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2 years ago

An increase in the supply of grain will reduce the total revenue grain producers receive if.

1 answer:

7 0

If the<u> demand curve is inelastic</u>, a rise in the supply of grain will result in a decrease in the overall income received by grain producers.

The ability of firms to enter and exit a market over time means that, in the long run, the supply curve is more elastic.

Two basic economic concepts are combined in the law of supply and demand to explain how shifts in the price of a resource, good, or service affect its supply and demand. As the price rises, supply increases while demand decreases. On the other hand, as the price falls, demand increases and supply becomes more limited.

The degree to which changes in price translate into changes in demand and supply is known as the product's price elasticity.

Basic consumer demand is comparatively inelastic, or less responsive to price changes.

Discover the long-term impact of population growth on supply and demand: brainly.com/question/13353440

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Equity is A. an exactly equal distribution of income. B. when poorer people's income is growing more rapidly than more wealthy

nexus9112 [7]

Answer: The fair distribution of economic benefits.

Explanation:

Equity simply means giving everyone in a society equal opportunities regardless of their racial, religious, tribal or social background. In an economy if everyone present in that economy can enjoy the economic benefits, then equity has been achieved in that economy.

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3 years ago

The theory of consumer behavior assumes that - consumers behave rationally, attempting to maximize their satisfaction - consumer

earnstyle [38]

Answer:

Consumers behave rationally, attempting to maximize their satisfaction.

Explanation:

The principle assumption upon which the theory of consumer behavior and demand is built is:

A consumer attempt to allocate their limited money income among available goods and services so as to maximize their utility (satisfaction).

Utility is described as an amount of satisfaction derived from the consumption of a commodity. Measurement units is utils.

Assume that consumers have complete information about availability, prices and utility levels of all goods and services. All bundles of goods can be ranked based on their ability to provide utility.

The theory is useful for understanding the demand side of the market.

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3 years ago

What is the present value of the following series of payments:

Alex787 [66]

Answer:

he made about 300

Explanation:

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3 years ago

The Academic Computing Center has five trainers available in its computer labs to provide training sessions to students. Assume

kogti [31]

Answer:

87.72%

Explanation:

Calculation to determine the ratio of the utilization of the system to its efficiency

Using this formula

Ratio=Orientation session/Effective capacity of the Academic*100

Let plug in the formula

Ratio = (1,500 / 1,710) * 100

Ratio= 0.8772 * 100

Ratio= 87.72%

Therefore the ratio of the utilization of the system to its efficiency will be 87.72%

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3 years ago

Define technological literacy.

EastWind [94]

Answer:

Technology Literacy is the ability to safely, responsibly, creatively, and effectively use appropriate technology to: communicate; access, collect, manage, integrate, and evaluate information;

Explanation:

Use technology to meet personal needs, interests, and learning styles.

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3 years ago