Answered: 66. Which of the following input factor…

66. Which of the following input factor takes risk, innovates and coordinates А. О Сapital B. O Labour C. O Productivity D. O Entrepreneur

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 10RQ: Give the three reasons that explain why the division of labor increases an economys level of...

See similar textbooks

Related questions

Q: A start up business is considering two types of equipment - data are as follows: TYPE A TYPE B First...

A: Given, First Cost of Type A : P200,000First Cost of Type B : P300,000

Q: 1. If the cost function of producing a commodity is: 40 + 50x + Vx2 +110 C (x) == where x represents...

A: The given cost function is: C(x) = 40 + 50x + VX2 + 110 Assuming V is a constant greater than 0 To f...

Q: Consider the strategic form game represented by the following bimatrix, where player 1 is the row an...

A: The given matrix is:

Q: Q1) Assume a market of a specific good. The demand and supply equation is as shown below: P = 70 - 3...

A: PD= 70-3QD PS= 5+2QS

Q: Possible methods for avoiding the externalities in a free-market economy?

A: An externality refers to the benefits or costs which are caused by yhe producers but are not incurre...

Q: Utilize the provided goal post of the United Nations. Based on the given information: a. Life expect...

A: Given Information: Life expectancy(LEV) =67 years Adult Literacy= 68% Gross enrolment = 50% GNI pc= ...

Q: what exit strategy are available to firms who desire to leave a market during the Covid 19 pandemic

A: The exit strategy is a strategy that is used by the firm to exit the market strategically. It is a s...

Q: I. Increase in interest rates causes the supply curve to shift. II. Monetary expansion causes a decr...

A: 1) Increase in the interest rate causes the supply curve to shift In the financial market interest r...

Q: As we talk about development economics, it is concerned with _____. a. efficient allocation of scarc...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: Why is saving important for economic growth and development

A: Meaning of Economics: The term economics refers to the situation under which there remain transact...

Q: Number of wells Total water output (in 1000s of liters/day TR TC AVR Profit 0 0 0 0 0 0 10 100 10000...

A: Total profit is the difference between total revenue and total cost. Total revenue is the revenue th...

Q: Compare the effect of having more capital and technological change on the long run economic growth.

A: Economic growth is described as a process in which the output of commodities and services increases ...

Q: Outline why the culture of a country might influence the costs of doing business in that country.

A: Cultural influences influence how people are handled based on their values and priorities, which has...

Q: Answer true or false • Developing countries typically have low real GDP per capita, high birth rates...

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any sp...

Q: A. The price of gasoline increases from 16 per barrel to 30 per barrel and as a result, the demand p...

A: Arc Elasticity Formula: [(Q2-Q1)/Midpoint of Q]/[(P2-P1)/Midpoint of P] If the cross elasticity is n...

Q: Answer if TRUE OR FALSE • Population growth rate has a major effect/impact on the economy of the nat...

A: In a country, population refers to the number of people living in the country and earning their live...

Q: The total price of purchasing a basket of goods in the United Kingdom over four years is: year 1=£94...

A: Inflation is the rate at which prices rise over a given time period. Inflation is typically defined ...

Q: Discuss the following statements : explain whether the statement is TRUE or FALSE, and provide justi...

A: Two utility functions that provide the same rank ordering of consumption bundles are positive monoto...

Q: According to the textbook, games do not have the oppositional subtleties or complexities that can be...

A: A film adaptation is the transformation of a work or storey into a feature film, in whole or in part...

Q: economic system differ from the American economic system in terms of the relationship between state ...

Q: Price (dollars per bunch) 24- S+tax 22 20 1818 16 14-14 12 10- D 60 80 20 40 60 80 100 120 140 Quant...

Q: Match the following situation to the best description in the pull-down menu: Higher energy bills cau...

A: Demand curve shows an inverse relationship between price and quantity demanded while supply curve sh...

Q: e horisontal i horisontal int constitute. h is levied

A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If y...

Q: Table 24-2 The following table pertains to Wrexington, an economy in which the typical consumer's b...

A: Consumer price index(CPI): - it is a measure of change in the price level, it measures the change in...

Q: EXPLAIN THREE WAYS IN WHICH TAXATION AND GOVERNMENT SPENDING IMPACT THE ECONOMY POSITIVELY AND NEGAT...

A: Positive impact of taxation Cutting taxes enhance demand by increasing disposable income and encoura...

Q: Supply Demand QUANTITY For an output level exactly at QE, the value of a unit to a buyer is the cost...

A: Given:-

Q: Opportunity cost is all about making choices and how you adequately and effectively manage it. What ...

A: Managrial economics is a part of financial matters including the utilization of monetary techniques ...

Q: Abbott wants to increase their marketing for Pedialyte leading up to St. Patrick's Day this year. Th...

A: Given information Ad cost=$5000000 at week 2/13/2022 Ad cost on 3/6=$800,000 Sales on 2/20=$500,000 ...

Q: Demand and supply for a good are given as Qd = 100 - 2P and Qs = -8 + P, respectively (Q is in 1000 ...

A: DISCLAIMER “Since you have asked multiple question, we will solve the first three question for you....

Q: 64. When Marginal Utility is zero, Total Utility is A. O Minimum B. O Maximum C. O Law of return D. ...

A: The satisfaction that is being derived by consumers from the consumption of service or goods is bein...

Q: Federal Reserve Private Bank Assets Liabilities Assets Liabilities -$50m T-bills -$50m monetary base...

A: In the question above, it is given that : Federal Reserve Private Bank Reserve Ratio = 50% = 0.50 ...

Q: The OEM company specializing in printed circuit board manufacturing has annual fixed expenses of P50...

A: Break-even point:- BEP=FCP-VC where; FC= Fixed Cost P= Price VC= Vari...

Q: What is a real life example of what is happening at the 'cross' of the 'X', or where the labor deman...

A: The market supply of labor is the number of workers of a particular type and skill level who are wil...

Q: The unemployment rate of a certain country shortly after the Great Recession was approximately 5t + ...

A: Given The employment rate is given by ft=5t+301t2+23 0≤t≤4 t =0 corresponds to the beginning of...

Q: In an Edgeworth box, illustrate that a Pareto-efficient equilibrium, point a, can be obtained by com...

Q: How is regionalism different from and yet a part of globalization?

A: Meaning of Globalization: The term globalization refers to the situation under which there are two...

Q: Abbott wants to increase their marketing for Pedialyte leading up to St. Patrick's Day this year. Th...

A: Given, The Ad cost : $5,000,000 at week 2/13/2022The Ad cost on 3/6 : $800,000Sales on 2/20 : $500,...

Q: Should the Imitation Gap Theory be discarded as a practical explanation of trade pattern? Please cit...

A: No, the Imitation Gap Theory is not to be dismissed as a viable explanation for trade patterns. In 1...

Q: The relationship between output and eoyment is: O dirgct inverse Oup and down repeatedly constant

A: Firm hire labor in order to produce the required output and give them wages in exchange of their ser...

Q: True/False/Uncertain Suppose there is a reallocation from state R to state Q. The Scitovsky paradox ...

A: A Pareto improvement is said to have arisen when at least one person becomes better off without anyo...

Q: Buyers as a group determine supply, and sellers as a group determine the demand of the product a. ...

A: Buyers are those who buy anything from the market. Buyers engage in the purchase of goods and servic...

Q: A corporate expects to receive $36,144 each year for 15 years if a particular project is undertaken....

A: The difference between the present value of cash inflows and the present value of cash outflows over...

Q: UIV . 3. What is structural unemployment? Give examples of structural unemployment. %3B

A: Among the four types of unemployment, structural unemployment is one of the types that is increasing...

Q: For K > 0 andL > 0, the production function F(K,L) = 2KL + K has a. increasing returns to scale b. d...

A: It has given that, K > 0 and L > 0 Now,F(K,L)=2KL+KAs K>0 and L>0lets assume K=2 and L=2...

Q: What are the economic consequences of the war between Russia and Ukraine on the global economy ( U.S...

A: The invasion of Ukraine by Russia poses significant threats to a global economy already reeling from...

Q: 2) A company purchased a machine for $20,000 and paid transportation cost of $5,000. At the end of 7...

A: Salvage value is the book value of an asset after all depreciation has been fully expensed. The salv...

Q: 4. Consider the market for Citrus used car in which lemons account for 40% of the used cars offered ...

A: Suppose x number of used cars will be offered in the market for sale. Number of lemon Citruses = 40%...

Q: Two people trade two goods that they cannot produce. Suppose that one Mary's indifference curves are...

A: Assume the two goods are good X and good Y. Let Joe's origin be on the northeast corner of the Edgew...

Q: A. Assume a market of a specific good. The demand and supply equation is as shown below: Po = 70 - 3...

A: Supply curve shows a positive relationship between price and quantity supplied. When Supply curve sh...

Q: tt wants to increase their marketing for Pedialyte leading up to St. Patrick's Day this ha Superbowl...

A: *Answer: Given information Ad cost=$5000000 at week 2/13/2022 Ad cost on 3/6=$800,000 Sales on 2/20...

Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

I need the answer as soon as possible

66. Which of the following input factor
takes risk, innovates and
coordinates
А. О Сapital
B. O Labour
C. O Productivity
D. O Entrepreneur

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Introduction

VIEW

Solution

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Why do you mink the U.S. experience with inflation over the last 50 years has been so much milder than in many other countries?
a. What does the expression “marginal product of labour” mean? b. Why do workers (skilled and unskilled) migrate from labour abundant countries to countries with a scarcity of labour? c. How has that migration of labour been of advantage to other countries?
Chose the trrue statement. a. Sincce the mid 1800ss , Unitedd States of America has experienced substantial migration in workforce in the following order: From service sector to agriculture, and then from agriculture to manufacturing. b. Moderniization or advances in technology, and smarrter processes are example factors that have increased manufacturing productivity in the US. c. The Clarrk-Fisher hypothhesis implies that as productivity increases in one sector, the labor force moves to another sector. d. b and c are true.
A6 What is the response in a firm’s labour demand to a fall in the price of capital? How might such a change in the price of capital impact low and high skilled workers? Illustrate your answer with diagrams and / or a model, 500 WORD COUNT, NO PLAGIARISM.
hy does a measure of labor productivity—the output produced per worker– rise for many firms during recessions? During the boom years period of 2005through November 2007, the annual average output per worker was lower in U.S.manufacturing than during the Great Recession of 2007–2009 as well during therelatively low-demand years since then through 2013.Firms produce less output during recessions as demand for their products falls.Consequently, firms typically lay off workers during recessions. Thus, whetheroutput per worker rises or falls depends on whether output or employment fallsby more. The labor productivity pattern over the business cycle differs across in-dustries. If we know about a firm’s production process, can we predict whetheroutput produced per worker will rise or fall with each additional layoff?
A5 What is the response in a firm’s labour demand to a fall in the price of capital? How might such a change in the price of capital impact low and high skilled workers? Illustrate your answer with diagrams and / or a model.
Increases in the amount of human capital in theeconomy tend to _________ real incomes becausethey increase the _________ of labor.a. increase; bargaining powerb. increase; productivityc. decrease; bargaining powerd. decrease; productivity
Hospitality Hotels forecasts monthly labor needs.(a) Given the following monthly labor fi gures, make a forecastfor June using a three-period moving average and a fi veperiod moving average. Month Actual ValuesJanuary 32February 41March 38April 39May 43 (b) What would be the forecast for June using the naïvemethod?(c) If the actual labor fi gure for June turns out to be 41, whatwould be the forecast for July using each of these models?(d) Compare the accuracy of these models using the meanabsolute deviation (MAD).(e) Compare the accuracy of these models using the meansquared error (MSE).
40. Which of the following are important determinants of one's productivity? a) The tools, with which one works – tools that are often made available by the employer. b) The ethical behavior of society, at least as it relates to commercial transactions. c) The economy's transportation and communication systems d) The skill level of one's co-workers. e) All the above
prove that dMRTS/dL<0 when FKL > 0 where MRTS =MPL/MPK MPL= marginal product of labor MPK - marginal product of capital
Most of the jobs that were added to the American economy over the past thirty years were in which of the followingsectors?a. service and white-collarb. manufacturingc. miningd. skilled blue-collar
Give the three reasons that explain why the division of labor increases an economys level of production.