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3 years ago

Which of the following is not an assumption associated with the definition of a production function?

Business

1 answer:

larisa86 [58]3 years ago

7 0

Answer: Both inputs and outputs are measured in monetary units.

Explanation: Production function according to Wikipedia is defined as the technological relation between quantities of physical inputs and quantities of output of goods.

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When a competitive market is in equilibrium, what is the economically efficient level of output? A. any output level where mar

Anestetic [448]

Answer:

The correct answer is C. the output level where marginal cost is equal to marginal benefit .

Explanation:

Competitive equilibrium Traditional concept of economic equilibrium used for the analysis of goods markets with flexible prices and many agents, which usually serve as a benchmark for efficiency in economic analysis. Crucially, it depends on the assumption of a context in which each agent makes decisions about such a small amount compared to the total amount traded in the market that their individual transactions have no influence on prices.

It consists of a price system and an allocation of the production and consumption of the economy among the various agents, such that, given the prices, each agent maximizing its objective function (benefits, preferences) subject to restrictions (technological, of resources) plans to trade its share in the proposed allocation, at prices that make all exchanges compatible with each other by balancing the markets, that is, matching the aggregate supply with the demand aggregate of each of the goods and services traded.

6 0

3 years ago

Which advertising career interest you the most?

Montano1993 [528]

Answer:

The advertising career that interest me the most is marketing

Explanation:

5 0

2 years ago

Benjamin Company had the following results of operations for the past year:Sales (16,000 units at $10.25) $164,000Direct materia

Mamont248 [21]

Answer:

Profit will increase by 5,975

Explanation:

From past year we can see that total variable cost will be:

Direct Material+Direct Labor+Variable Over head.

Total Variable Cost =100,000+20% of 20,000

Total Variable costs = 100,000+4000= 104,000

Per Unit Variable cost = Total Variable cost/Total Unit Produced

Per Unit Variable Cost = 104,000/16,000 = 6.5

If Benjamin accepts the offer results will be:

Sale (4,500*8.05) 36,225

Variable Cost (4,500*6.5) (29,250)

Incremental Fixed cost (650)

Incremental admin

and selling cost (350)

Operating Income 5,975

7 0

2 years ago

Read 2 more answers

State and local governments in the United States share the costs of criminal justice by making ________ primarily a local functi

Marta_Voda [28]

Answer:

The correct word for the blank space is: policy protection; corrections.

Explanation:

Policy protection is related to the regulation of individuals' reckless behavior such as <em>abuse or trafficking of drugs, theft, domestic violence, school safety, and juvenile misbehavior</em>. Local governments -counties and districts- have the power to enforce law over those matters until their jurisdiction allows it.

Criminal corrections involve all the penalties a state must impose on individuals who committed improper behavior and were against the law, thus, they must be punished.

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2 years ago

Suppose that the market price for a bottle of vitamins is $2.50 and that at that price the total market quantity demanded is 75,

tatiyna

Answer:

there will be 187, 500, 000 firms in the industry.

Explanation:

just multiply 2.50 with 75, 000,000 and get the answer.

6 0

3 years ago

Read 2 more answers