C.
Allocative efficiency in simple terms basically means there is no wastage, therefore if producers produce at price equals marginal coat, they are producing at the point where consumers are willing to pay that final price. Refer to the poorly drawn diagram for reference.
Answer: The correct answer is True.
Explanation: This is a case of employer liability - employers are liable to their employees' act, whether it was due to the employer's intention or not, or whether the employer means to cause harm or not, provided the employees still act within the scope of their employment. The same applies if the employees had carried out good deeds within the scope of their employment, the employers share the good news - just the same way an employer profits from employee's labor, the employer is legally liable when the employee commits harm.
Employers are <em>vicariously liable</em> under doctrine of "respondeat superior" for the negligence or omissions caused by their employees during the course of their employment with the company. The doctrine of "respondeat superior" according to Law dictionary means a doctrine in tort law that makes a master liable for the wrong of a servant. There was a particular scenario I witnessed: a colleague of mine while working late at work had a visitor at the Reception and opted to see him. Unfortunately for her, an accident happended - a car broke into the office and she sustained a lot of injuries. The employer paid for all her reimbursable expenses during her treatment, paid her mum a certain amount for taking care of her, including buying her a new phone because the old one got damaged during the accident although insurance took care of some of the health bills. Because the employer knew it was binding in the court of law, she could not be forced to resume. She eventually resumed after 6 months!
Answer:
decrease in marginal cost for firms in the industry and an increase in the industry supply curve
Explanation:
Supply is the ability of suppliers to produce goods to meet demand for that good at a particular period in time.
There will be an increase in demand when procedures for production are more efficient and when cost reduces.
In this case where there is a technological advance that improves productivity, the suppliers will be able to produce more goods at less cost.
So marginal cost will decrease because of the improved technology and supply will increase because of more efficient process of production.
Answer:
40%
Explanation:
Devana owns 40% of GW Corp. despite having another 40% shares in Alpine Inc. This is as a result of Devana not having up to 50% shares in Alpine Inc.
Without up to 50% shares in Alpine Inc, the shares of Alpine Inc. in GW Corp. cannot be attributed to Devana.
This means that for Devana to own Alpine Inc shares in GW Corp. it has to acquire 10% more in addition to the 40% it already has.
Cheers.
Answer:
True
Explanation:
"Poka- yoke" is a Japanese term which relates to mistake proofing. The term signifies correcting accidental errors and preventing those from forming part of a product.
The term emphasizes upon creation of such manufacturing techniques which can be used for proofing errors so that operations can be carried out smoothly, efficiently and error free.
The term was first used by Shigeo Shingo. It represents a control measure which aims at detection of mistakes and errors on timely basis so as to avoid them from becoming part of the product.
