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makkiz [27]
3 years ago
5

Explain the difference between the law of diminishing marginal returns and the law of dininishing marginal rate of techinal subs

titution.
Business
1 answer:
leonid [27]3 years ago
3 0

Answer:

The primary difference between those two concepts is focus that each term has. The first one focus on the relationship between the level of production and the level of return. While the second one focus on the relationship between the level of production and the amount of factors used for that production.

Explanation:

One the one hand, the law of diminishing marginal returns is a concept known in the microeconomics theory due to the fact that it establishes the relationship between the productivity and the income for every aspect of it. Meaning that, when the productivity increases because of the increase of only one factor of production then the income will start to slowly decrease, confirming that when only one factor is increased the production will start to be incomplete and the return will decrease for that.

On the other hand, the law of diminishing marginal rate of technical substitution indicates the relationship between the level of output and the different factor used to produce. Meaning that, it shows how to keep the level of output the same while making changes in the amount of factors used.

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Without a strong and efficient marketing channel system, merchandise isn't available when customers want it. True False
Andrews [41]

Answer:

TRUE

Explanation:

Network representatives add value for suppliers and clients alike. They balance the difference between buyers and sellers in terms of time, location, and ownership.

  • Channel representatives collect demand and supply information to make the services available on the marketplace.

At a market level, product placement relates to the wide range of products available on the market and presentation of those items in such a manner as to generate curiosity and entice investors to make a buy.

8 0
3 years ago
Concentration ratios measure the Group of answer choices geographic location of the largest corporations in each industry. degre
nika2105 [10]

Answer:

percentage of total industry sales accounted for by the largest firms in the industry.

Explanation:

The concentration ratio calculated the market share percentage for an industry and the same is held by the larger firms inside the industry. Also it determined the total output that could be generated from the number of firms in the industry

Therefore as per the given options, the above options should be considered correct

3 0
3 years ago
When we are doing the double entry for the closing inventory, why do we credit the inventory? I understand why we debit the clos
anastassius [24]

Answer:

Debiting in this case means to add to the inventory. Therefore, crediting means that inventory was used up when closing inventory.

Explanation:

A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. ... A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.

3 0
3 years ago
True or False: Most of the value added included in GDP in the United States is added by businesses rather than consumers.
shtirl [24]
The answer to this is true
7 0
3 years ago
Cyclical unemployment: a) rises during recession. b) falls during recession. c) rises during expansion. d) is a part of natural
dimulka [17.4K]

Cyclical unemployment: rises during a recession

<h3><u>What is Cyclical unemployment ?</u></h3>
  • Cyclical tendencies in growth and output, as shown by the GDP, that take place throughout the economic cycle are what are meant by cyclical unemployment.
  • Cyclical unemployment is defined by economists as the situation that arises when firms don't have enough demand for labor to hire all people who are searching for work at that particular stage of the business cycle.
  • There may be a commensurate decrease in supply output to make up for a loss in demand for a good or service.
  • To fulfill the lower norm of production volume, fewer workers are needed when supply levels are cut.
  • The corporation will discharge any employees who are no longer required, which will result in their unemployment.

To learn more about Cyclical unemployment, refer to:

brainly.com/question/14227610

#SPJ4

6 0
1 year ago
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