Answer;
Firms --> Market For Goods and Services --> Households
Explanation;
In product markets, business firms supply and sell goods and services while households demand and buy them. Households supply and sell factors of production, such as labor, while business firms demand and buy them.
In a market economy households provide resources and labor and purchase goods and services while firms provide goods and services and purchase resources and labor. The goal of firms in a market economy is to maximize their profits. This can best be achieved by minimizing costs in the resource market and maximizing revenues in the product market.
Answer:
The elasticy of demand is 0.54 so it is inelastic
Explanation:
The midpoint method use the average percentage change in both quantity and price.
The fromula is ((Q2-Q1)/((Q2+Q1)/2))/((P2-P1)/((P2+P1)/2))
Q is quantity and P is price
((300-250)/((300+250)/2))/((1.25-1.75)/((1.25+1.75)/2))=0.54
The demand is inelastic, that means that the porcentage in the increase in quantity is minor than the percentage in the reduction of the price. So total revenues decrease.
The answer here is true, mixed economies can evolve when societies with different kinds of economies interact
To solve: add up all in the labor costs and then divide by the number of units produced to get the per unit cost of the labor.
<span>Direct materials = $4,400
Direct labor = $5,600
Factory overhead = $2,400
Units produced = 1,000
Per unit cost = ($4,400 + $5,600 + $2,400)/1,000
Per unit cost = $12,400/1,000
Per unit cost = $12.40</span>
Answer:
annual withdrawals is $1,393.87
Explanation:
given data
Amount Deposited = $5,000
Annual Interest Rate = 7.2%
First withdrawal = 2020
last withdrawal = 2025
solution
we consider equal sized annual withdrawals = x
so we can say that Amount Deposited amount will be as
$5,000 = 
..........1
we take common here 
so
$5,000 = 
solve it we get
x = $1,393.87
so that annual withdrawals is $1,393.87
