The fundamental belief behind the market-oriented US economy is that firms are in the best position to know if their actions will cause antitrust laws to be being broken and allow them to work more efficiently. This is further explained below.
<h3>What is an
Economy?</h3>
Generally, the status of a country in terms of commodities and services production and consumption.
In conclusion, Firms are in the best position to ascertain the effect of their actions on the economy.
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Answer:
224 units of output per dollar of input
Explanation:
The computation is shown below:
Productivity measures = (Total units produced) ÷ (Total labor cost + Total equipment cost)
where,
Total units produced is
= 70,000 × 52 weeks in a year × 4 years
= $14,560,000
Total units produced
= $13,000 × 4 years
= $52,000
And, the cost of equipment is $13,000
So, the productivity measures is
= ($14,560,000) ÷ ($52,000 + $13,000)
= 224 units of output per dollar of input
Answer:
Diversification
Explanation:
The key words here are 'several businesses'. A company engage in many businesses in order to mitigate or reduce its business risk, and also to create and add more value to customers. This offers a far advantage position than a stand alone entities who deal with only one product or service.
Answer:
Explanation:
U = 10 X²Z
Given
150 = 5X + 20Z
30 = X + 4Z
To maximise utility
differentiating partially wrt X
MU_x = dU/ dX = 20XZ
differentiating partially wrt Y
MU_y = dU/dY = 10X²
For optimal bundle
MU_x / MU_y = P_x / P_y
20XZ / 10X² = 5 / 20
2Z / X = 1/4
X = 8Z
30 = X + 4Z
30 = 8Z + 4Z
12Z = 30
Z = 2.5
X = 8 X 2.5
= 20
X = 20
Z = 2.5