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Svetradugi [14.3K]
2 years ago
14

Over the past year, productivity grew 2%, capital grew 1%, and labor grew 1%. If the elasticities of output with respect to capi

tal and labor are 0.2 and 0.8, respectively, how much did output grow
Business
1 answer:
Rainbow [258]2 years ago
7 0

Answer:

The output growth rate is 3%.

Explanation:

Use the growth accounting equation as follow

ΔA% = ΔY% - αΔK% - βΔL%

Where

∆A = change in productivity = 2%

∆K = growth in capital =

∆L = growth in labor =

α = elasticity of capital = 0.2

β = elasticity of labor = 0.8

∆Y = change in output = ?

Placing values in the formula

2% = ΔY% - ( 0.2 x 1% ) – ( 0.8 x 1% )

2% = ΔY% - 1%

ΔY% = 2% + 1%

ΔY% = 3%

Hence, the output growth rate is 3%.

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Smart Manufacturing budgeted costs for 50,000 linear feet of block are: Fixed manufacturing costs $24,000 per month Variable man
Gekata [30.6K]

Answer:

$664,000

Explanation:

The computation of the budgeted total manufacturing cost is shown below:

Budgeted total manufacturing costs is

= Fixed cost + Variable cost

= $24,000 + ($16 × 40,000 linear feet of block)

= $24,000 + $640,000

= $664,000

We simply added the fixed cost and the variable cost so that the total budgeted manufacturing cost could come

3 0
2 years ago
___ is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, pr
pentagon [3]

Answer:

Product market expansion grid

Explanation:

Product market expansion grid -  

It is used to plan for the company , when the company is indeed of expanding , is referred to as Product market expansion grid .  

The strategy or information required for the company to increase sale of the goods and services or introducing a new product in the upcoming market , uses this plan.  

Hence , from the given information of the question,

The correct term is  Product market expansion grid .

8 0
2 years ago
Scenario: An organization has recently suffered a series of security breaches that have significantly damaged its reputation. Se
Rina8888 [55]

Answer:

Vulnerability analysis

Explanation:

Since the organization has hired a security consultant to help them reduce their risk from future attacks, What the consultant would use to identify potential attackers is vulnerability analysis.

Vulnerability Analysis is a vulnerability assessment which entails an in-depth analysis of the building functions, systems, and site characteristics to identify: 1. Weaknesses in the system and

2. Determine mitigation or corrective actions that can be designed and implemented to eradicate vulnerability or reduce the vulnerabilities.

3 0
2 years ago
Marco traveled across three states to shop at Tiffany's to buy his girlfriend, Jana, a present. This is the only Tiffany's store
Llana [10]

Answer:

Exclusive.

Explanation:

In this scenario, Marco traveled across three states to shop at Tiffany's to buy his girlfriend, Jana, a present. This is the only Tiffany's store in the entire region. The degree of channel coverage for Tiffany's is exclusive.

In marketing, there are basically three (3) types of market channel coverage used by businesses;

1. Intensive market coverage: this involves a company extending its products to as many sales outlets as possible. Therefore, it's a saturation coverage of the market. Some examples are softdrinks, beer, or cigarettes company.

2. Selective market coverage: it involves a company using a limited number of sales outlets to sell its products in a region. Thus, it lie between an intensive distribution and exclusive market coverage.

3. Exclusive market coverage: this involves a company extending its products to only one sales outlets. Thus, it is the exact opposite of an intensive market coverage and a complex form of selective market coverage. It gives companies prestige and improves brand quality perceptions.

<em>Hence, the degree of channel coverage for Tiffany store is exclusive market coverage. </em>

6 0
2 years ago
Production workers for Chadwick Manufacturing Company provided 3,200 hours of labor in January and 2,800 hours in February. The
Sergeu [11.5K]

Answer:

The insurance cost should be allocated to the products made in January and to those made in February is $8,000 and $7,000 respectively.

Explanation:

For computing the allocated insurance cost, first, we have to compute the per labor rate which is shown below:

Per labor rate = (Annual premium) ÷ (Labor hours)

                       = ($120,000) ÷ (48,000 hours)

                       = $2.5

Now the insurance cost would be

For January = Labor rate per hour × number of labor hours\

                    = 3,200 hours × $2.5

                    = $8,000

For February = Labor rate per hour × number of labor hours

                      = 2,800 hours × $2.5

                      = $7,000

3 0
2 years ago
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