1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vaieri [72.5K]
2 years ago
7

Producing output at the lowest possible total cost per unit of production is: Multiple choice question.

Business
1 answer:
alexandr402 [8]2 years ago
5 0

Efficiency is defined as the production of  output at the lowest possible total cost per unit of production.

Efficiency involves maximizing all the benefits and importance of the 4

labors of production such as Land, Capital and Labor. When this occurs

efficiency is achieved and the cost of production decreases.

The decrease in the cost of production thereby gives rise to a corresponding increase in profit.

Read more on brainly.com/question/25487093

You might be interested in
Question 10 (5 points)
Shkiper50 [21]

Answer:

I think it's a store manager who is paid an hourly rate

Explanation:

5 0
3 years ago
Read 2 more answers
This chapter states that most economists would probably maintain that new technologies are the single most important source of p
maks197457 [2]

Answer:

the correct answer is c)Poor countries do not benefit from new scientific knowledge to the same degree that rich countries do, since they lack the resources required to apply the knowledge widely in a beneficial way.

Explanation:

although novel technologies enable economies to be more productive and achieve greater potentials, in poorer countries they lack the necessary infrastructure and human resources to harness the full potential of this technologies. Also, the initial costs of applying these technologies is higher as well.

Because of this, these new technologies do not benefit the poor countries much.

4 0
3 years ago
Daniel and his intramural team just won the co-ed volleyball tournament, and they’re celebrating at an all-you-can-eat pizza pla
Gre4nikov [31]

Answer:

a. trade-offs 

c. marginal thinking 

Explanation:

Marginal thinking is when a decision maker evaluates the marginal benefits and marginal cost of a certain activity. Daniel is trying to evaluate if the extra calories (marginal cost) he would get from eating the 5th size of pizza (marginal benefit) is worth it.

Trade offs is also known as opportunity cost. It is what is sacrificed in order to carry out a certain activity. If Daniel eats the pizza, he's sacrificing a more healthy body for the extra slice of pizza.

I hope my answer helps you

5 0
3 years ago
Carla is preparing a speech. How will creating an outline most help her speech?
lisov135 [29]
It will help organize the flow of ideas
5 0
2 years ago
Consider the following production function: q = 7LK + 5L^2 - (1/3) L^3. Given the following expressions for the marginal product
natali 33 [55]

Answer:

The  value of the marginal rate of technical substitution when K = 30 and L = 15 is 1.285

Explanation:

MRTS_KL = MP_L/MP_K

                 = (7K + 10L - L^2)/7L

                 = (7*30 + 10*15 - (15)^2)/7*15

                 = 1.285

Therefore, The  value of the marginal rate of technical substitution when K = 30 and L = 15 is 1.285

6 0
3 years ago
Other questions:
  • The main reason that gross national income figures can be misleading is because they
    14·1 answer
  • The price of a new computer game has demand of 3,000 units at $50 and 2,500 units at $60. Calculate the Price Elasticity of Dema
    14·1 answer
  • Licensee Jim listed a property and Licensee Sally sold the property to her client. Jim and Sally work for the same brokerage. Th
    7·1 answer
  • What complex issues make it difficult for Early Childhood Education professionals to partner with families?
    6·1 answer
  • What is the foremost strategic issue that must be addressed by firms when operating in two or more foreign markets? multiple cho
    10·1 answer
  • The world price of a ton of steel is $1,000. Before Russia allowed trade in steel, the price of a ton of steel there was $650. O
    5·1 answer
  • Ecco Company sold $151,000 of kitchen appliances with six-month warranties during September. The cost to repair defects under th
    15·1 answer
  • Why should an employer have employees sign a copy of the company's personnel policy?
    12·2 answers
  • King, CPA, is auditing the financial statements of Cycle company, a client that has receivables from customers arising from the
    13·1 answer
  • what is the present value of $7500 per year, at a discounted rate of 7.1%, of the first payment is received 6 years from now and
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!