Answer:
Unique skills and personality
Explanation:
Every potential founder or entrepreneur have skills and personality unique to them. However, as a founder, one would hardly rely on combination of skills but a unique skill that will make him concentrate and make his business efficient.
Businesses need different skills to grow hence requires business founders to have a unique skill and personality and tailor them to the business. As a business continues to grow, it will get to a point where not just having skills will be enough but the unique and relevant skill that will help to create a more efficient and capable business .
Also as a business founder, one would likely perform different roles as at when required. However, one would discover that he is better on some roles compare to other roles due to having this unique skills and personality hence performs optimally.
Answer:
The correct word for the blank space is: military.
Explanation:
The U.S. Special Operations Command or USSOCOM's primary mission is to organize train and equip military special operation forces (SOF) and provide such powers to commanders of the Geographical Combatant under whose operational control they operate.
From the calculation below, the profit-maximizing labor input is 0.0625, and the profit of the firm is 0.125.
<h3>How do we determine profit-maximizing labor input and profit?</h3>
From the question, we can obtain:
R = Revenue = Q*P = L^0.5 * 1 = L^0.5
C = Cost = w * L = 2L
P = Profit = R - C = L^0.5 - 2L
To obtain the profit-maximizing labor input, the first derivative of P is taken, equated to zero, and we solve for L as follows:
P' = 0.5L^-0.5 - 2 = 0
0.5L^-0.5 = 2
L^-0.5 = 2 / 0.5
L^-0.5 = 4
L^(-0.5/-0.5) = 4^(-1/0.5)
L = 0.0625 ----> profit-maximizing labor input
The profit (P) of the firm can now be calculated by substituting L = 0.0625 into the P function as follows:
P = 0.0625^0.5 - (2 * 0.0625) = 0.125 --------> Profit of the firm
Learn more about profit function here: brainly.com/question/16866047.
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Answer:
d. Matt's statement is positive while Jean's statement is normative
Explanation:
A positive statement can be defined as any statement that is typically based on empirical evidence and as such can be tested, proven and verified. Also, a positive statement can be amended or rejected based on evidences that are available.
On the other hand, a normative statement can be defined as any statement that can't be tested, proven or verified because it is judgmental and based on opinions.
In this scenario, Matt observes that "there is a high correlation between educational attainment and the level of income." Jean concurs and adds that "high school graduates should all proceed to college"
Hence, Matt's statement is positive because it is an observation based on empirical evidence while Jean's statement is normative because it's simply his opinion or a value judgment.
Answer: Option (a) is correct.
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded with change in the income level of an individual.
Income of an individual has a positive relationship with the demand for normal goods and has a negative relationship with the demand for inferior goods.
