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dybincka [34]
3 years ago
10

Which of the following is not correct? a. The producer who requires a smaller quantity of inputs to produce a good is said to ha

ve an absolute advantage in producing that good. b. The producer who gives up less of other goods to produce Good X has the smaller opportunity cost of producing Good X. c. The producer who has the smaller opportunity cost of producing a good is said to have a comparative advantage in producing that good. d. The gains from specialization and trade are based not on comparative advantage but on absolute advantage.
Business
1 answer:
SCORPION-xisa [38]3 years ago
6 0

Answer:

b. The producer who gives up less of other goods to produce Good X has the smaller opportunity cost of producing Good X

Explanation:

<u>The opportunity cost is the cost of the best alternative.</u>

In this case, the producer uses factors (labor, raw materials, capital) to produce good X. His opportunity cost is the goods he would produce instead of good X.

A producer who gives up less of the other goods means his best alternative is lower than one who gives up more.

<em>For example</em>

if a producer can do

10 good X

or 50 of good Y

The opportunity cost for good X is 5 units of Y

if another producer can do

10 good X

or 20 of good Y

The opportunity cost of good X is 2 units of Y

For this second producer, it is more feasible to produce X than the first producer. It renounces to fewer unis of good Y

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A furnace repair team services a design capacity of 6 furnaces per day with an effective capacity of 5 furnaces per day. What is
VashaNatasha [74]

Answer:

66.7%

Explanation:

Given that,

Design capacity = 6 furnaces per day

Effective capacity = 5 furnaces per day

Efficiency ratio if it repairs an average of 4 furnaces per day:

= (Actual capacity ÷ Possible capacity) × 100

= (4 per day ÷ 6 per day) × 100

= 0.667 × 100

= 66.7%

Therefore, the efficiency ratio is 66.7 percent.

6 0
3 years ago
Which of the following statements is TRUE?
Dahasolnce [82]

Answer:

Third one....The interest rate on your savings account will vary over time and be set by the government

Earn interest at a norminal rate.

7 0
3 years ago
Alyona recently purchased a car. In her first auto loan statement, she was surprised to find a letter for a life insurance compa
Ad libitum [116K]

Answer:

Credit life Insurance

Explanation:

The scenario describes Credit life insurance

This is a form of insurance policy that that is designed to pay off the balance on a policy holder's outstanding loan in case of death. It is designed for the protection of lender and heirs who are co signers from loss in case of the death of the borrower.

The insurance is liable to the balance on the loan as at the time of the death of the borrower.

3 0
3 years ago
When a company prepares financial statements using standard costing, which items are reported at standard cost
Dmitrij [34]

Answer: Inventories and cost of goods sold.

Explanation:

Standard costing is used in accounting and it simply has to do with the substitution of the cost that's expected for a product with an actual cost when preparing financial statements.

The difference that's then between the actual costs and expected costs are then recorded as variance. It should also be noted that when a company prepares financial statements using standard costing, the items that are reported at standard cost will be Inventories and the cost of goods sold.

7 0
2 years ago
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Dmitry_Shevchenko [17]

Answer:

transcripts degrees earned

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Explanation:

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