Answer:
Liabilities increase and assets decrease.
Hope this helps!
Answer: Option A : by themselves do not tell us what decisions the firm will make.
Explanation: Using the cost curve to make decisions is the function of the firm's internal decision mechanism
Answer:
True
Explanation:
Protectionism refers to barrier on import products by restricting products from the foreign market. it can be achieved by putting heavy taxes on imports or implying strict regulation on import products.
it is not a fixed approach it is done when a country decides to go strong in the manufacturing field or want to strengthen its domestic industries by giving subsidy for setting up industries.
Answer with Explanation:
The questions are related to "premiums" and "co-pays."
Insurance "premiums" are payments to the policy. This can be paid on a <em>monthly, semi-annual or annual basis.</em> So, this means it doesn't only cover monthly payments. This also means that a person who is availing of this will be charged according to the insurance policy.
"Co-pay" is a fixed payment for treatment. This means that the amount of money a person will pay is<em> "specified"</em> and is often given during the<u> time of service</u>. So, this is not only a payment to the doctor because<em> it can be charged once a patient visits a doctor or buys a prescription drug.</em>
So, this explains the answers.
Answer:
(B) U(c,f)=min{2c,f}
Explanation:
This is an example of Leontif utility function which states that the preferences of a consumer is to a constant ratio of quantities of two or more goods in his demand bundles and having an extra unit of a single good will not increase the utility of the consumer and will make the extra unit to waste. But having more units of all the goods in the demand bundle which maintain the constant ratio will increase the utility of the consumer.
A good example usually used in economics is that of a pair of shoe. Having one right and one left of a type of shoe gives a consumer utility at a constant ratio of 1:1, and increasing each leg by multiple of one at every point in time will increase the utility of the consumer, while increasing just only one makes the utility not to change. For instance, having only two left shoe will not give the consumer any utility and make both the left shoe useless.
In the question, the ratio of cups of corn meal, denoted by c, and cups of flour, denoted by f, is 2:1. This implies that to increase the utility of the consumer, c has to increase by a multiple of 2 at every point in time while f has to increase by one at the same point in time to maintain the constant ratio of 2:1. Increasing only c by 2 or only f by 1 will maintain the constant ratio and it will lead to a waste of the increased unit of the affected commodity.
Therefore, option (B) U(c,f)=min{2c,f} is the correct answer that gives a constant ratio of 2:1 = 2c:f.
I wish you the best.
