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Answer:
An economic union
Explanation:
Economic integration can be defined as a strategic trade arrangement between countries to eliminate or mitigate trade barriers, as well as coordinate fiscal and monetary policy among its members.
Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time. There are different types of market or trade bloc used in economic integration and these includes;
I. Customs union
II. Free trade area
III. Common market
IV. Political union
VI. Economic union
An economic union can be defined as a trade bloc which comprises of both customs union and a common market.
In a common market, there are free movement of the factors of production and no barrier to trade between member countries. Also, a common market establishes a common external trade policy for non-member countries.
However, an economic union entails even closer economic integration and cooperation among member countries than a common market because it combines customs union and a common market.
Answer: It’s research the issues
Explanation:
The other answer is wrong
Answer:
A.$12,000
B.$8000
C.MRPL/PL = 3
MRPK/PK =2
D) Since each of the above calculated ratios are more than one, therefore adding additional worker or tractor will increase the total revenue for each of the dollar spent.
Explanation:
(a) The Marginal Revenue Product of Labor (MRPL) can said to be the additional revenue generated when an additional worker is employed.
$66,000 - $54,000 = $12,000
Thus, MRPL is 12,000
b) Marginal revenue product of capital is
( 62000 - 54000)= $8000
c) MRPL/PL = 12000/ 4000= 3
MRPK/PK = 8000/4000=2
Therefore Since these two ratios are not equal it means the firm is not using the least cost combination of inputs.
d) Since each of the above calculated ratios are more than one, therefore adding additional worker or tractor will increase the total revenue for each of the dollar spent.
Answer:
Organizational
Explanation:
An organizational structure in one in which certain activities are aligned to achieve the ultimate goal of the organization. Here also Apple Inc. has arranged all similar types of set of machines together to get particular output product. The cost drivers in organizational composition can influence the output of a company.
