Answer:
Lowa should produce corn; Nebraska should produce Wheat
Explanation:
Two states: Iowa and Nebraska
Same two goods are produced by both of them: Corn and wheat
For lowa,
Opportunity cost of producing wheat = 3 bushels of corn
Opportunity cost of producing corn = (1 ÷ 3) bushels of wheat
For Nebraska,
Opportunity cost of producing wheat = (1 ÷ 3) bushels of corn
Opportunity cost of producing corn = 3 bushels of wheat
According to the concept of comparative advantage, a country is exporting the commodity in which it has a comparative advantage and a country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity is lower than the other country.
In our case, lowa should producing and exporting corn because the opportunity cost of producing corn is lower than the Nebraska and on the other hand, Nebraska should producing and exporting wheat because the opportunity cost of producing wheat is lower than the lowa.
Answer:
Maia’s alternative minimum taxable income is: =$119430
Explanation:
Given:
- Regular taxable income of $116,300
- State income taxes $3,130
From that, we can find out the taxable income
= Regular taxable income + State income taxes
= $116,300 + $3,130
=$119430
Because the deduction spent on charitable contributions will not consider as taxable income because charitable contribution is a deductible amount from a person's taxable income.
So, Maia’s alternative minimum taxable income is: =$119430
Answer: adverse selection
Explanation:
From the question, we are told that an
insurance company is likely to attract customers like Clancy who want to purchase insurance because he knows better that the company that he is more likely to make a claim on a policy.
The idea above is called adverse selection. This is a situation whereby either the seller or the buyer believes that he or she has more information than the other person regarding a particular product.
Answer: Option B
Explanation: In simple words, lean manufacturing refers to the manufacturing process in which the production firm focuses on minimizing the waste that occurs in the production process and also increases the productivity at the same time.
This system was first implemented in Japanese manufacturing industry and lead to decrease in cost of production significantly. Such kinds of manufacturing is highly evident in industries prancing goods such as clothes, shoes etc.
This strategy also decreases the production cycles and increase the respond time of the firm to the market.
Answer: Reminder
Explanation:
The reminder advertising is one of the type of marketing advertisement strategy that is used for reminding about the various types of products and the services in the market and this strategy is also used for introducing the new features and characteristics in the existing products.
The main objective of the reminder advertisement is that it basically using the promoting or the advertising strategy for targeting the customers or users about the goods and the services ion the market.
According to the given scenario, a chocolate manufacturer is basically using the reminder advertising during the Christmas. Therefore, reminder advertising is the correct answer.
