If the two nations trade, the trade price of wheat in terms of steel will be "greater than the domestic opportunity cost of wheat in alpha and less than the domestic opportunity cost of wheat in beta".
Opportunity cost speaks to the advantages an individual, financial specialist or business misses out while picking one option over another. While financial reports don't demonstrate opportunity cost, entrepreneurs can utilize it to settle on wise choices when they have different choices available to them.
Answer:
d) The change to the equilibrium price of French chocolate souffle is ambiguous and the equilibrium quantity of French chocolate souffle falls
Explanation:
Inferior goods are those goods whose demand falls with the rise in the income of the consumer.
As per the given case, French chocolate souffle is an inferior good. When income of the consumer rises, his demand for French chocolate souffle will fall.
Similarly, when producers of such an inferior good decrease, the supply of French chocolate souffle shall fall.
With respect to the original equilibrium level, the demand curve shall experience a leftward shift i.e decrease whereas the supply curve too experiences a leftward shift i.e supply falls.
At the new equilibrium level, definitely the equilibrium quantity shall fall, but the change in equilibrium price cannot be ascertained as per the given information.
Answer:
Here's ur answer
Explanation:
- letter of enquiry
- Quotation
- receipt
- order
- delivery note
- credit note
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On a worksheet, select the cell or range of cells that you want to add a border to. Then, on the Home tab, go to the Font group and click the arrow next to Borders. There you shall be able to click a border style.
<u>Answer:</u> Option B The purchasing power of your salary increased between 2009 and 2018.
<u>Explanation:</u>
CPI is the acronym for Consumer Price Index. CPI measures the average change in price of the consumer products and services. This can also be called as inflation. The price level that prevails in the economy can be measured and also the purchasing power of the individuals can also be determined.
As in this case the CPI has increased denoting the inflation in the economy. The purchasing power has also increased due to the rise in the salary from 2009 to 2018.