Answer to Question #280223 in Microeconomics for Jessa

Question

A producer, in order to maximize his level of production must consider 2 major factors. Given a 2 resources: labor and capital, what must he take into account to attain a certain level of production. How is producer's equilibrium obtained? Explain.

Answer 1

-Economic expansion and prosperity are impacted by four variables, according to theorists: human assets, tangible capital, biological funds, and innovation.

- Officials in highly affluent states place a strong emphasis on these issues.