Homework Answers
"D"
All of the answers are correct in the market, if there is a loss in the market then some of the firms in the market will leave the industry and shift to the industry where the opportunity cost is higher. Answer is "D" .
Add Answer to:
When economic losses exist in the potato chip market, this is an indication that: The goods...
Test 1-4 Part A 1. Scarcity as defined in economics: K. Occurs when there are not...
Test 1-4 Part A 1. Scarcity as defined in economics: K. Occurs when there are not enough resources to produce all that a society desires L. Is a problem only faced by the Less Developed Countries (LDCs). M. Is not an issue for the affluent industrially-advanced nations. N. Refers to situations where the producer of a product is making its profit by creating fear. O. Refers to shortages of goods and services when the price level is too low 2....
1.In a capitalist economy, the market value of something is determined by......and....... Prices are the quantification...
1.In a capitalist economy, the market value of something is determined by......and....... Prices are the quantification of those values in terms of the money that is used. When the supply of something is high, relative to demand, the price will be........ When the demand for something is .........relative to the supply, the price will be high. When the....... for something is low relative to the......., the price will be high. Prices play an important role in the market economy because...
Can i have help please 1. What's allocative efficiency? A. An increase in overall market efficiency...
Can i have help please 1. What's allocative efficiency? A. An increase in overall market efficiency due to a change in technology B. The allocation of resources in the most fair and equal manner possible C. The production of a particular good in the least costly way D. The particular mix of goods and services most highly valued by society 2.Microeconomics is concerned with A. positive economics, but not normative economics. B. the establishing of an overall view of the...
Economics is a social science concerned with: The best use of scarce resources to achieve the...
Economics is a social science concerned with: The best use of scarce resources to achieve the maximum satisfaction of economic wants. Increasing the level of productive resources so there is a minimum level of income. Increasing the level of productive resources so there is maximum output in society. The best use of scarce resources paid for at the minimum level of cost to consumers and businesses. Answer: A person should consume more of something when its marginal: benefit exceeds...
Economic efficiency is the primary guide in answering which of the fundamental questions in a market...
Economic efficiency is the primary guide in answering which of the fundamental questions in a market economy? Multiple Choice O How can the system accommodate change? 0 What will be produced? Who is to receive the output? 0 0 How is the output to be produced? < Prev 15 of 50 !!! Next > Firms are motivated to minimize production costs because Multiple Choice the government provides tax credits and subsidies to low-cost producers. o least-cost production techniques use the...
Per class discussion, if injections exceed leakages; GDP becomes zero. GDP decreases. GDP increases. GDP remains...
Per class discussion, if injections exceed leakages; GDP becomes zero. GDP decreases. GDP increases. GDP remains unchanged. The double-coincidence of wants is a problem with: the financial markets. Christmas. barter. money exchanges. Marginal cost is the opportunity cost of a good or service that exceeds its benefit. that arises from producing one more unit of a good or service. that your activity imposes on someone else. of a good or service divided by the number of units produced. The production...
Per class discussion, if injections exceed leakages; GDP becomes zero. GDP decreases. GDP increases. GDP remains...
Per class discussion, if injections exceed leakages; GDP becomes zero. GDP decreases. GDP increases. GDP remains unchanged. The double-coincidence of wants is a problem with: the financial markets. Christmas. barter. money exchanges. Marginal cost is the opportunity cost of a good or service that exceeds its benefit. that arises from producing one more unit of a good or service. that your activity imposes on someone else. of a good or service divided by the number of units produced. The production...
1-1. Principle 1: People Face Trade-offs The study of Economics starts by acknowledging 1-2. Principle 2:...
1-1. Principle 1: People Face Trade-offs The study of Economics starts by acknowledging 1-2. Principle 2: The Cost of Something Is What You Give Up to Get It What is opportunity cost? It is the highest-valued, next best alternative that must be to obtain something or to satisfy a want. 1-3. Principle 3: Rational People Think at the Margin Rational people often make decisions by comparing marginal benefits andL A rational decision maker takes an action if and only if...
15. Causes of market failure include a. externalities and market power. (b) market power and incorrect...
15. Causes of market failure include a. externalities and market power. (b) market power and incorrect forecasts of consumer demand. c. externalities and foreign competition. d. incorrect forecasts of consumer demand and foreign competition. 16. Which of these consumption activities will most likely impose an external cost? a. An executive plays a vigorous game of golf. b. A student in a dorm plays her CDs at 120 decibels late at night. A young mother exercises to anaerobics video A construction...
QUESTION 1 Economists use the word marginal to mean 1. A decision that is only secondary...
QUESTION 1 Economists use the word marginal to mean 1. A decision that is only secondary in importance. 2. The extra benefit or cost of a decision. 3. When firms concentrate on their profit margin. 4. When an economy is producing efficiently. 5 points QUESTION 2 Economists use the word rationality to mean.... 1. When people correctly analyze a situation and come to the best decision possible. 2. Only a hypothetical scenario, people are never really rational. 3. When...
Test 1-4 Part A 1. Scarcity as defined in economics: K. Occurs when there are not enough resources to produce all that a society desires L. Is a problem only faced by the Less Developed Countries (LDCs). M. Is not an issue for the affluent industrially-advanced nations. N. Refers to situations where the producer of a product is making its profit by creating fear. O. Refers to shortages of goods and services when the price level is too low 2....
Economic efficiency is the primary guide in answering which of the fundamental questions in a market economy? Multiple Choice O How can the system accommodate change? 0 What will be produced? Who is to receive the output? 0 0 How is the output to be produced? < Prev 15 of 50 !!! Next > Firms are motivated to minimize production costs because Multiple Choice the government provides tax credits and subsidies to low-cost producers. o least-cost production techniques use the...
1-1. Principle 1: People Face Trade-offs The study of Economics starts by acknowledging 1-2. Principle 2: The Cost of Something Is What You Give Up to Get It What is opportunity cost? It is the highest-valued, next best alternative that must be to obtain something or to satisfy a want. 1-3. Principle 3: Rational People Think at the Margin Rational people often make decisions by comparing marginal benefits andL A rational decision maker takes an action if and only if...
15. Causes of market failure include a. externalities and market power. (b) market power and incorrect forecasts of consumer demand. c. externalities and foreign competition. d. incorrect forecasts of consumer demand and foreign competition. 16. Which of these consumption activities will most likely impose an external cost? a. An executive plays a vigorous game of golf. b. A student in a dorm plays her CDs at 120 decibels late at night. A young mother exercises to anaerobics video A construction...
Most questions answered within 3 hours.
-
This assignment will explore the impact of corporate decisions
on a local versus a global perspective....
asked 54 minutes ago -
Given the function below, F(w,x,y,z)= x’z+w’z’+w’y
a) draw a logic diagram for an implementation which uses...
asked 30 minutes ago -
The sandwich maker of the EE-Cole-Eye Sandwich Truck was just
fired (for a reason described below)...
asked 8 minutes ago -
Most political philosophers believe we have a duty to obey laws,
even if the laws in...
asked 1 hour ago -
Which of the following are common negotiation outcome
mistakes?
a. Leave money on the table b....
asked 1 hour ago -
Propose an efficient synthesis of 2-Bromo-5-nitrotoluene from
benzene. Hint: 3 steps. Consider directing effects of substituents....
asked 1 hour ago -
Convert the following quantities:
a) 0.819 atm to torr b) 512 mmHg to bar c) 11.2...
asked 2 hours ago -
C ++ Implement cat command
The purpose of this assignment is to provide practice using the...
asked 2 hours ago -
we
convert sugars into another form of stored potential energy. This
is called?
asked 2 hours ago -
The manufacturers of Oriental Spice Sauce are concerned that the
sodium levels in their product vary...
asked 3 hours ago -
PLEASE DON'T ANSWER IF YOU CAN'T ANSWER ALL OF THE QUESTIONS. I
DESPERATELY NEED HELP
Consider...
asked 3 hours ago -
DO NOT ANSWER IF YOU ARE UNSKILLED IN THIS AREA! TYPE OR WRITE
EACH ANSWER CLEARLY!!...
asked 3 hours ago