K L A 1000 2000 B 2000 10000 K L 1 1 y 2 3 Based on the table above answer the following questions: Capital intensive technology Choose.. Capital abundant country Choose... country B will good x Choose... Labour abundant country Choose... country A will good x Choose... Labour intensive technology Choose... al economics practicing questions Jump to...

Q: do fast i will 5 upvotes.

A: Step 1: Setting Up the Cost MatrixWe begin by defining a cost matrix based on the hours each worker…

Q: of scale. As Big Jake Lumber expands, the cost of shipping the lumber drops sharply. This is an…

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Q: help please answer in text form with proper workings and explanation for each and every part and…

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A: Marginal product is the increase in units if goods due to the additional unit of worker.    Marginal…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: a) Completing the Table:To complete the table, we need to calculate the Marginal Cost (MC) and…

Q: Give an example of "diseconomies of scale" and describe how this diseconomy could arise.

A: Diseconomies of scale occurs where an increase in the production level causes rise in the cost of…

Q: Indicate whether each of the following is anexplicit cost or an implicit cost.a. A manager’s…

A: Explicit Costs are costs that are directly incurred by the business. They can be seen in the…

Q: Define Explicit and Implicit Costs.

A: Opportunity cost: - opportunity cost is a forgone benefit which we could have earned by applying all…

Q: Dollars C BA EF Multiple Choice MC must be increasing. AVC Refer to the figure above. At output…

A: Average Fixed Cost (AFC) is a metric used in economics and business to measure the fixed cost per…

Q: What is the difference between explicit and implicit costs in economics? Don't use chatgpt please…

A: In the intricate dance of economic decision-making, two key actors strut across the stage: explicit…

Q: Which of the following is also known as the firm's planning curve? The total cost curve O The…

A: Over the long run, all inputs are variable and firm can change its plant size according to the…

Q: 3 When the inputs price ratio (sliope of cost line) is greater than the MRTS, (MPK/PK > MPL/PL) the…

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

Q: Question: Orla manages a loom that produces flags (F) using thread (T) and dye (D) as inputs. Her…

A: Given  The production function of flags Q(T,D)=T1/2D1/21/2                 .... (1)

Q: 2. Consider a perfectly competitive industry where each firm has the cost structure described above.…

A: In a competitive market, the equilibrium price and quantity are determined by the intersection of…

Q: In some ordering problems, like the one for Sam’s Bookstore, whenever demand exceeds existing…

A: This question asked us to modify Sam's inventory model to incorporate expedited orders at the…

Q: Why is economic cost known as opportunity cost? What are included in economic costs?

A: Opportunity cost refers to the cost of a foregone opportunity. The cost involved when an opportunity…

Q: Output Total Fixed Cost Total Variable Total Cost Average Fixed Average Variable Average Total…

A: Total cost is the sum of total fixed cost and total variable cost. Average cost is the per unit cost…

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Q: Remaining "How Did I Do?" Uses: 2/5 Two groups of.students decide to start their own tutoring…

A: Total cost is the sum of fixed and variable costs.

Q: Refer to the information provided in Table below to answer the question that follow. Number of…

A: The sum of all the variable costs incurred by a business in the production of goods or services is…