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Anestetic [448]
4 years ago
10

A perfectly competitive industry achieves allocative efficiency in the long run. What does allocative efficiency​ mean? A. Each

firm produces up to the point where all scale economies are exhausted. B. Each firm produces up to the point where the price of the good equals the marginal cost of producing the last unit. C. Firms use an input combination that minimizes cost and maximizes output. D. Production occurs at the lowest average total cost.
Business
1 answer:
Sedaia [141]4 years ago
6 0

Answer: B. Each firm produces up to the point where the price of the good equals the marginal cost of producing the last unit.

Explanation:

Allocative efficiency means that the point chosen on the production possibility frontier is socially preferred.

In a perfectly competitive market, allocative efficency is achieved at the point where price equals the marginal cost of production. At this price producer and consumer surplus is maximised.

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Electronic media have changed the way employers select qualified candidates. Applicant tracking systems (ATS) are often the firs
guapka [62]

Answer:

a. Move all text to the right.

a. Unusual typefaces, underlining and italics.

c.Unfamiliar abbreviations.

Explanation:

Application Tracking System (ATS) is a software which helps organization to manage the recruiting process. It enables to look for required skills in a certain applicant and then select those candidates who matches the certain requirements by organization.

The candidates should format the resume as short lines and mention key points. Move all text to the right to be able for ATS to ease tracking process.

The candidates should avoid including unusual typefaces and italics, should not use unfamiliar abbreviations.

8 0
3 years ago
Your health club is offering a free one-year membership for the person who attends the most yoga classes in March. This results
nalin [4]

Answer:

The economic principle is "people usually exploit opportunities to make themselves better off".

Explanation:

Here, the health club is offering a free one-year membership for the person who attends the most yoga classes in March.

So, there is an opportunity for every individual to get a free one year membership. <em>So, more and more people will try to attend more yoga classes in order to obtain free membership for one complete year. </em>This choice will be made by most of the individuals because they want to get rid of paying fee every month. Hence, <em><u>this will tend every individual to grab and exploit that opportunity to make themselves better off.</u></em>

Thus, the increase in people attending yoga classes is based on the economic principle "people usually exploit opportunities to make themselves better off".

4 0
3 years ago
Lidell Inc. budgeted production of 48,000 personal journals in 20Y6. Each journal requires assembly. Assume that three minutes a
mote1985 [20]

Answer:

Direct labor cost= $31,200

Explanation:

Giving the following information:

Production= 48,000 units

Standard time= 3 minutes per unit

Rate= $13 per hour

First, we need to calculate the number of hours required:

The proportion of minuted per hour= 3/60= 0.05

Number of hours= 48,000*0.05= 2,400 hours

Now, the direct labor cost:

Direct labor cost= 2,400*13= $31,200

7 0
3 years ago
Roofing Issues. Sally agrees to roof a house for Bob. After doing his research, Bob chooses Sally based on her great reputation
expeople1 [14]

Answer:

C. Spencer will win because regardless of whether Glen was acting within the scope of his employment, Sally is liable for his negligence

Explanation:

Spencer will win the lawsuit and Sally is liable for negligence.

This is because, Sally was the person originally hired to do the roofing job.

She hired other workers to help her with the job, so she's liable to their actions and inactions.

Sally is operating under a working agreement (contract) and has already charged a fee of $10,000 so any punitive damages would be her responsibility.

Spencer was moving around and Glen threw some roofing shingles without any word of warning to people that might be in harm's way. So for Glenn's actions, Sally is liable for his negligence.

5 0
4 years ago
Choosing cost drivers, activity-based costing, activity-based management. Pastel Bags (PB) is a designer of high-quality backpac
Andrej [43]

Answer:

vcvgbExplanation:

6 0
3 years ago
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