Answer:
An allocation of labor (L) and capital (K) between two firms that makes the firms' isoquant curves tangent in an Edgeworth box ( C )
Explanation:
A contract curve is a curve on which the various final allocations of two goods or service between two people are represented and this could be mutually beneficial as well. hence the best description of a point that lies on an input contract curve is An allocation of labor (L) and capital (K) between two firms that makes the firms' isoquant curves tangent in an Edgeworth box
Answer: C. An estimate that offers to provide goods and services at a
specified price and sometimes by a specified date
Explanation:
is the correct answer
Answer: True
Explanation: The incremental internal rate of return is the analysis of the financial return on what investment an investor or entity can invest in when two or more competing investment opportunities are involved.
When comparing two or more alternatives, the alternative with the highest rate of return is not necessarily the alternative that maximizes profit at the minimum acceptable rate of return.
During the selection process, if the incremental rate of return is greater than or equal to the minimum acceptable rate of return, then the more costly alternative is selected and this is continued until all alternatives have been considered.
Answer:
B. if all resources are fully and efficiently utilized, more of one good can be produced only by producing less of another good.
Explanation:
Assuming that production is optimally efficient, the production possibility frontier model shows the different possible quantities that two separate commodities may be produced at when there is a limited availability of a certain resource which are required by both commodities for manufacture.
The model assumes that the production of one commodity can only be increased when the production of the other commodity decreases due to the limited available resource.
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