Land, labor, entrepreneurship and capital are called factors of production since they are transformed into output during the production process.
Factors of production are needed for the production of goods or a service.
Land as a factor of production include the every type of land and the various goods received from it such as oil, gold etc. It can be agricultural land to any real estate commercial land.
While defining labor as factor of production we use their potential to work.
Capital includes money used for performing various functions of production. It is the primary driver of the production.
Entrepreneurship is that element which combines all other factors of production to form a single product or service.
To know more about factors of production here:
brainly.com/question/988852
#SPJ4
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
Charge $150 for a suit
Explanation:
Bundling strategy is the pricing of goods by a business despite different customers having different preferential prices they are willing to pay for the good.
In this scenario Consumers of type A will pay $100 for a coat and $50 for pants. Consumers of type B will pay $75 for a coat and $75 for pants.
The two customers are willing to pay $150 for both the jacket and the pants.
So the best decision for the company is to sell a suit made up of the jacket and pants for $150.
This way bother customers will get their preferred price.
The true statement is that in the effective rate formula, n is equal to one. Compound interest is the interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or a loan. It is calculated using the formula
A= P (1 + r/100)^n, where A is the accumulated amount, P is the principal amount, r is the rate of interest within a given period and n is the interest periods.
Answer:
D. There will be a greater quantity of computer operating systems available in the market.
Explanation:
The only certain consecuence of more producers entering the market is that there will be a greater quantity of the good or service in the market.
From the price perspective: <u><em>product price tends to fall or rise. </em></u>
As more competitors enter a market the price of the <u><em>product tends to fall</em></u> because the producers will look for a cheaper price than the prices existent for computer operating in order to capture more clients. But at the same time the already stablished producers will look for differentiation factors and will<u><em> increase the price of the systems. </em></u>
