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3 years ago

Upon what specific assumptions is this production possibilities curve based?

Business

1 answer:

mihalych1998 [28]3 years ago

3 0

Answer:

C. Full employment, fixed supplies of resources, fixed technology, and two goods

Explanation:

Production Possibility curve: It is a curve that shows all possible combinations to the amounts of the two goods that can be produced with the available resources and technology.

In simple words, all resources which are used to produce the possible combinations are called full employment. Thus, these specific assumptions plays vital role in production possibilities curve.

So, A, B, and the D are incorrect options.

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Definition of economic costs

crimeas [40]

Answer:

1. I grouped the costs into explicit and implicit costs below

2. accounting profit = 89000

3. economic profit = 3000

4. daniel should stay in the piano business

Explanation:

explicit costs include:

1. The wholesale cost for the pianos that Darnell pays the manufacturer at $452000

2. The wages and utility bills that Darnell pays at $301000

the implicit costs include:

1. The salary Darnell could earn if he worked as an accountant at $48000

2. The rental income Darnell could receive if he chose to rent out his showroom at $38000

accounting profit:

842000-452000-301000

= 89000

economic profit:

842000-452000-301000-48000-38000 = 3,000

as an accountant economic profit:

48000+38000-89000

= -3000

so he should stay in the piano business so that economic profit would be maximized.

6 0

3 years ago

The basic difference in the economic effects of a tariff compared with a quota is that a:

Paul [167]

The basic difference in the economic effects of a tariff compared with a quota is that tariff is more likely to generate revenue for the government. Both of tariff and quota are forms of governmental regulation for protecting the international trade with other countries. Tariff is undertaken by government to protect the international trade by maintaining the tax rate of the trade. Quota is undertaken by government by maintaining the quantity of the items in the trade. These regulations impact importers or exporters in a country.

8 0

3 years ago

If the United States wanted to reduce the cost of its goods in foreign markets, it could ________ its currency.

Kruka [31]

Answer:

Devalue its currency

Explanation:

Exchange Rate is the conversion rate of domestic & foreign currency.

Eg $1 = _ € .

Devaluation means deliberate fall in value of domestic currency in terms of foreign currency (increase in foreign exchange rate) , under fixed exchange rate by government.

Eg : $1 = 5€ - change to - $1 = 7€ . This implies dollar can purchase less amount of euro , and has depreciated.

However , this would also lead to reduce the cost of its exports in foreign (here European market) , because US $ has become cheaper in terms of their currency & hence so have been their goods.

3 0

4 years ago

You purchase 150 shares for $70 a share ($10,500), and after a year the price rises to $80. Calculate the percentage return on y

Lyrx [107]

Answer:

57.14%

Explanation:

Missing word "25 percent."

Gain on the stock = (150*$80) - $10,500

Gain on the stock = $ 12,000 - $10,500

Gain on the stock = $1,500

If Margin requirement is 25%, The Margin = 10,500*25% = $2,625

Return on Investment = $1,500/$2,625 * 100 = 0.571429 * 100 = 57.1429% = 57.14%

6 0

3 years ago

Ron Johnson, JCPenney’s former CEO, had a vision to make Penney hipper, and he changed long-held strategies and management pract

Thepotemich [5.8K]

Answer:

C. innovative change

Explanation:

The type of changes that Ron Johnson implemented in order to make JCPenney hipper can be described as innovative change. This term refers to changing or reimagining something in a new, creative and unexpected way with the goal of being successfull by meeting existing market needs. Which is what Ron is trying to accomplish in this scenario.

5 0

3 years ago