Answer:
b] small; standardized (commodity); little, if any
Explanation:
The options to this question wasn't provided. Here are the options:
a] large; standardized (commodity); no
b] small; standardized (commodity); little, if any
c] small; differentiated; no
d] large; differentiated; extensive
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Answer: The input choice will be relatively similar when prices and the marginal product of both capital and labor are equal.
Explanation:
For a cost minimizing output, it is required for a firm to employ resoruces where the MPl/Pl = MPk/Ok
Note that:
MPl = marginal product of labor
Pl = labor price
MPk = marginal product of capital
Pk = capital price
A firm that has cheap capital resources will employ more capital likewise the company that has cheap labor resources will employ more of labor.
The input choice will be relatively similar when prices and the marginal product of both capital and labor are equal.
Answer:
After determining the costs of doing a research, it is possible to take on two different paths: to ask for public and/or private funding, and/or planning and/or outlining the development of the research.
Explanation:
To determine the costs of a research is one of the first steps researchers make, in order to prepare for how they are going to develop that and what will be necessary for doing so. The next step could be two different things: either to ask for public and/or private funding, in order to get the amount of money needed for development, and also for establishing a broad network with companies and institutions interested in the research; and/or to plan and/or outline the development of the research itself, having all major and specific aims outlined and structured with specific informations about who will be the agent of each action, what is the aim for each of them, how it is going to be developed in practice and real life, the studies and scientific networks liked to the research, the expected results with possible problems and solutions, the testing needed if any action takes a wrong or not expected turn, and the turning point of concluding the research tied to the aims achieved with their consequences for future researches.