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What determines the optimal level of production in command economies?
EncofBizandFinance
The optimal level of production in a command economy is determined by the central planners and is consistent with government objectives rather than being a function of consumer desires.
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∙ 13y ago
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Is the current US economy on the production possibility curve?
An economy can be producing on the PPF curve only in theory. In reality, economies constantly struggle to reach an optimal production capacity.
Define optimal efficiency How is optimal efficiency achieved in production?
Optimal efficiency is a term used to describe the condition when a production is producing the best it can with what it has at the lowest cost possible. It is achieved in production by taking all of the production's waste product and dividing the waste product by the overhead costs. A sum of zero is the optimal efficiency.
Why elasticity concept is required by managers?
Elasticity helps to find optimal production quantities and thus optimal profits.
Is the optimum level of production the same as the profit maximization level of output?
"Optimal" can be defined in various ways. When looking from a profit maximization viewpoint, the level of production with the highest (return/cost) ratio will be the optimal. However, when looking purely from a productive viewpoint, the optimal level would be the one with the highest (output quantity/input quantity) ratio
How does an externality relate to socially optimal quantity?
In the presence of an externality (positive or negative), individual economic actors produce a socially inefficient amount of a good (since they do not include social gains or costs in their calculations). Thus, in general, when there is a Negative externality, firms are overproducing a good with a social cost and thus the optimal equilibrium occurs at decreased production. Positive externality, firms are underproducing a good with a social benefit and thus the optimal equilibrium occurs at increased production.
Is the current US economy on the production possibility curve?
An economy can be producing on the PPF curve only in theory. In reality, economies constantly struggle to reach an optimal production capacity.
What are the theories of production?
The main theories of production include the production function theory, which examines the relationship between inputs and outputs in the production process; the theory of economies of scale, which suggests that as production levels increase, costs decrease per unit; and the theory of factor proportions, which analyzes the optimal combination of inputs to maximize output.
Define optimal efficiency How is optimal efficiency achieved in production?
Optimal efficiency is a term used to describe the condition when a production is producing the best it can with what it has at the lowest cost possible. It is achieved in production by taking all of the production's waste product and dividing the waste product by the overhead costs. A sum of zero is the optimal efficiency.
What device determines the destination and optimal path for messages?
router
Why elasticity concept is required by managers?
Elasticity helps to find optimal production quantities and thus optimal profits.
Is the optimum level of production the same as the profit maximization level of output?
"Optimal" can be defined in various ways. When looking from a profit maximization viewpoint, the level of production with the highest (return/cost) ratio will be the optimal. However, when looking purely from a productive viewpoint, the optimal level would be the one with the highest (output quantity/input quantity) ratio
What has the author Oded Z Maimon written?
Oded Z. Maimon has written: 'Optimal flow control in manufacturing systems' -- subject(s): Production planning, Production scheduling
Based on cost of production what is the optimal yield of an atom bomb?
It is unclear what you are asking here. Optimal for what effect? Usually one has to consider both yield and blast height/depth for a given desired effect before one can decide what is optimal. A yield optimal at one height/depth is not optimal at another and vice versa. Also it is important to realize that thermonuclear yields can be made as high as desired just by adding additional thermonuclear stages.
How does an externality relate to socially optimal quantity?
In the presence of an externality (positive or negative), individual economic actors produce a socially inefficient amount of a good (since they do not include social gains or costs in their calculations). Thus, in general, when there is a Negative externality, firms are overproducing a good with a social cost and thus the optimal equilibrium occurs at decreased production. Positive externality, firms are underproducing a good with a social benefit and thus the optimal equilibrium occurs at increased production.
What has the author Louis Baeriswyl written?
Louis Baeriswyl has written: 'Optimal mix of ammunition inventory and production capacity' -- subject(s): Economics
How cost of production can be reduce through effective and optimal design?
Weight loss. Recycled materials. Energy consumption. Manufacturing automation. Updated.
Why is the testis located in the scrotum instead of in the abdominopelvic cavity?
Temperature regulation. Normal internal body temperature is slightly too warm for optimal sperm production.
