I would say all of the above. That is the function of an entrepreneur.
Answer:
B. increase in output obtained from a one unit increase in labor
Explanation:
Marginal product is the change in output as a result of a change in factor input such as labor (L) or capital (K).
Marginal product of capital is the change in output resulting from a change in capital.
It can be calculated by :
Marginal product of capital (MPK)= change in output/change in capital
That is,
MPK=∆Q/∆K
Marginal product of labor is the change in output when additional labor is added. Only labor changes in marginal product of labor. It can be calculated by
Marginal product of labor (MPL)= change in output/change in labor
That is,
MPL=∆Q/∆L
Diego is trying to focus and meet his self-actualization needs.
<h3>What is Maslow's Hierarchy of Needs?</h3>
Abraham Maslow's theory of Hierarchical needs explains that people are driven to meet fundamental wants before moving on to more complex requirements.
His theory emphasizes five hierarchical needs, these are:
- Physiological needs
- Security and safety needs
- Social Needs
- Esteem Needs
- Self Actualization needs
Therefore, based on the fact that Diego is concerned about his own personal growth and focusing on his career, we can conclude that Diego is trying to focus and meet his self-actualization needs.
Learn more about Maslow's Hierarchy of Needs here:
brainly.com/question/1785981
Answer:
D) all answers are correct except Option (E)
Explanation:
Value-added activities refers to all activities of a company's operations that increase the perceived worth of a product or service to customers, activities that are essential to a company's operations, engineering design, machining, assembly, and paintings.
Value added activity are activities which helps improve a firms productivity, that is, acrivities that increase output, thereby increasing Profits. They help Improve Customer service relation and quality of product.
All actions put in place by a business manager to improve on the value of a firm is referred to as value added activity.
Answer:
Option (c) is correct.
Explanation:
Stephen can move 70 boxes or bake 28 cookies in an hour:
Opportunity cost of producing a box = (28 ÷ 70)
= 0.4 cookies
Opportunity cost of producing a cookie = (70 ÷ 28)
= 2.5 boxes
LeBron could move 16 boxes or bake 4 cookies in an hour:
Opportunity cost of moving a box = (4 ÷ 16)
= 0.25 cookies
Opportunity cost of making a cookie = (16 ÷ 4)
= 4 boxes
Therefore,
Stephen has a comparative advantage in making cookies because the opportunity cost of making cookies is lower than the LeBron.
LeBron has a comparative advantage in moving boxes because the opportunity cost of moving boxes is lower than the Stephen.
Yes, the trade is possible.
Stephen should make cookies and LeBron should move boxes.