The answer for the first question is 40 cheeseburgers because there is a linear relation between price and quantity sold. For every .50 lower there are 10
more cheeseburgers sold.
For the second question it is 0 cheeseburgers if the price is $2.50.
If the price of beef goes up the price of the cheeseburgers should go up.
Insurance premiums, entrance fees, train fares, and organization dues are all examples of price.
<h3>What is price?</h3>
Price is the amount of payment or compensation given by one party to another for a good or service. In some situations, the price of the product has a different name. If an item is a "commodity" in a commercial exchange, the consideration paid for that item is likely to be called its "price."
There are many other types of price. Some of them, like the threshold price, are conceptual. Others relate to the timing of a potential deal or the relative strength of the buyer and seller. However, they all ultimately have something to do with the spot price.
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Answer:
The companies create a global web of value creation activities.
Explanation:
When the companies with the motive to maximize revenue or minimize cost disperse their operation across the globe they create a chain or web of value creation activities globally.
Multinational companies take advantage of location economies by dispersing their activities. When a firm operates in foreign countries they hire inputs for their work thus paying for them, in this way they create a web of activities boosting the economy of that place.
Answer:
The correct answer is ASEAN+3.
Explanation:
ASEAN + 3 is the association of Southeast Asian nations, which was created in 1967 by Thailand, Indonesia, the Philippines, Singapore and Malaysia. Currently it is made up of 10 countries in Southeast Asia, and its general objective is to increase the economy of these countries and promote stability in the region. The +3 is to recognize the accession of three countries that do not belong to this region, which are: Japan, China and South Korea.
Both tariffs and quotas are instruments used to impede or reduce trade. Both quotas and tariffs place restrictions on the quantity of imported commodities.
<h3>What are exports and imports?</h3>
Exports: The products and services that a nation produces at home and sells to clients or enterprises abroad are known as exports. The nation selling its goods and services benefits from an infusion of money as a result. Businesses may opt to export their products and services to another country because it allows them to:
Take part in international trade
reach out to new markets
raising sales
Imports : are the products and services that a company or customer buys from another nation. The nation that is making the purchases sees money leave the country as a result. Although most nations want to import less products and services than they export in order to boost domestic revenue, a high amount of imports can be a sign of an expanding economy. This is especially true if the majority of the imports are productive assets, such machinery and equipment, which the receiving nation may utilize to raise the productivity of their own economy.
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