Illustrate the Optimal or best product-mix
Illustrate the Optimal or best product-mix and also Law of increasing opportunity costs?
Expert
Optimal or best product-mix:
1. It will be some point on the curve.
2. The exact point depends on society; this is a normative decision.
Law of increasing opportunity costs:
1. The amount of other products that must be foregone to obtain more of any given product is called the opportunity cost.
2. Opportunity costs are measured in real terms rather than money (market prices are not part of the production possibilities model.)
3. The more of a product produced the greater is its (marginal) opportunity cost.
4. For increasing opportunity cost the slope of the production possibilities curve becomes demonstrating as well as steeper. This constructs the curve as it emerges concave from the origin and bowed out.
The idea which a virtue of capitalism is decentralized its decision making emerged while: (1) social philosophers looked for alternatives to feudal kings like economic regulators. (2) Russian imperialism fostered anti-communist sentiment after World W
Janet has loaned a start-up coffee house $50,000 and predicts to earn interest from her financial investment. In circular flow model this transaction is an illustration of: (1) An exchange of her saving for interest, via a resource market for the economic capital. (2)
Briefly describe cost of equity shares? And also write down way to evaluate the cost of equity shares?
Entrepreneurs: (w) undertake risky forms of production to gain uncertain profits. (x) obtain interest payments for their services. (y) are usually overcompensated for their innovations. (z) receive virtually all their wealth by inheritance.
The initial “professional” university professors who taught economic concepts like academic subjects, those were: (1) cosmologists. (2) moral philosophers. (3) socio-biologists. (4) natural historians (5) logicians. (6) mathematicians. (7)
Over the long-run the speculators activities are tend to: (1) decrease the volatility of prices. (2) attract legal attention and result in imprisonment. (3) increase the level and volatility of prices both. (4) yield tremendous profits and raise costs
Illustrate the term Economic Rationale?
Writings on the historical process by Adam Smith of economic development do not comprise heavy reliance upon: (1) the development of property rights. (2) self interest. (3) divisions of labor in production processes. (4) innovations d
Question: You are given the following data about two firms: FIRM A Quantity 0
Which two of the six reasons listed in the Last Word do you think are the most important in explaining the rise in participation of women in the workplace? Explain your reasoning.
18,76,764
1934705 Asked
3,689
Active Tutors
1427657
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!