1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Stels [109]
2 years ago
7

Distinguish between production efficiency and allocative efficiency. ​_______ efficiency occurs when we produce goods and servic

es at the lowest possible cost. ​_______ efficiency occurs when goods and services are produced at the lowest possible cost and in the quantities that provide the greatest possible benefit.
Business
2 answers:
Troyanec [42]2 years ago
5 0

Answer: Production efficiency, Allocative efficiency

Explanation:

ludmilkaskok [199]2 years ago
5 0

Answer:

<u>PRODUCTION</u> efficiency occurs when we produce goods and services at the lowest possible cost. ​

<u>ALLOCATIVE</u> efficiency occurs when goods and services are produced at the lowest possible cost and in the quantities that provide the greatest possible benefit.

Explanation:

Production efficiency basically refers to an economy producing along its production possibilities frontier (PPF). This means that it cannot produce any more units, since it is using all it available resources.

Allocative efficiency refers to an economy producing along its PPF at a point where it is maximizing the benefits obtained. The production of goods will match the combination that consumers need and prefer the most.

You might be interested in
Businesses adopt and identify target markets for their products to: a. maximize the impact of the cost of marketing. b. coerce p
NeTakaya

Answer: maximize the impact of the cost of marketing

Explanation:

The target market is a particular group of consumers that the advertisement of a product or service is typically aimed at.

Businesses adopt and identify target markets for their products to maximize the impact of the cost of marketing. When the target market for a product or service has been known by a company, the business can find the most efficient and effective strategy to advertise their product. This will help in the minimization of cost of marketing.

6 0
2 years ago
It seems hard to justify spending $4.00 for a compact fluorescent lightbulb when an ordinary incandescent lightbulb costs 50 ¢.
frosja888 [35]

Answer:

to obtain 10,000 hours of light you would need:

option 1)

10 incandescent light bulbs costing $0.50 each = $5

this incandescent light bulbs will consume 60 x 10,000 = 60,000 watts or 60 kWh = 60 x $0.10 = $6 in electricity

total costs using incandescent light bulbs = $5 + $6 = $11

option 2)

1 fluorescent light bulb = $4

this fluorescent light bulb will consume 15 x 10,000 = 15,000 watts or 15 kWh = 15 x $0.10 = $1.50

total costs using fluorescent light bulbs = $4 + $1.50 = $5.50

8 0
3 years ago
Insurance is _____________ when the possible loss is relatively large compared to the amount of the premium.
Andreyy89

Using economic understanding, insurance is "<u>Economically feasible</u>" when the possible loss is relatively large compared to the premium amount.

This is because when an individual insured on a premium account loses huge properties that are considerably large compared to the premium paid, this is economically feasible to such an individual.

For example, if an individual has his vehicle worth $1 million on damaged but has only paid less than $100,000 as insurance fee, such individual would have his car replaced by the insurance firm, despite only paying 10 percent of the car price as insurance fee.

Thus, this situation is considered <u>economically feasible.</u>

Hence, in this case, it is concluded that the correct answer is "<u>Economically feasible."</u>

Learn more here: brainly.com/question/13769098

8 0
2 years ago
Do you have to make payments on federal student loans while you’re in school?
fiasKO [112]
Not till ur out I think

7 0
3 years ago
Stevenson Company purchased equipment for $250,000 on January 1, 2010. The estimated salvage value is $50,000, and the estimated
evablogger [386]

Answer:

The answer is loss of $10,000 on the sale of the equipment

Explanation:

The formula for straight-line depreciation is:

(Cost of asset - salvage value) ÷ number of useful life.

Cost of asset is $250,000

Salvage value is $50,000

Useful life is 5 years

So depreciation for the year is:

($250,000 - $50,000) ÷ 5 years

$200,000 ÷ 5 years

=$40,000

January 1 2010 through June 30 2013 is 3 years and 6months

Accumulated depreciation will be:

3.5 years( 3 years + 6months/12 months) x $40,000

$140,000

Carrying value or net book value at this date is $250,000 - $140,000

=$110,000.

The equipment was sold for $100,000.

Selling price - carrying value

=$100,000 - $110,000

= - $10,000

We have a loss of $10,000 on the sale of equipment

8 0
3 years ago
Other questions:
  • On August 4, Rothchild Company purchased on account 12,000 units of raw materials at $14 per unit. During August, raw materials
    12·1 answer
  • Your employer has asked you to start working overtime and has offered to pay $18 per hour for every hour you work beyond forty h
    14·1 answer
  • Which branch of government has exercised the most power regarding race to the top, common core standards, and its assessments? w
    5·1 answer
  • Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 360,000 Beginning m
    15·1 answer
  • Which of the following terms refers to a cloud computing feature that allows for automatic allocation of computing resources in
    9·1 answer
  • For a performance appraisal to be effective, it should do all of the following except: a. take place several times a year b. be
    14·1 answer
  • 20 points :)
    12·2 answers
  • Francisco leased equipment from Julio on December 31, 2021. The lease is a 10-year lease with annual payments of $159,000 due on
    14·1 answer
  • Which market characteristic could best be described as market participants focusing production on a selection of goods and servi
    8·1 answer
  • Bonnie made the final payment to Big Bank on the 30-year mortgage loan she had on her home. Shortly thereafter Big Bank, to prov
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!