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Debora [2.8K]
3 years ago
7

Economic Efficiency is the production of that combination of goods that consumers’ desire the most (maximum _________) given a f

ixed amount of resource input..
Business
1 answer:
Semmy [17]3 years ago
4 0

Answer:

utility

Explanation:

Economic efficiency is when the consumer can get the combination of goods, and do not have to trade off any product to get higher utility. For example, given the fixed amount of money, there are 2 desired products, apple and banana. If the customer buy apples with her all money, she will get utility of, for example, 3 utils. But since she love both fruits, have 2 type of fruit will make she will be happier, she will give up some apples to buy bananas, resulting in higher utility. This process continue util she get the highest utility.

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What is a table in economics and state 5 characteristics of a table​
Luba_88 [7]

A table is a systematic arrangement of data implementing columns and rows to display information which make it easier for better understanding.

Table number: A table should always be numbered for easy identification

Title of the table

Stubs: These refer to the headings of horizontal rows.

Captions: these refer to the headings of vertical columns

Clear, to the point and a suitable font/ size for the text. Information must be inserted in the same format into the appropriate cells

3 0
3 years ago
Which of these is an example of advertising?
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Answer:

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Answer:

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Explanation:

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6 0
3 years ago
Target profit is $100,000; fixed overhead costs are $120,000 and fixed selling and administrative costs are $50,000. If total va
vlada-n [284]

Answer:

40%

Explanation:

The markup percentage to the variable cost using the variable cost method can be obtained by dividing the addition of the target profit and total fixed cost by the total variable cost as follows:

Total fixed cost = Fixed overhead costs + Fixed selling and administrative costs = $120,000 + $50,00 = $170,000

The markup percentage to the variable cost = (Target profit + Total fixed cost) / Total variable cost = ($100,000 + $170,000) / $675,000 = $270,000 / $675,000 = 0.40, or 40%.

Therefore, the markup percentage to the variable cost using the variable cost method is 40%.

3 0
4 years ago
Social surplus is the​ ____________. A. total value from trade in a markettotal value from trade in a market. B. difference betw
shepuryov [24]

Answer:

The correct answer is letter "A": total value from trade in a market.

Explanation:

Canadian economist Alex Tabarrok (born in 1966) explains social surplus as the sum of consumer surplus, producer surplus, and bystanders surplus. Tabarrok takes an integrative approach in consumer surplus by stating <em>social surplus encompasses every economic trade in the market rather than only consumers and producers surplus.</em>

<em />

Besides, Tabarrok believes when there are major external costs or benefits, the market will not reach its social surplus.

4 0
3 years ago
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