How can you tell if a given combination of Labor and Capital is the cheapest combination that you can use to produce a given level of output?
1.The Slope of the Isoquant Curve = -1
2. The Marginal Revenue equals Marginal Cost
3. The slope of the Isocost Curve = 0
4. The slope of the Isocost Curve equals the slope of the Isoquant Curve

Answers

Answer 1

If a given combination of Labor and Capital is the cheapest combination that you can use to produce a given level of output is 4. The slope of the isocost Curve equals the slope of the Isoquant Curve.

The slope of the Isoquant Curve = -1: This condition does not provide any information about the cost of production or the cheapest combination of labor and capital to produce a given level of output.

The Marginal Revenue equals Marginal Cost: This condition relates to the profit-maximizing output level, not to the cheapest combination of inputs for a given level of output. The slope of the isocost Curve = 0: This condition means that the cost of production is the same for all combinations of labor and capital. Again, this does not provide any information about the cheapest combination of inputs to produce a given level of output.

The slope of the Isocost Curve equals the slope of the Isoquant Curve: This condition is the correct one. The slope of the isocost curve represents the ratio of the prices of labor and capital, and the slope of the isoquant curve represents the marginal rate of technical substitution (MRTS), which is the rate at which labor and capital can be substituted while keeping output constant. The cheapest combination of labor and capital to produce a given level of output occurs where the isocost curve is tangent to the isoquant curve, and at this point, the slope of the isocost curve equals the slope of the isoquant curve.

In summary, to find the cheapest combination of labor and capital to produce a given level of output, we need to look for the point where the isocost curve is tangent to the isoquant curve, and at this point, the slope of the isocost curve equals the slope of the isoquant curve.

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Answer 2

To determine if a given combination of Labor and Capital is the cheapest combination that you can use to produce a given level of output, you can use the concept of cost minimization in production.

One way to determine the cheapest combination of inputs is to look for the point where the Isoquant curve (which shows all the possible combinations of Labor and Capital that can produce a given level of output) is tangent to the Isocost curve (which shows all the possible combinations of Labor and Capital that can be purchased at a given cost). Therefore, the correct answer is option 4: The slope of the Isocost Curve equals the slope of the Isoquant Curve. At the point where the Isoquant curve is tangent to the Isocost curve, the slopes of the two curves are equal, which means that the marginal rate of technical substitution (MRTS) is equal to the ratio of input prices (wage rate and rental rate of capital). This is the point where the cost of producing the given level of output is minimized, and so it represents the cheapest combination of inputs to produce that output level.

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I hope this helped :)

HELP ME PLEASE!!!
when is it usually best to choose a variable rate home mortgage?
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Answer:

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Answers

Burning a candle is a physical change
Hope that helped

Answer:

physical as it is getting smaller, but I would also say chemical as it's changing into melted wax? more of a physical change for me. hope this gelps

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Answers

Answer:

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Explanation:

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Transportation Cost = $10,000

Direct Labor cost $25,500

Modification of machine cost $12,000

Insurance of Factory Premises $28,000

Raw material Cost $118,250

Machine hours = 7,500 hours

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Answer:

A. $0

Explanation:

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Besides individuals, who else pays taxes in our country?

Answers

Answer:

Aliens?

Explanation:

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Answers

Answer and Explanation:

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Answer:

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Explanation:

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Answers

Answer:

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Answers

Answer: $21177

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Answers

Answer:

a. $9,375,000.

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Answers

Answer:

A. The total amount of money brought in by sales.

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True

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hope this helps :)

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Answer:

Research industry information. ...

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Answers

B. Command

What your describing sounds a lot like communism which would be found under a command economic system

Answer:

D.Market

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PLEASE ANWSER THIS AS A QUESTION YOU HAVE BEEN GIVING SO I CAN COPY AND PASTE PLEASE.

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Answer:

Incentives are the rewards or punishments that shape people's choices. Incentives can be either monetary or non-monetary. When opportunity costs change, incentives change, and people's choices and behavior change. Changes in incentives cause people to change their behavior in predictable ways.

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I think that is correct

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Answer:

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Answers

Answer:

6 salespersons

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A histogram shows the graphical representation of the distribution of numerical data using bars of different lengths.

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Explanation:i took the quiz and i know the answer

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Answer:

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Question 2 (1 point)
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I guess don’t be mad if I’m wrong

Click this link to view O*NET's Tasks section for Actors.
Note that common tasks are listed toward the top, and less common tasks are listed toward the bottom. According to
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creating artwork for use in stage sets
collaborating with other actors
working closely with directors, other actors, and playwrights to find the interpretation suited to the role
studying and rehearsing roles from scripts
learning about characters in scripts and their relationships to each other
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Answers

Answer: B C D E

Explanation:

Did the assignment

To find the interpretation suited to the role, studying and rehearsing roles from scripts, learning about characters in scripts and their relationships to each other and teaching college classes and training other people how to become actors are common tasks performed by Actors. Hence, options B, C, D and E are correct.

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A film director's responsibilities include reading and editing scripts, overseeing the cast and crew, and putting the final product together. The actors and other crew members will work with you to ensure that the movie ultimately reflects the aesthetic vision for the finished result.

Thus, options B, C, D and E are correct.

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Answers

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Answers

Answer:

Explanation:

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Answers

Answer:C

Explanation:

Answer:

The correct answer for this question is B

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