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3 years ago

Explain the difference between objectives and goals, and give examples of each.

1 answer:

lisabon 2012 [21]3 years ago

4 0

The difference between objectives and goals is that a goal is a description of a destination and an objective is a measure of the progress that is needed to get to the destination.
Ex of goal:get along with others
Ex of objective:to use my skills in the best way possible

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When a firm uses K units of capital and L units of labor, it can produce Q units of output with the production function Q = K√L.

DanielleElmas [232]

Answer:

$STC = 20K + 25L = 20*5 + 25*[\frac{Q^2}{25}] = 100 + Q^2$

Explanation:

We are given:

K units of capital and L units of labor.

•Each unit of capital cost = 20

• Each unit of labor cost =25

• Level K is fixed at 5 units

We are told production function Q = K√L

Using the production functions and the values given, we can get that Q=5√L.

To find Q, the amount of labor will be given as:

$L = \frac{Q^2}{25}$

Therefore, the Short run total cost function (STC) will be:

$20K + 25L = 20*5 + 25[\frac{Q^2}{25}] = 100 + Q^2$

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3 years ago

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Oxana [17]

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3 years ago

Specialization and the division of ______ can increase productivity. Please choose the correct answer from the following choices

trasher [3.6K]

Answer:

Specialization and the division of labor can increase productivity.

Explanation:

Specialization is about an invidivual focusing on very specific tasks that are best suited to them according to their skills and knowledge. This concept can be applied to companies and countries, as they specialize on producing a small amount of products they excel at, for having the raw material, knowledge and/or technology to do so.

The division of labor is about breaking down the production process of a good in different parts performed by different people instead of having all workers performing all the tasks. The idea is to let workers be specialists in a small amout of tasks so that they can be more efficient and overall productivity can be greatly increased. This concept was introduced by the 'father of economics' Adam Smith in his book "The Wealth of Nations" released in 1776.

Specialization and division of labor are complementing concepts that bring a company an increase in productivity and helps achieve economies of scale.

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3 years ago

Ethics is defined as A) formal codes that permit or forbid certain behaviors. B) a general rule of conduct of personal behavior,

mixer [17]

Answer:

Ethics is defined as moral principles that governa person's behaviour or the conducting of an activity

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