Answer the following:
41. Elena is the owner of a company that manufactures raincoats. Elena currently produces 25 raincoats a day. Elena cannot produce more raincoats per day unless she buys another sewing machine. Elena is efficient _____________________.
a. Economically
b. Deal
c. of the consumer
d. technologically
42. Explicit cost (bought in the market) and implicit cost (owned by the company and the owner)
Juan and Julia contributed $50,000 of their own money to the company
They bought equipment for $3,000
They hired an employee with a salary of $20,000
Juan quit his job where he earned $30,000
Julia quit part of her job where she earned $15,000
· Purchases of materials for the business were $10,000
· At the end of the year the value of the equipment is $28,000
· A business loan of $100,000 pays 6% annual interest
Based on the above data, what value is recognized as economic depreciation?
_____________.
43. An organization that has a large sales force will most likely organize its product with ________________________.
a. Threat of unemployment if quotas are not met
b. a market system
c. an incentive system
d. A command or command system
44. In perfect competition there are ___________________________.
a. Many companies and each one sells an identical product
b. A small number of companies, each selling an identical product
c. Many companies that sell products for which there are no complementary goods
d. Many companies selling similar products with slightly different
45. Owners of ______________ have limited liability.
a. partnerships, estates, and corporations or companies
b. corporations or limited companies
c. properties and companies
d. partnerships and corporations or joint-stock companies
46. ​​Economies of scale exist when the ___________________ of a unit of a good ____________________.
a. Price; increases when its production rate increases
b. Cost; increases when your input rate increases
c. Price; falls when your input rate decreases
d. Cost; decreases when its production rate increases