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rusak2 [61]
3 years ago
13

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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Using the same resources, the country of Zanzibarus produces 12 million pounds of beef or 5 million pounds of pork. Zanizibarus
aksik [14]

Using the same resources, the country of Zanzibarus produces 12 million pounds of beef or 5 million pounds of pork. Zanizibarus has a (n) Comparative Advantage in beef in contrast with pork production. This is further explained below.

<h3>What is Comparative Advantage?</h3>

Generally, Superior performance in one economic activity (such as the production of one product) over another.

In conclusion, Using the same amount of resources, the nation of Zanzibar can produce 12 million lb of beef or 5 million lb of pork. Zanzibar has an n-Comparative Advantage in the beef market compared to the pork market.

Read more about Comparative Advantage

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7 0
2 years ago
N the knowledge economy, if a large portion of company value is in intellectual and human assets, the difference between the mar
Stells [14]

It will be expected that the difference between a company's market value and book value should <u>be larger than</u> a company with mostly physical and financial assets if the large portion of company value is in intellectual and human assets.

<h3>What is an intellectual/human assets?</h3>

These are asset possessed by a firm that ranges from human capital, information capital, brand awareness, instructional capital etc.

These are assets that can be improved when a firm hires better employees, conduct training programs, develops new patents etc

In conclusion, since the large portion of company value is in intellectual and human assets, then, the market/book value would be larger than a company with mostly physical/financial assets.

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7 0
3 years ago
When mcdonald's and other fast food restaurants offer "value menu" items at surprisingly low prices, they are most likely using
Kryger [21]

This is good-value pricing

5 0
3 years ago
Read 2 more answers
The petroleum industry uses deep-well injection to dispose of its hazardous waste. though the wastes are pumped into porous rock
djyliett [7]
The answer to this question is that "they are beneath the aquifers" that is why industries considered them safe to the environment and to the health of the people. The petroleum industries use deep-well injection to dispose of its hazardous wastes. Though the wastes are pumped into porous rock, the petroleum industry claims the wells are safe because they are located beneath the aquifers.
8 0
3 years ago
In Mark's absence, what source of power does Sherry have in enforcing Ollie's holiday scheduling policy?
Anna007 [38]

Answer: Legitimate power

Explanation:

The source of power that Sherry has in enforcing Ollie's holiday scheduling policy is refered to as the legitimate power.

Legitimate power simply means the power that one has based on the formal position that is being held by the person in an organization. This usually applies to person who are in position of authority in the organization.

Therefore, the correct answer is legitimate power.

4 0
3 years ago
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