Answer:
the low opportunity cost producer.
Explanation:
A person or nation has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries or people.
For example, let's assume country x produces either 10 Apples or 5 oranges in 1 hour while country y produces either 20 Apples or 2 oranges in one hour. The opportunity cost for country x of producing apples and oranges are 0.5 and 2 respectively. While for country y, the oopportunity cost of producing apples and oranges are 0.1 and 10 respectively.
Country y has an opportunity cost and comparative advantage in the production of Apples while country x has a comparative advantage in production of oranges.
I hope my answer helps you
Answer:
1/4
Explanation:
MPC = dC/dY
dC is the change in consumption
dY is the change in demand for goods and services.
MPC = 15/60 = 1/4
If allowance is made for crowding out, the new estimate will be larger.
Banks offer higher interest rates for savings and checkings accounts C) to encourage people to put money in savings and checking accounts. By offering money back for the amount of money put into a savings or checking account it creates a habbit for people to open these accounts and deposit their money into them. It allows the bank to 'own' the money and it allows those with the accounts to make some money while it's deposited in there.
Answer:
<h2>In this case,the answer would be option C. or The firm should increase capital and decrease labor, because labor produces less per dollar spent.</h2>
Explanation:
- In this case,the productivity of labor for per dollar spent is less than the marginal productivity of telephone answering machine for per dollar spent.
- Here,one worker can handle an additional 10 orders per hour at the cost of $15 per hour.The productivity of labor per dollar spent by the firm or company=
. - One answering machine can handle an additional 20 calls per hour at the cost of $10 per hour.Hence,the productivity of telephone answering machines per dollar spent by the firm or company=
. - Hence,based on the comparison between the productivity per dollar spent,the firm or company hire more telephone answering machines and decrease the amount of labor to reduce the overall cost of production or operation.
