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morpeh [17]
3 years ago
8

A jeweler can potentially use two inputs in her handcrafted jewelry: copper or bronze. She finds that when she minimizes her cos

ts (i.e. she is optimizing), she uses either copper or bronze, but never both. If these are her two inputs, what must her isoquants look like?

Business
1 answer:
True [87]3 years ago
6 0

Answer:

The isoquants will be straight parallel lines.

Explanation:

In the given secanrio copper or bronze may be used to produce jewellery. The utility derived from use of either one is the same. They are perfectly interchangeable. Therefore copper and bronze are perfect substitutes.

The isoquant curve shows all combinations of input that can be used to produce units of output.

For goods that have perfect substitution the isoquants are straight lines that are parallel to each other. The marginal rate of technical substitution is 1, and isoquant have slope angle of 45° with each axis.

Find attached an illustration of this. So copper is a perfect substitute for bronze.

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Bonnie invested $8,000 in two accounts paying 5% and 6% annual interest. Her money earned a total of $445 in interest in one yea
polet [3.4K]

Answer:

6% = 4500

5% = 3500

Explanation:

wo equations can be derived from the question

x + y = $8,000 equation 1

0.05x + 0.06y = $445. equation 2

x = amount invested in 5%  

y =  amount invested in 6%  

multiply equation 1 by 0.05

0.05x + 0.05y = 400 equation 3

subtract equation 3 from 2

0.01y = 45

y = $4500

substitute for y in equation 1

8500 - 4500 = 3500

5 0
3 years ago
The FIFO method provides a major advantage over the weighted-average method in that: A. the calculation of equivalent units is l
Scrat [10]

Answer:

C. the FIFO method separates the work done during the current period to provide measurements of work done during the current period.

Explanation:

When you are calculating production costs and equivalent units, FIFO method only focuses on the goods produced during the accounting period and basically doesn't consider previous costs associated to beginning inventory. On the other hand, the weighted average method includes both current costs and costs associated to beginning WIP.

3 0
3 years ago
Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are em
amid [387]

Answer:

a) 29%

Explanation:

The formula to compute the unemployment rate is shown below:

Unemployment rate = (Number of Unemployed workers) ÷ (Total labor force) × 100

where,

Number of unemployed = 40 million

Total labor force = Number of unemployed + number of employed

                            = 40 million + 100 million

So, the unemployment rate would be

= (40 million) ÷ (140 million) × 100

= 29%

5 0
3 years ago
Costco is able to keep costs down and offer low prices thanks to a no-frill shopping experience for its 64 million members. They
34kurt

Answer:

Costco is following Customer Oriented Strategy in the business.

Explanation:

Costco offers around 4000 different products to its 64 million members. Costco is now planning to stock more of organic products as the popularity for these products among its customers in gaining significance. Costco has also planned to help farmers to grow organic farms which will benefit the Costco customers. This is customer oriented strategy because Costco is focusing on the needs of its customers.

7 0
3 years ago
If a consumer buys Charmin bath tissue that is the exact same quality as a generic brand only more expensive, Charmin has create
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If a customer purchases Charmin bath tissue at a price that is higher but of the same quality as a generic brand, Charmin has established brand equity with the customer.

What does "brand equity" entail?

A marketing term for a brand's value is "brand equity."Consumer experiences and perceptions of the brand determine that value.Positive brand equity indicates that people value a brand.

What is a brand when multiple products are sold under the same name?

Umbrella branding, also known as family branding, is a marketing strategy in which a single brand name is used to sell two or more products that are related to one another.Companies with positive brand equity (the value of a brand in a particular market) typically employ umbrella branding.

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7 0
1 year ago
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