Answer:
The incentives of a supplier are the opposite of the incentives of a demander because it is a relationship whose nature makes supply and demand inversely proportional to each other: the higher the supply, the lower the demand for each product and the lower its price; While the lower the supply, the greater the demand for each product and the higher its price. Thus, in many cases, suppliers seek to restrict supply to maximize profits, while demanders seek to lower prices through a greater quantity of goods offered.
Answer:
B) raises the price buyers pay and lowers the price sellers receive.
Explanation:
A tax can be defined as the compulsory levy by the government on the income of an individual or company and the goods and services. It is used to generate income in a country in order to finance the expenditures of the government.
Types of tax
• Income Tax: This is the compulsory levy by the government on the income of an individual.
•Corporate Tax: This is the levy paid by corporate organzation on their Profits.
•Sales Tax: It is levied on goods and services. This type of tax increases the price of a product thereby making buyers to pay more. The sellers receives lower prices because they will deduct tax from what the sellers have paid and pay to the government.
•Property Tax: It is levied on the value of land or property.
•Tariff: Tax paid on imported goods. It is used to discourage importation. An increase in import tariff leads to an increase in price of the Commodity thereby leading to decrease in quantity purchased.
There are three basic tax laws
1) Progressive tax
2) Regressive tax
3) Proportional tax.
As the deutsche telekom has invested heavily in huawei’s services because it came at a competitive price and based on what you know about how companies expand internationally, this would be an example of an <u>outsourcing</u>.
<h3>What is an
outsourcing?</h3>
This refers to the business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house by the company's own employees and staff. Most time, it is a business practice that are usually is undertaken by companies as a cost-cutting measure, thus, it can affect a wide range of jobs from customer support to manufacturing to the back office.
Therefore, this scenario given would be an example of an <u>outsourcing</u>.
Read more about outsourcing
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Last year, being a non-leap year, there were 365 days
So, number of hours in last year = 365 x 24 = 8760
Total number of man-hours spent in the National park = 3100000 x 22, i.e. number of visitors x hours spent by each visitor
We can find out average number of visitors in the park at any time during that hour as = (3100000 x 22)/8760 = 7785.388 visitors
Answer: B. In the short run, the typical firm increases its output and makes an above normal profit.
Explanation:
I have attached a graph to explain.
Originally the Perfectly Competitive Market is in a long run Equilibrium.
This means that at 5000 units the $20 selling price was as a result of Marginal Revenue being equal to Marginal Cost.
Now a sudden change in Demand has taken the price up which then forces the Marginal Revenue Curve upwards.
This will culminate with the Marginal Revenue Curve now intersecting the Marginal Cost curve at a higher point being point F so that profit can be maximised.
This higher level will thus lead to a higher output than 5000 units at point Q as the firm will increase output.
Notice that at that point the Marginal Revenue is higher than Average Total Cost meaning that an Above normal profit is being made.
Do react or comment if you need any clarification.
