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Naily [24]
3 years ago
9

Which of the following statements is (are) TRUE?

Business
2 answers:
tatiyna3 years ago
4 0

Answer:

I. If labor and capital are perfect substitutes in production, the isoquant is a straight, downward-sloping line.  

II. If a company needs to use inputs in fixed proportion such that the capital to labor ratio is always 2, the firm's isoquants are L-shaped.

Explanation:

Perfectly substittuable goods have straight downward sloping ICs, and have corner solutions .

Complementary goods (used in fixed proportions) are L shaped always , In case of min(x,y) function, the answer is the value of x or y which ever is minimum and not their sum.

Therefore, Only statements I and II are true.

dalvyx [7]3 years ago
4 0

Answer:

Only statements I and II are correct

Explanation:

Perfectly substittuable goods have straight downward sloping ICs, and have corner solutions

Complementary goods (used in fixed proportions) are L shaped always

In case of min(x,y) function, the answer is the value of x or y which ever is minimum and not their sum

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Suppose that the adult population in the country of Atlantis is 140 million. If 90 million people are employed and 10 million ar
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Let's assume that Atlantis has 140 million adult residents. If there are 90 million employed people and 10 million unemployed people, that leaves 40 million people out of the labor force.

What does the term "labor force" mean?

All people who meet the criteria for inclusion among the employed or unemployed make up the labor force, also known as the population that is currently engaged in labor-force activities. The term "employed" refers to people who work for pay or profit at least one hour per week or who hold a job but are momentarily off the clock due to illness, vacation, or a strike. The armed forces include anyone who served in the armed forces during the time in question, whether they were stationed in the metropolitan territory or elsewhere, and was selected from the pool of all workers available.

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6 0
11 months ago
A $200 petty cash fund has cash of $20 and receipts of $177. The journal entry to replenish the account would include a credit t
IRISSAK [1]

A $200 petty cash fund has cash of $20 and receipts of $177. The journal entry to replenish the account would include a credit to:

d. Cash for $180

Explanation: As observed above the petty cash receipts are falling short of $3, But that will be adjusted with expenses as its a small amount and balance of $200 needs to be maintained in the petty cash.

6 0
3 years ago
Read 2 more answers
Which of the following is NOT one of the three big categories for periodic evaluations:
Lilit [14]

The category that does not belong to the periodic evaluation is Change Analysis.

Option D is the correct answer.

<h3>What is a periodic evaluation?</h3>

Periodic evaluation is a technique that is totally developmental in nature and disregards the formal advice relating to tenure, retention, or promotion of employees.

Periodic evaluation has three broad categories namely, hazard analysis, safety, and health-related inspections, and evaluation relating to personal protective equipment (PPE).

Therefore, out of the provided options, Change analysis is not considered a category for periodic evaluation.

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4 0
1 year ago
In agriculture, a "bumper crop" refers to a particularly productive harvest. if there is a bumper crop for wheat at the same tim
WINSTONCH [101]
<span>The equilibrium price will go down and equilibrium quantity will be indeterminate.
Bumper crop refers to a situation when a certain type of crop exeprience sudden bump in productivity. If at that exact time more people become allergic to this crop, the crop would be overly stocked in the warehouse and the owner would most likely sell it at lower price.</span>
7 0
3 years ago
What is the difference between an increase in demand and an increase in quantity demanded?.
Setler [38]

Answer:

Quantity Demanded is a shift up/down a demand curve

Increase in Demand is a shift in the curve itself.

Explanation:

There will be an increase in Quantity Demanded when price goes down. There is a Quantity Demand change when there is a price change. (QD goes up when Price goes down, QD goes down when price goes up)

An increase in demand is when one of the shifters of demand change. So for example, if number of consumers (one of the shifters) increase, the demand curve increases, and shifts right, meaning more quantity at each pricepoint.

4 0
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