Answer: D. All of the above are correct.
Explanation:
The marginal rate of technical substitution (MRTS) refers to the economic theory which explains the rate at which a particular factor of production must reduce in order for the same level of productivity to be maintained when there's another production factor which is increased.
When the capital is plotted on the vertical axis and labor is plotted along the horizontal axis, then the marginal rate of technical substitution of labor for capital along a convex isoquant will reduce as more and more labor is used. Also, the MRTS equals the negative of the slope of the isoquant and equals the marginal product of labor divided by the marginal product of capital that's MRTSL,K=-MPL/MPK
Therefore, the correct option is All of the above.
Answer:
The correct answer is letter "C": engaging in active listening.
Explanation:
Active listening is the activity by which an individual pays attention to whatever the person he is interacting with is saying. The individual might use certain phrases or gestures in between segments to let the other person know he or she is paying attention.
When it comes to sales, <em>clerks need to listen to what consumers say to find out what product better matches the clients' needs and preferences.</em>
Explanation:
The cross-price elasticity formula is:
CPE= Δ%q of good A/ Δ%p of good B
The CPE of penguin patties and raskels is:
CPE= -22%/-20%
CPE= 1.1
A positive CPE means that both good are substitutes; often, penguin patties take the place of raskels. An increase in price of penguin patties will affect positively the quantity demanded for raskels.
The CPE of penguin patties and kipples:
CPE= 7%/-20%
CPE=-0.35
A negative CPE means that both goods are complementary, which means that consumers will likely consume them together. An increase in price of penguin patties will affect negatively de quantity demanded for kipples.
Complementary goods should be advertise together because both could be positively benefited by advertising. If the demand for penguin patties increases, it is probable that the demand for patties increases too. If you advertise substitute goods, people will always prefer one, then the advertising will only be effective or for penguin patties or for raskels.
The second one is the answer
Answer:
represent an oligopoly in which there are few sellers, and each seller has considerable control over price.
Explanation:
Car manufacturers are an oligopoly because they are relatively companies that operate around the world, they all offer similar products although they are not identical (e.g. sedans, SUVs, pickup trucks, etc.), and they all possess a considerable market power. Also it is very difficult for a new company to enter the market because the barriers of entry are extremely high since each company sells millions of cars per year worth billions of dollars. Also, when of them starts a promotional activity, the rest will probably follow.
