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A: Iso means equal. Isoprofit and isocost curve are microeconomic concepts.
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A: Y=-0.2X3+4X2+X MPP = dYdX=d(-0.2X3+4X2+X)dX=-0.6X2+8X+1 For MPP to be maximum, dY/dX = 0…
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A: We have to found following question.
Q: The optimal level of production is the level that either maximizes profits or minimizes losses. How…
A: Answer: An optimal level of production refers to that level of output where the profit is maximum or…
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A: You need to have work done on your home. In addition to the expense, it will be annoying to have…
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Q: Using an example , explain the production proces
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A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…
Q: ny units of X can be produced whe s are utilized in its production
A: Since you have asked multiple questions we will answer the first one for you. When only two goods…
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A: The production function shows the technical relationship between factor of production and final…
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A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: At Yennefer's current production level, a extra bunch of herbs adds 19 extra spells. Each bunch of…
A: Answer: Given, Output produced by a bunch of herbs (change in output) = 19 Cost of an extra bunch of…
Q: Discuss in detail the production possibility curve by linking that to the concept of…
A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…
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A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…
Q: MNLOGS harvested logs (with no inputs from othher companies) from their property in northern…
A: Value added by a firm is the difference between revenues earned by the firm and cost it incurs.
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A: "Since you have asked multiple question,we will solve the first question for you.If you want any…
Q: 34. An iso-quant gives: S Combinations of output that can be produced using different levels of…
A: An Iso-quant is a position of points indicating all the efficient ways of mixing the different…
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- Factors of production are A) the mathematical calculations firms make in determining their optimal production levels. B) social and political conditions that affect production. C) the physical relationships between economic inputs and outputs. D) inputs into the production process.Discuss in detail the production possibility curve by linking that to the concept of pareto,productive and allocative efficiency /inefficiency (with the use of well labelled graph)Inefficient production is represented by which point(s)?
- Question 18 Refer to Daisy's PPF Given Daisy's PPF, the following production combo, 12 pies and 12 tarts is Group of answer choices an inefficient use of resources. not possible with the given resources. an efficient use of resources.The technically efficient combination of two products a busniness can produce in the current period given its existing resources and technology is: (a) The production possibilities frontier (b) The marginal rate of production transformation (c) The least cost combination of two products (d) The marginal physical productThe optimal level of production for any company is the level of production that either maximizes profits or minimizes losses. How does one determine the optimal level of production for any business? Explain.
- 6 workers and 4 machines are required to produce 2 computers. 2 workers and 2 machines are required to produce 2 units of tomato. A. Find the labor and capital requirement per one computer and 1 unit of tomato? B. Which industry is a labor intensive? Capital intensive?Question 17 Refer to Daisy's PPF Given Daisy's PPF, the following production combo, 6 pies and 10 tarts is Group of answer choices an efficient use of resources. an inefficient use of resources. not possible with the given resources.When a firm uses resources to produce a particular output, the implicit cost of alternative outputs that could have been produced represent the: a) total accounting cost of using the resources. b) opportunity cost of using the resources. c) explicit cost of using the resources. d) production cost of using the resources
- The optimal level of production for any company is the level of production that either maximizes profits or minimizes losses. How does one determine the optimal level of production for any business?ِA- We have studied the production technology. Explain the concept with an example. B- We have studied labor-intensive technology and capital-intensive technology Explain the difference between the two production processes with an example of each?The optimal level of production is the level that either maximizes profits or minimizes losses. How does one determine the optimal level of production for any business? Explain.