Answer:
-0.5
Explanation:
Marginal rate of technical substitution (MRTS) refers to the rate at which the inputs are substituted for one another in a production of particular good.
Given that,
The marginal product of labor = 10
The marginal product of capital = 20
Hence,
= - 0.5
Therefore, the marginal rate of technical substitution is - 0.5.
Answer: high work specialization
Explanation:
Job specialization is when workers have education, knowledge, and experience with regards to a particular area of expertise. It brings about efficiency at the workplace.
Some individuals want work that makes minimal intellectual demands and provides the security of routine; for them, high work specialization is a source of job satisfaction.
It is determined by subtracting the value of the output from the value of the intermediate goods. As double counting, a severe mistake when estimating national income, is concerned, the value-added approach is a widely utilized method for computing national revenue.
A mistake known as double counting in accounting occurs when a transaction is counted more than once for any reason. But when an attempt is made to quantify the new value produced by Gross Output or the value of all investments, it also alludes to a conceptual issue in social accounting practice.
A mistake known as double counting in accounting occurs when a transaction is counted more than once for any reason. But when an attempt is made to quantify the new value produced by Gross Output or the value of all investments, it also alludes to a conceptual issue in social accounting practice.
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If an individual is in financial difficulty due to which she cannot be able to pay their loans, in that case, she can ask the creditor for a lower payment plan.
<h3>What is meant by a loan?</h3>
A loan occurs when an individual who is in need of funds takes the money from the lender. The amount taken is required to be paid back along with interest.
The lower payment plan can be made by the creditors from whom she has taken the loan. She must explain her financial hardship regarding the non-payment of their current loans so that the creditor can reduce the payments accordingly. This means negotiating the loan payments in equal monthly installments as per her financial capability.
Therefore, she can ask for the minimum payment plan from the creditors in order to pay off her loans.
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