Division of labor is breaking down the production of good

Assignment Help Business Economics
Reference no: EM131165465

1. A dentist might charge his patient a cancelation fee if the patient didn't give the debris 24 hours notice they were going to cancel. the justification to this fee is: a) limited cost b) opportunity cost c) scarcity d) comparative advantage

2. T/F Trade-offs can lead to economies of scale, division of labor, and specialization of Labor.

3. an economy has a comparative advantage in producing a good if it can produce that good at a ________ opportunity cost than could other economies. a) higher b) lower c) the same d) consistent

4. T/F Division of labor is breaking down the production of a good into separate tasks.

5. T/F One scenario that can be applied to opportunity cost is the guns vs butter debate.

Reference no: EM131165465

Compute the company total costs

Compute the company's total costs, and graph the revenue curve and the total cost curve. Do the curves have the shape you expect. Over what range of production is the company

What trade-exchange for one banana

Suppose Jimmy says that he is willing to give up three apples in exchange for one banana, or give up one banana in exchange for three apples. Either trade is alright with him.

What is the discount rate on this t-bill

A 90 day T-Bill is selling for $9,915. The par is $10,000. What is the discount rate (discount yield) on this T-Bill? What is the bond equivalent yield on this investment? Wha

Quantitative assessment and qualitative assessment

In this week's readings, you learned about two methods of risk analysis: quantitative assessment and qualitative assessment. Explain the steps taken to assess a risk from a

Production possibility frintier-production possibility curve

Production Possibility Frintier and Production Possibility Curve (PPC) are the same thing. Suppose that Jeffrey can produce a maximum of 50 units of corn, 20 units of grapes,

Suppose that capitals and labors shares

Suppose that capital's and labor's shares at .3 and .7. What would the effect be of increasing the pool of labor by 10 percent? If the increasing labor is due to population gr

Elucidate the price elasticity of demand for nba games

Elucidate the price elasticity of demand for NBA games after the ticket increase. Is demand elastic or inelastic. Is the increase a sound financial move. Why or why not.

Super neutrality and changes in money growth

Consider the basic flexible-price, market-clearing model (which satisfies the Classical Dichotomy) in which r and Y are constant as long as there are no shocks to preferences

Reviews

Write a Review

 
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd