000=2000
8 0
3 years ago
Read 2 more answers
Melanie needs to ensure that readers are able to locate specific sections within a document easily. What should she include in t
frutty [35]

Answer:

table of contents

Explanation:

Table of contents, usually put at the beginning or end of a document, lists the chapter and section of the document, together with their page numbers. This is the widely used method that makes literature more readable and searchable.

So, Melanie needs to create a table of contents, so her readers will be able to find specific sections after glancing at it.

3 0
3 years ago
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Adam Smith believed that _____________ would lead to the production of items that consumers want.
Allisa [31]

Answer:

a. self interest

Explanation:

Adam Smith was a Scottish political economist, social and moral philosopher, author and he is famously considered to be the father of modern economics. Smith was born on the 5th of June, 1723 in Kirkcaldy, United Kingdom and he died on the 17th of July, 1790 in Panmure House, Edinburgh, United Kingdom.

In his first book titled, "The Theory of Moral Sentiments" which was published in 1776, he proposed the idea of an invisible hand, based on the tendency of free market economy to regulate or self-adjust themselves through demand and supply, competition, and self interest.

Hence, Adam Smith believed that self interest would lead to the production of items that consumers want.

6 0
3 years ago
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