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nata0808 [166]
3 years ago
9

A production function describes a. how a firm maximizes profits. b. how a firm turns inputs into output. c. the minimal cost of

producing a given level of output. d. the relationship between cost and output.
Business
1 answer:
leonid [27]3 years ago
8 0

Answer:

d. the relationship between cost and output.

Explanation:

Production function describes how the output of a production function <em>relates </em>to differing levels of input factors such as labor , technology and machine.

The higher the input factors, the higher the physical output whereas, the lower the inputs, the lower the physical outputs of production.

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When one nation can produce a product at lower cost relative to another nation, it is said to have a(n) __________________ in pr
guajiro [1.7K]

Answer:

absolute advantage

Explanation:

In such a scenario the nation is said to have an absolute advantage in producing that product. Like mentioned, this term refers to the ability of a nation to be able to produce a greater quantity of a good, product, or service than its competitors at a lower cost. This allows the nation to profit massively as well as having more opportunities.

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the 360 degree feedback performance appraisal system tries to improve performance ratings by forcing managers to :
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Include information from a wide range of sources in their reviews.

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Performance appraisal refers to the evaluation of employees' performance by the human resource managers in an organization. The 360-degree feedback performance appraisal system is a type of performance appraisal that sources information about an employee from various sources, which ranges from subordinates, lateral and supervisory sources. This implies that the manager seeks to gain insight about the employee from his fellow employees, from his supervisors, his subordinates, and sometimes from external sources such as the customers who interact with that employee on a daily basis.

Most managers use this system of appraisal for developmental purposes and evaluation of an employee's performance. Information sourced can then be used to help the employees improve on their skills or promote/demote them.

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3 years ago
American express and discover card are examples of open loop systems. <br> a. True <br> b. False
PtichkaEL [24]
A. True
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6 0
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How can the military support your career goals
Setler [38]

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Explanation:

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The marginal seller is the seller who
trapecia [35]

Answer:

b. would leave the market first if the price were any lower.

Explanation:

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