Which best describes how producers benefit from specialization?

Which best describes how producers benefit from specialization?

Which best describes how producers benefit from specialization? Producers can increase their profits. Which calculation helps determine which producer has the absolute advantage? Amount produced minus resources used.

Which best describes how consumers may benefit from specialization consumers can only purchase high quality goods consumers have more price options?

Consumers may benefit from specialization because they have more price options. Specialization allows the formation of different price range, which allow consumers to decide how and if they want to spend their money on a good/service considering also the price tag as a indicator of the quality of the good/service.

Which describes a way in which consumers most likely benefit from producers absolute advantage Consumers opportunity costs decrease prices decrease as a result of increased production efficiencies producers always use savings to improve products?

The correct answer is B. When a production process becomes more efficient, there is a cost reduction and manufacturers are able to decrease the market prices of the products and, in consequence, to increase their sales and profits.

Which describes a way in which customers most likely benefit from producers absolute advantage?

Producers can increase their profits. Which describes a way in which consumers most likely benefit from producers’ absolute advantage? Consumers’ opportunity costs decrease. Prices decrease as a result of increased production efficiencies.

Which calculation helps determine which producer?

Amount produced divided by the resources used, is the calculation that helps to determine which producer has the absolute advantage.

Which company has the comparative advantage in producing small?

Which company has the comparative advantage in producing small tubes of toothpaste? Bright White- because it has the bigger difference than Fresh!

Why are fixed costs irrelevant in decision making?

It can be noted that fixed costs are often irrelevant because they cannot be altered in any given situation.