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Is use of least-cost input combination a necessary condition for profit maximization is it a sufficient condition explain?
1. Minimization of Cost for a Given Level of Output: Least Cost Conditions
What is a second equi-marginal principle?
The least-cost means of achieving an environmental target will have been achieved when the marginal costs of all possible means of achievement are equal.
The amount of money that a firm pays to buy inputs is called?
Total cost
Perfectly competitive firm in long run equilibrium?
what about them? profits are 0 price=marginal cost all costs are variable optimal allocation of inputs is where marginal rate of technical substitution is equal to the price ratio of the inputs.
When desired results are achieved with minimal expenditure of resources the healthcare services are considered to be?
cost-effective
What is isocost?
isocost is really aline that demonstrates the combination of inputs that can be used however each combination has the same cost
What is iso cost line?
the combination of two different inputs which costs the same amount..
What is the meaning of cost of inputs?
its when you have it with someone hhahhahhaha
Is use of least-cost input combination a necessary condition for profit maximization is it a sufficient condition explain?
1. Minimization of Cost for a Given Level of Output: Least Cost Conditions
What is a second equi-marginal principle?
The least-cost means of achieving an environmental target will have been achieved when the marginal costs of all possible means of achievement are equal.
The amount of money that a firm pays to buy inputs is called?
Total cost
What can a corporation do to lower its cost of capital?
A finance manage of a company usually will choose methods that will raise capital that will cost the company the least and the methods can vary depending on the company. Selling stocks and more product sales are ways to reduce the cost of capital.
What is the difference between implicit and explicit theory?
explicit is the market value of all inputs purchased by a producer while implicit cost is the market value of inputs owned by the producer himself.
Productivity is the ratio of and .?
Total factor productivity is the ratio of total value added and the total cost of inputs.
What is least cost site?
a least cost site is a business location that allows businesses to minimize its cost.
What is economical profit?
Difference between revenue received from sale of an output & the opportunity cost of inputs used. (EVA)
How much is a Chicco Cortina stroller?
The least expensive Chicco Cortina strollers cost approximately $180. Combination Travel System Strollers, which feature interchangeable car seats, cost $350.
