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3 years ago

An isocost line is a curve that shows all combinations of labor and capital that are available for a given total cost

Business

1 answer:

nirvana33 [79]3 years ago

6 0

Answer:

The above statement is TRUE

Explanation:

Isocost Line shows input/factor combinations (here - labor & capital) which are of same Total Cost / budget to the producer , given factors price .

It is analogous to Consumer's Budget Line Constraint (representing product combinations satisfying their income budget) .

It is an important component of Producer's Equilibrium : Producer is at equilibrium where Isocost is tangent to Isoquant (representing input/ factor combinations yielding same level of production quantity - analogous to consumer's indifference curve showing production combinations offering same consumer satisfaction) .

Tangency of Iscost line to Isoquant curve gives Producer Equilibrium .

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An essential part of a market economy is the expectation, in both producers and consumers, that they will be able to keep and us

Hatshy [7]

The answer property right. The property rights denote to the theoretic and legal proprietorship of precise property by personalities and the capability to define how such belongings is used. In many countries, together with the united states individuals usually exercise private property rights which is the rights of private persons to mount up, hold, delegate, rent or sell their property. In economics, property privileges form the basis for all market altercation and the distribution of property rights in a civilization affects the competence of reserve use.

7 0

3 years ago

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When people seek information to support their point of view and discount data that do not, they are subject to ______ bias. For

alisha [4.7K]

Answer:

Confirmation bias.

Explanation:

Confirmation bias is defined as the tendency for an individual to recall and favour information that confirms one's previous beliefs or hypothesis. It is a form of cognitive bias.

In the given example Joe only accepted information that would confirm his belief that there are fewer cars on the road (that is his commute is now shorter).

He however rejected the information that he now works the night shift, a period when traffic is low.

5 0

2 years ago

Information necessary to prepare the year-end adjusting entries appears below. Depreciation on the office equipment for the year

lisov135 [29]

Answer:

Journal entries

Dr Depreciation expense 10,500

Cr Accumulated depreciation office equipment 10,500

Dr Salaries and wages expense 1,000

Cr Salaries and wages payable1,000

Dr Interest expense1,530

Cr Interest payable1,530

Dr Interest receivable 1,400

Cr Interest revenue 1,400

Dr Prepaid insurance 8,750

Cr Insurance expense 8,750

Dr Supplies expense 380

Cr Supplies 380

Dr Sales revenue 1,400

Cr Deferred revenue 1 400

Dr Rent expense 700

Cr Prepaid rent 700

Explanation:

Calculation for Interest expense

($51,000 × 12% × 3/12) = $1,530

Calculation for Interest receivable ($21,000 × 8% × 10/12) = $1,400

Calculation for Prepaid insurance ($7,000 × 15/12) = $8,750

Calculation for Supplies expense ($1,000 − 620) = $380

4 0

3 years ago

Help please economic government matching card game there are 10 matches

kobusy [5.1K]

A theocracy is the rule of a religious authority. Think theology, or theologian.

A monarchy is rule via heredity, such as in a kingship. Monarchies often go hand in hand with religion, such as the case of the Shah of Iran, the Pharaohs of Egypt, as well as kings and queens virtually everywhere throughout all time.

A democracy is rule of the people, although I would not choose to phrase it that way.

Voluntary exchange between buyer and seller would be capitalism.

A dictatorship is authoritarian.

Collective ownership is communism.

I can't read what's on the left, but you can use process of elimination.

6 0

3 years ago

Jenson is a senior-level manager in his organization. He makes strategic-level decisions to improve the sales or to increase the

MissTica

Answer: Management information system

Explanation:

The information system that reflect the strategic decisions that Jenson makes as a senior manager is the management information system.

Management Information System is simply referred to an information system that is used to make decisions and also used for analysing and coordinating information in the organization. It studies the relationship and interaction that exist between the people and the organization.

7 0

2 years ago

Read 2 more answers