Answer:
True
Explanation:
That is true for any product but luxury products.
Answer:
Limited partner
Explanation:
A limited partner has limited liabilities and doesn't take an active role in managing the operation of the business. A limited partner is also known as a silent partner.
I hope my answer helps you
Answer: ANSWER: Pure
Explanation: Only pure risks are insurable because they involve only the chance of loss. They are pure in the sense that they do not mix both profits and losses. ... Both speculative risk and pure risk involve the possibility of loss. However, speculative risk also involves the possibility of gain as well - even if there is no loss.
This is true. They want their money back but they also want to make money so they do this. Hope this helps! ;)
Answer:
The transaction will generate a buyer surplus of $2,000 and a sellers surplus of $3,000
Explanation:
A consumer values a car at $20,000
It costs a producer $15,000 to generate that same car
The transaction is complete at $18,000
The first step is to calculate the buyer's surplus
= $20,000-$18,000
= $3,000
The seller's surplus can be calculated as follows
= $18,000-$15,000
= $3,000
Hence the transaction will generate a buyer surplus of $2,000 and a sellers surplus of $3,000
