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3 years ago

what to nations and businesses use to see how much producing some good will cost them in terms of not producing other goods

Business

1 answer:

kifflom [539]3 years ago

5 0

Answer:

Countries use the production possibilities schedule and the production possibilities frontier. (PPF)

Explanation:

These are theoretical and practical tools that are used to determine the opportunity cost incurred when choosing production alternative betwen two or more goods.

In the PPF in particular, good x (for example, sugar) is shown in the x axis, and good y (for example, butter) is shown in the y axis. A curve can be drawn, that illustrates the production possibilties between the two goods: for example, a country can produce either 200 units of sugar and 100 units of butter, or 200 units of butter, and 100 units of sugar.

The points on the curve are efficieny points: production quantities in which all available resources and being utilized efficiently.

Points inside the curve are inefficient: they represent output that is produced with available resources being used inefficiently.

And points outside the curve are unattainable because of lack of resources.

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Alejandro Yago leased a Jeep for $209.00 per month for 60 months.He paid a deposit of $850.00, a title fee of $45.00, and a lice

kenny6666 [7]

Answer:

$ 14,267.88

Explanation:

The total cost of leasing the jeep will be

Title fee : = $45.00

License fee: =$60.00

Monthly fees: $209.00 x 60 = $12,540

charges for miles above 60,000 miles (73,524 -60,000)

=$0.12 x 13524

=$1,622.88

Total cost = $45 +$60 + $12,540, + $1,622.88

Total cost = $ 14,267.88

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3 years ago

If input prices are constant in the long run, a firm with decreasing returns to scale can expect A. total costs to decrease whe

Fudgin [204]

Answer:

D) total costs to increase by more than double when output doubles.

Explanation:

Decreasing returns to scale refers to a situation where you can double your inputs but your total production output will be less than double. The output will increase in a smaller proportion than the inputs.

In this scenario, the more units you produce, the greater the cost per unit of production.

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3 years ago

Which of the following is most likely to be characterized by substantial asymmetric information?

Black_prince [1.1K]

Answer:

Explanation:

Asymmetric information refers to when one party in a transaction has a substantial more amount of information than the other party. This being the case it can be said that the scenario that would most likely be classified as this is a wireless service that includes unlimited minutes and texting. This is because the buyer is most likely thinking that they are getting a great deal when in fact the seller/provider has access to information that the buyer does not know, which allows them to provide this deal and still make a great profit.

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3 years ago

1. Choose a real or made up example of a company, and describe at least three variable costs the

Softa [21]

Answer:

Let Sanguine Wines Ltd. refer to a hypothetical company for the purpose. Following would constitute Sanguine Wines Ltd's variable costs:

Raw Material or input prices: The raw material or inputs of sanguine wines limited purchases from suppliers such as dried grapes, sugar and the likes. The price of such inputs is prone to seasonal fluctuation and thus variable
The performance related incentive for employees for number of bottles of wine created, would be variable cost as it would vary with the no of bottles produced.
Discount allowed to distributors which varies based upon the number of bottles purchased by them.
Commission paid to wine salesperson which varies with respect to bottles sold.

4 0

3 years ago

A company has a total amount of 15 hours for one specific resource. The upper limit of this resource is 18 (the right-hand side

Greeley [361]

Answer: A. the company will be willing to pay a different amount for this resource.

Explanation:

The upper limit for the resource was 18 and anything up to 18 would have attracted the same shadow price (price company estimated it was willing to pay for access to this resource).

The access was increased past this limit however to 18.01. The company therefore will now have more access to the resource and so will be willing to pay a different amount for the resource.

4 0

3 years ago