A family has bought a new, luxurious house with a swimming pool and have constructed a basketball court in their huge backyard. They have filled their fridge with food like fruits, vegetables, bread and milk. They have also bought enough water bottles to last a whole week. They have arranged their clothes into the cupboards of their new rooms and have bought some pet toys and beds for their cats.
Answer:
The correct answer is letter "C": the supply curve for apples has shifted to the left.
Explanation:
The supply curve plots in a graph the relationship between the price and quantity supplied of a good or service. According to the supply law, that relationship is directly proportional meaning if the price rises the quantity demanded increases -<em>the supply curve moves to the right</em>- but if the prices fall the quantity demanded drops -<em>the supply curve moves to the left</em>.
Thank you for posting you question here. I hope the answer will help. The interest rate on this loan if the payments begin one year after the loan is signed is 11%. Below is the solution:
N=6
PMT=4,727.53
PV=20,000
FV=0
I=?
<span>I=11%</span>
Answer:
Oil wells and seasonal resorts will often shut down temporarily because prices for their output temporarily fall below their average variable costs of production.
Explanation: If the price is below the minimum average variable cost, the firm would lose less money by shutting down. In contrast, in scenario 3 the revenue that the center can earn is high enough that the losses diminish when it remains open, so the center should remain open in the short run.
