Suppose That Silvia's Dance Studio Uses Both Labor and Capital

question 24

Multiple Choice

Suppose that Silvia's Dance Studio uses both labor and capital to teach dance lessons.Given her current mix of labor and capital,the cost efficiency of labor is 1 dance lesson per dollar,and the cost efficiency of capital is 5 dance lessons per dollar.Silvia should

• A)Hire less labor and use more capital.
• B)Use only capital to produce the lessons.
• C)Use less capital and hire more labor.
• D)Use only labor to produce the lessons.

Differentiate between active and passive voice and their impacts on message delivery.

Appreciate the role of topic sentences in establishing coherence in paragraphs and documents.

Understand the importance of conciseness and clarity in business communication.

Learn the effective use of visual elements and lists to structure information for ease of reader comprehension.

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Definitions:

Government Intervention

Actions taken by a government to affect the economy, which can include regulations, subsidies, taxes, and direct provision of goods or services.

Rival in Consumption

A good is termed a rival in consumption if its use or consumption by one individual prevents its use or consumption by another individual.

Excludable

A characteristic of a good or service that allows owners to prevent its use by people who have not paid for it.

Private Markets

Markets in which transactions are conducted directly between parties, often involving assets not publicly traded, such as private equity and real estate.