Answer:
Allocative inefficiency.
Explanation:
Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.
In Economics, there are four (4) main factors of production and these are;
I. Land.
II. Labor (working).
III. Capital resources.
IV. Entrepreneurship.
When these aforementioned factors of production are combined effectively and efficiently, they can be used for the manufacturing or production of goods and services to meet the unending requirements or needs of the consumers.
Basically, there are two (2) types of inefficiency associated with the production of goods and services to meet the unending requirements or needs of consumers, these includes;
1. Technical (productive) inefficiency: it occurs when a company or business firm produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
2. Allocative inefficiency: it occurs when a company or business firm do not maximise output from the given inputs such as raw materials, capital, etc. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
Hence, when a business do not maximise output from the given inputs, it is referred to as an allocative inefficiency.
<em>In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.</em>
milk is heated to destroy harmful bacteria
Answer: Digital Assets
Explanation: just did the question
Assuming the options
are:
a. Yes, because it is
good business to maximize profits, and those Foreign citizens are better off with
a job than without one.
b. No, because Gamma
has an ethical obligation to make sure that people who work For them, either
directly or indirectly, are being treated Fairly.
c. No, because Gamma
has a legal and ethical duty to make sure that foreign suppliers maintain
working conditions that meet or exceed American standards.
d. Yes, because Gamma
cannot be expected to investigate and oversee all of their suppliers, and Gamma
is not doing anything wrong
The answer is B. Gamma
has a responsibility to ensure that its workers, including those working
indirectly for the company, are being treated fairly. This is a key ethical
concept in international business, and often a source of controversy, as many
large American companies outsource low-cost labor, and often the conditions
that these employees work in are far from fair.
Answer:
Technology C
Explanation:
Total Cost = Fixed Cost + Variable cost * (Number of Units)
Total Cost for Technology A = $80000 + $2.20*(100,000 units)
Total Cost for Technology A = $300,000
Total Cost for Technology B = $120,000 + $1.85*(100,000 units)
Total Cost for Technology B = $305,000
Total Cost for Technology C = $130,000 + $1.65*(100,000 units)
Total Cost for Technology C = $195,000
Conclusion: The minimum total cost for 100,000 Unit is for process technology C, Hence this technology would be recommended
