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3 years ago

Which of the following correctly describes a production isoquant?

Business

1 answer:

evablogger [386]3 years ago

4 0

Answer:

An isoquant is a curve that shows the least-cost combinations of inputs that can produce a given level of output.

Explanation:

Isoquants are lines of equal values that are meant to show a set of points that have the same quantity of output when changing the quantities of more than two inputs.

It also shows an extent to which the firm has the ability to substitute two or different products to attain the same level of the outputs.

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Match the word with the best definition.

Bas_tet [7]

Answer:

1. Income determines who will get what is produced

2. Consumers decide what to produce by what they are willing to buy

3. Demand determines how much will be produced

4. Businessmen decide how to produce goods to make a profit

5. Producers the human resources that make the products or perform the services

Explanation:

1. Income determines who will get what is produced

The level of disposable income in a target market determines the quality and quantity of products that will channeled to that market.

2. Consumers decide what to produce by what they are willing to buy.

It is consumers that dictates the tune in market because they are the ones paying for the goods, they have the decision-making power on what they will buy which in turn determines what firms will roduce.

3. Demand determines how much will be produced. Demand is a measure of what consumers are willing buy and in what quantity. The size of demand determines the size of the market that firms are going to supply with their products.

4. Businessmen decide how to produce goods to make a profit.

Firms use the generic strategy of cost reduction (cost leadership) or quality improvement (Product differentiation) as strategic options to decide wihich alternative will yeild more revenue.

5. Producers the human resources that make the products or perform the services.

Producers are the people at the factory floor or service centers manufacturing the good or rendering the service.

6 0

4 years ago

Supple SkinCare Inc. is spending significant money educating customers on the value of its mineral-based skincare line as it mov

GuDViN [60]

Answer:

D)pioneering costs

Explanation:

From the question, we are informed about Supple SkinCare Inc. who is spending significant money educating customers on the value of its mineral-based skincare line as it moves into several new international markets. In this case, the money to educate customers is a form of pioneering costs.

Pioneering costs can be regarded as those expenses that is spent by a firm inorder to familiarize with the rule of game in a situation whereby the foreign business system the firm found herself is quit difference from home market. This cost could come in term of of devoting time and spending significant money to educate customers about their products and so on.

3 0

3 years ago

The records at smith and jones, inc. show that job 110 is charged with $12,000 of direct materials and $11,000 of direct labo

WARRIOR [948]

To solve:

Direct marterial cost = $12,000

Direct labor cost = $11,000

Manufacturing overhead = 85% of direct labor cost = $9,350

Add up all of the costs for the total cost of Job No. 110.

$12,000 + $11,000 + $9,350 = $32,350.

3 0

3 years ago

You are considering three alternative banks in which to open a savings account. The first bank offers you an annual rate r1, and

Scilla [17]

Answer:

1) Suppose you were to save $500.0000 in the first bank. The interest rate is r1=8.0000%. Three years from now, you should have

effective interest rate = 1.08 = (1 + r)¹²

r = 0.643403% per month

future value = $500,000 x (1.0643403)³⁶ = $629,856

2) Suppose you were to save $500.0000 in the second bank. The interest rate is r2=5.0000%. Three years from now, you should have

effective interest rate = 1.05 = (1 + r)³⁶⁵

r = 0.013368061% per day

future value = $500,000 x (1.00013368061)¹⁰⁹⁵ = $578,812.50

3) Suppose you were to save $500.0000 in the third bank. The interest rate is r3=3.0000%. Three years from now, you should have

future value = $500,000 x e⁰°⁰⁹ = $547,087.14

4) Let the interest rate in the first bank be r1=8.0000%, and you are considering saving your money for 3 years. The interest rate from the second bank that would make you indifferent between the first and second bank is r2=

$629,856 = $500,000 x (1 + i)¹⁰⁹⁵

(1 + i)¹⁰⁹⁵ = 1.259712

1 + i = 1.000210874

i = 0.000210874 = 0.0210874% per day or 7.7% annual

5) Let the interest rate in the third bank be r3=3.0000%, and you are considering saving your money for 3 years. The interest rate from the first bank that would make you indifferent between the first and third bank is

$500,000 x (1 + i)³⁶ = $547,087.14

(1 + i)³⁶ = 1.09417428

i = 0.2503128 per month = 3.05% annual

8 0

3 years ago

Formal communication within a business _____.

labwork [276]

Answer:

The answer is (B) typically follows the same path as the company’s organization chart.

Explanation:

Formal communication in a business refers to a type of communication that is intended to follow a certain agenda or written or expressed verbally in a formal tone. Because of its form and adherence to standards, it usually requires the approval of multiple parties within the organization, and thus follows the same lines as a company’s organization chart.

4 0

3 years ago