Answer:
a. The production function in the Solow growth model is Y = F(K, L), or expressed in terms of output per worker, y = f(k). If a war reduces the labor force through casualties, then L falls but k = K/L rises. The production function tells us that total output falls because there are fewer workers. Output per worker increases, however, since each worker has more capital.
b. The reduction in the labor force means that the capital stock per worker is higher after the war.
Answer: The actual cost of materials was less than the standard cost
Explanation:
Net materials cost variance = Favorable materials price variance + Favorable materials quantity variance
= 380 + (-120 unfavorable)
= 380 - 120
= $260 favorable
<em>As the materials cost variance is favorable, it means that the actual cost of materials was less than what was budgeted for it or rather its standard cost. </em>
Answer:
Option ( a ) is Correct
Explanation:
Emphasizes that it is difficult to develop and sustain a competitive advantage based on resources alone.
A firm can not sustain and develop a sustainable competitive advantage solely based on resources there are many more things that firms shroud consider like these resources should be inimitable.
A perfectly competitive market has many buyers and sellers (option c).
<h3>What is a
perfectly competitive market ?</h3>
A perfectly competitive market is a market where there are many buyers and sellers of identical goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry. These makes buyers and sellers price takers.
An example of a perfectly competitive market is the market for tomatoes.
To learn more about perfect competition, please check: brainly.com/question/17110476
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Except for liability and assets. Accounting standards characterize an advantage as something your organization possesses that can give future financial advantages. Money, stock, debt claims, arrive, structures, hardware - these are on the whole resources. Liabilities are your organization's commitments either cash that must be paid or benefits that must be performed.