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3 years ago

The law of comparative advantage applies to exchange between

Business

2 answers:

lana66690 [7]3 years ago

4 0

Answer:

The Law of Comparative Advantage states that an entity maximises its resources by producing that which gives the best return, while delegating production of all other products and services to other entities more cost-effective in their production. The law of comparative advantage describes how, under free trade, an agent will produce more of and consume less of a good for which they have a comparative advantage. Instead, one must compare the opportunity costs of producing goods across countries.

Explanation:

My name is Ann [436]3 years ago

3 0

Answer: INDIVIDUALS,REGIONS,NATIONS

Explanation:

The law of comparative advantage tries to describe the effects of changes made to an Economy, individuals,nations,regions when compared to others.

A Nation with a good comparative advantage will produce more goods and services with a reduced cost.

It helps to know how well a country,an individual,a region is good at effectively managing its resources to produce efficiently.

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The big problem with average-cost pricing is that:A. fixed costs are hard to estimate.

zavuch27 [327]

Answer:

B. it ignores the firm's demand curve.

Explanation:

A: With the help of average cost pricing, the fixed cost can quickly estimate. Therefore, it cannot be the answer.

C: The average cost must consider the effect of variable cost. Therefore, it is also the wrong statement.

D: It is easy to estimate profit if there is an average cost pricing.

B: average-cost pricing always ignores the demand curve because it is a "U" shaped curve. Because after a certain level of product selling, the average cost is increasing. On the other hand, demand curve is such that if the price decreases, the quantity demanded increases. Therefore, it is a downward slopping curve. Hence, it is understood that, average-cost pricing ignores demand curve.

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3 years ago

Where in a business plan should the executive summary go?

scoundrel [369]

I think the answer is in the middle

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3 years ago

Why would american soybean producers care about the weather in south america? Is this distinction macro, micro, or a mixture of

dimulka [17.4K]

Answer: Macro

Explanation:

This is a macro distinction as the producers of soybean in America are concerned about the crop grown in South America as it will affect the overall price level of soybean in America. When the weather in South America is favorable and the crop produce is large, the supply curve for soybean will shift to the left driving down the overall price level of soybean in America.

Thus, because the concern here is about the overall produce and overall price level it is a macro distinction.

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3 years ago

A linear programming approach is usually used by managers involved in portfolio selection to maximize risk. minimize risk. maxim

Pavlova-9 [17]

Answer: maximize return on investment

Explanation:

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Therefore, linear programming approach is usually used by managers involved in portfolio selection to maximize return on investment.

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3 years ago

For a continuous review policy, 74% cycle service level, lead time equals 1.5 weeks, and standard deviation of weekly demand

svet-max [94.6K]

Answer:

C. 157

Explanation:

Safety stock = Z-score * Standard deviation of average demand * √lead time

Z-score for 74 % service level is 0.643

Standard Deviation of demand is 200

Lead Time = 1.5 weeks

Safety stock = 0.643 * 200 * √1.5

Safety stock = 0.643 * 200 * 1.224745

Safety stock = 157.502

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2 years ago