Answer:
a) Hence the new levels of the consumer are $800,000and the producer surplus is $1,500,000.
b) Hence the consumer and producer surplus in this market is $525,000.
Explanation:
Here the answer is given as follows,
Answer:
inputs
Explanation:
From a systems perspective, all the employees required to perform a service are considered inputs. Three factors of production are considered inputs: labor, land and capital. In the case of the landscaping company, it needs employees, materials, equipment, office facilities, etc.
All the different employees: sales representative, designer, supervisors, landscapers, billing personnel, etc. are human labor.
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Multinational Corporations (MNCs) set up their factories or production units close to markets where they can get desired type of skilled or unskilled labour at low costs along with other factors of production. After ensuring these conditions MNCs set up production units in the following ways :
(a) Jointly with some local companies of the existing country.
(b) Buy the local companies and then expand its production with the help of modern technology.
(c) They place orders for small producers and sell these products under their own brand name to the customers worldwide.
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Answer:
California is the largest wine producer in the United States, producing over 84% of all U.S. wine production.
Explanation:
Answer:
Variable Costs : Supervisory $5,000
Fixed Costs : Salaries $5,000
Mixed Cost : Maintenance $4,000
Explanation:
Variable Costs
These costs vary in direct proportion with the amount of production.
Examples : Materials and Labor
Fixed Costs
Theses costs do not vary with amount of production but stays the same in the relevant range.
Examples : Salaries of Mangers
Mixed Costs
These contain a variable cost element and a fixed cost element
Examples : Telephone Bill and Maintenance Costs