Answer:
Answer Illustration : Opportunity Cost of producing Wine is lesser in France, Opportunity Cost of producing Sweaters is lesser in Tunisia. So, France has comparative advantage in Wine, Tunisia in Sweater.
Explanation:
Opportunity Cost is the cost of next best alternative foregone while choosing an alternative.
Opportunity Cost of producing Sweaters & Wine in France & Tunisia are quantities of other goods (Sweaters or Tunias) sacrifised while choosing either. Sweater Opportunity Cost - Wines sacrifised, Wine Opportunity Cost - Sweaters sacrifised.
The country has a comparative advantage in a good if it can produce it with relatively less opportunity cost (in terms of other good sacrifised) than other country.
Ex : Production Possibilities
Wine Sweater Trade off (Wine :Sweater)
France 10 5 1:0.5 or 2:1
Tunisia 8 24 1:3 or 0.33:1
- France produces Wine with lesser opportunity cost (sweater sacrifised) than Tunisia [0.5 sweater < 3 sweaters] ; it has comparative advantage in Wine.
- Tunisia produces Sweater with less opportunity cost (wine sacrifised) than France [ 0.33 wine < 2 wines] ; it has comparative advantage in Tunisia
Answer:
A) Design competition
Explanation:
Digital watch manufacturers and manufacturers of analog watches compete against each other because their products basically satisfy the same needs. Each one offers a very different product with its pros and cons, but even though their products are so different, they can be considered substitutes.
In the concept of innovation streams, Curtab is the innovator that is trying to create a sustainable competitive advantage because it works by designing an innovative product while its competitors rely on updating old designs.
Answer: Payment for Knowledge
Explanation:Training is a key aspect for a company's improvement development and success. It is beneficial to both employers and employees of an organization. An employee will become more efficient and productive if he is trained well.
Due to the continuous updates and improvement in the world technology relating to businesses, Most Organisations are willing to pay for training thier employees off the job so to cope up with those changes, improve the working conditions, and enhance their knowledge.
Even though such training are costly,on the long run, they improve efficiency and productivity of employees. Well trained employees show both quantity and quality performance leading to optimal use of time, money and resources.
The company seeking for Zach to learn to manage multiple departments, and proferring to pay his tuition while he earns an mba at stanford university and give him a $20,000-a-year raise once he gets his degree shows that the company is willing to pay for more knowledge as that hopefully will go a long way to improve their productivity when he returns.
Answer:
Total puzzles solved expected by an employee: 2.61
Explanation:
we multiply each outcome by the probability adn then add them together. Thus, we are doing a weighted-average
0 x 0.06 = 0.00
1 x 0.16 = 0. 16
2 x 0.19 = 0.38
3 x 0.32 = 0.96
4 x 0.24 = 0.96
5 x 0.03 =<u> 0. 15 </u>
Total puzzles 2.61
Answer:
$43
Explanation:
The total cost incurred by the company is made of two classes of cost namely; Fixed and variable cost. While the fixed cost is constant, the variable cost is dependent on the number of tractors produced.
A such,
Fixed cost = $550,000
Variable cost = 22000 × $180 = $396,000
Total cost = $550,000 + $396,000
= $946,000
The average cost per tractor is the result of the ratio of the total cost to the number of tractors
average cost per tractor = $946,000/22,000
= $43
