Answer:
Yes
Explanation:
Yes, this concept is an example of supply and demand. When there is a limited supply of a product like the soft drinks in the vending machines then the price would match the number of people that want to buy the product. If in a very hot day more people want to buy a soft drink to cool down then the supply will begin to decrease as more people buy, this will create an increase in price as people would be ok with paying more money in order to be one of the lucky few to get one of the few soft drinks that are left.
To represent his earnings the inequality to be used is: earnings (is less than) 100 (but greater than) 50.
Answer:
C. biased, understating the effectiveness of the diet.
Explanation:
As the company promises the population of America which is too huge, just on the study based on 20 employees of the company itself.
This clearly means that the company is trying to sell the product with false reports as the sample size of study is to small to represent entire American Population.
Further that too the employees could be influenced to get the false results.
As since the employees could be influenced and that the results can be altered accordingly, the report is biased, and is misleading.
I think the correct value to fill in the blank would be 6 inches. Food should be stored at least 6 inches off the floor and 18 inches from the walls in order to decrease the possible condensation in the food that is brought by the differences in the temperature between the surface and the container of the food.
Answer:
Increase quantity to where AC = MC = D=AR=MR
Explanation:
A perfectly competitive market is where there are many firms in the industry producing homogeneous products. There is ease of entry and exit into and out of the market. They are price takers and earn normal profits in the long-run. In order to maximize profits, a firm in a perfectly competitive industry should produce an the quantity where its average cost is equal to marginal cost when AR = MR = D. In other words, when the AC and MC curves intersect with AR = MR = D curve.
<em><u>Please refer diagram</u></em>
The firm is currently producing at a point where AC > MC at quantity 1000. In order to reach AC = MC, the firm has to increase its quantity to Qe. As it increases quantity, although marginal cost increases, average cost falls because now fixed costs are spread over a larger quantity of output.
At Qe, the three curves intersect and is the point where this firm can maximize its revenue (Price = Pe). At a price higher than this, it would lose customers since there are many others producing the same product and customers can easily shift to another.
