The best answer for this question would be:
<span>b. domestic producers of jet skis are worse off, domestic consumers of jet skis are better off, and the economic well-being of the country rises.
Because originally the jet skis came from the country they originated from so the quality is original and more trusted to the consumers. </span>
Answer:
A. By setting it at a specific value based on another currency
Explanation:
Answer:
The answer is A.
Explanation:
All other things being equal, an increase in the cost of production of a product will decrease the units of the product being reduced and this reduction in supply shifts the supply curve to left while a decrease in the cost of production will increase the units of the product being produced and this shifts the supply curve to the right.
Printed circuit boards is one of the materials used to build computers and since the price has increased, the cost of producing computer also increases and this will make the producers to produce less, shifting the supply curve to the left.
Answer:
PPF : Downward Sloping Straight Line
Explanation:
PPF is the locus of product combinations that an economy can produce, given resources & technology.
It is downward sloping : Because of inverse relationship between two goods- if one has to be increased other has to be decreased , because of same resources & technology.
Marginal Opportunity Cost (Slope of PPC): is ratio of a good sacrifised to gain each additional unit of the other good.
∆ Good sacrifised / ∆ Good gained
If this ratio is same i.e constant amount of a good is sacrifised to gain an additional amount of the other one , the slope of PPC is constant & it is a straight line
Eg : Good1 Good2 MOC [∆Good2/∆Good1]
0 20 _
10 10 -10/10 = -1 (10-20)/(10-0)
20 0 -10/10 = -1 (0-10)(/20-10)
So , same (1) good 2 is sacrifised to attain a good 1 each time.
However Generally: MOC is increasing , because of assumption that resources are unequally efficient in various goods production - shifting good from efficient to inefficient increases sacrifise each time. This makes PPC usually concave.
Answer:
Paul is not maximizing his utility because MUd/Pd is greater than MUb/Pb
Explanation:
Marginal utility is the extra satisfaction derived from spending an additional unit of money on consuming a particular product or service.
In order to determine if he is maximizing his utility, we must calculate his utility per dollar, and this is done by dividing his Marginal Utility by the price.
Marginal Utility per dollar of DVDs is:
MUd/Pd = 23/11 = 2.09
Marginal Utility per dollar of books is:
MUb/Pb = 5/3 = 1.67
Utility is maximized when MUd/Pd is equal to MUb/Pb and Paul has exhausted his budget.
