Homework Answers
Answer 8. Option d. all of the above
It is an important duty and responsibility of an entrepreneur to bear business risks for profit making , organize other factors of production and innovate to be in the front of competitors.
Answer 13. Option d. all of the above
All the options given are true in view of an economist about most people.
Answer 15. Option a. contains positive statements only.
Answer 21. Option b. an indeterminate change in price , but no change in quantity exchanged.
This is because , if demand falls and supply increases , the price would fall and quantity exchanged will have no change. While , if demand increased and supply falls , price would rise but there would be no change in quantity exchanged.
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11)A supply curve that is horizontally sloped is an accurate representation of the law of supply...
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Question 6 (10 points) ✓ Saved Price S $8 $7 $6 $5 D 20 45 70 95 120 Quantity Based on the graph above, how many units would the consumers wish to buy if the price is $8? a) O Ob) 20 Oc) 45 Od) 70 e) none of the above Question 7 (10 points) Saved Andrea is a profit-seeking entrepreneur who recently opened a muffin shop in Atlanta. Every morning she produces 100 muffins and sells each muffin at...
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