Answer:
Option (b) is correct.
Explanation:
(a) If a producer uses the almost same quantities of all the factors of production and if marginal output remains the same then this will lead to no gains.
(b) This is done by purchasing the combination of inputs which are yielding higher marginal outputs.
(c) This would result in a loss because all the resources are not utilized properly or we can say that resources are not used at their potential.
(d) For achieving the level of profits, labor should be devoted to the work for maintaining the higher level of growth in production.
Being verbal during an interview is a important thing <span />
Answer:
The final value of the investment after 3 years is $7,146.10
Explanation:
Giving the following information:
Investment= $6,000
Interest rate= 6% compounded annually
The number of years= 3 years.
To calculate the final value, we need to use the following formula:
FV= PV*(1+i)^n
FV= 6,000*(1.06^3)
FV= $7,146.10
The final value of the investment after 3 years is $7,146.10
Answer:
1. Medium of exchange, 2. Unit of Account and 3. Store of value
Explanation:
Please see attachment
