An overall decrease in the market price level
The term consumer sovereignty means that what is produced is ultimately determined by what consumers buy.
- The following are some restrictions on consumer sovereignty: Productive powers: In a capitalist society, the consumer's degree of autonomy is constrained by the collectively held productive abilities.
- Technical knowledge level: With the current level of technology, any things created must satisfy the consumer.
- When businesses invite consumers to test products or hear pitches for new ideas, this is an example of consumer sovereignty in action.
- It grants consumers control over the decision-making process before goods are produced.
What does consumer sovereignty mean?
- consumer autonomy. the ability of customers to control production. variable market.
- a transaction in which businesses buy home inputs for production.
Learn more about consumer sovereignty brainly.com/question/2218376
#SPJ4
A business plan composes of many key components and one of this is the products and services. Therefore, when reviewing a business plan, the life cycle of the product is important because it would help establish expectations regarding how often the customer will need the business. The answer to this would be option D. Hope this helps.
Answer:
1935
Explanation:
32,000-15,000 = 17,000
17,000 x 0.075 = $1275 (this is his commission)
1275 + 660 = $1935
$1935 is his gross income for the month
In this market, it can be concluded that at a price level of $100 per unit, there is <em>C. a shortage of 0.4 million units.</em>
- This market shortage occurs because 0.4 million units of the goods were not supplied. There is excess demand and shortage in supply.
- The market demand increased from the equilibrium quantity of 5 million units to 5.2 million while the market supply reduced from the equilibrium quantity of 5 million units to 4.8 million.
- The shortage of 0.4 million units results from the difference between the quantity demanded (5.2 million) and the quantity supplied (4.8 million) as a result of reduced price.
Thus, the market shortage shows the reduced willingness of suppliers to supply goods at the new price of $100 per unit instead of at the acceptable equilibrium price of $120 per unit.
Read more about market surplus and shortage at brainly.com/question/24385458
