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Nostrana [21]
4 years ago
10

Explain precisely why opporunity cost is always a relative concept and is never to be construed in absolute terms. In addition ,

why is the PPF function never strictly convex- what is the economic implication of strict convexity ?you are free to provide appropriate of your choice.
Business
1 answer:
denis23 [38]4 years ago
4 0

Answer:

Opportunity cost always a relative concept where the cost of foraging the next best alternative there the next best alternative is compared to current choice and this concept cannot be absolute.

PPF – Not strictly convex  

Because PPF slope = Marginal rate of transformation

Marginal rate of transformation – number of units of goods that must be foregone in order to create or to attain 1 unit of another good.

If PPF = Strictly convex then Marginal rate of transformation must be strictly decreasing which is impossible Marginal rate of transformation always increase due to scarcity of resources both goods to produce the goods.

For example if apple need to enhance there need to be a decrease in oranges  

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$16,000.

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Which of the following is associated with the market development strategy?
pantera1 [17]

Answer: Option (c) is correct

From the given option the following is associated with the market development strategy: <em>Adding new features to products.</em>

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4 0
4 years ago
The owner of a store that sells fine-quality fabrics for home seamstresses bemoans the fact that few young women know how to do
eduard

Answer:

The answer is: A) core competencies that have become core rigidities.

Explanation:

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In the past the store had an strategic advantage since they sold a great product, but nowadays very few people are interested or willing to buy their fabrics. So what once was a core competency has now become a core rigidity. The store relied for too long on their core competency until it became obsolete. A textbook example for this is Kodak and its photographic film.

3 0
3 years ago
Chattanooga Company purchased a depreciable asset for $80,000 on January 1, 2015. The estimated salvage value is $20,000, and th
zimovet [89]

Answer: $17,333

Explanation: The above answer can be calculated as follows :-

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now,

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4 0
4 years ago
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