Answer:
The quantity is likely to decrease, the change in price depends on the extent of change in demand and supply.
Explanation:
The fear of the mad cow disease lead to a reduction in the demand for beef. This caused the demand curve to move to the left.
At the same time, destruction of cattle heads ordered by the government lead to a reduction in the supply of beef. This caused the supply curve to move to the left.
This leftward shift in both demand as well as supply curve will lead to a reduction in the equilibrium quantity of beef.
The change in price of beef depends upon the extent of change in demand and supply. If both decrease by the same extent, the price will remain the same.
Answer:<em> Negative externality is defined as the cost that is incurred by a individual who isn't involved in the economic transaction.</em>
In the above question, the following is the example of negative externality: <u><em>smoking harms the health of nonsmokers who are nearby.</em></u>
Here, the cost is incurred by the nonsmokers who are standing nearby individuals who prefer smoking. Thus creating negative externality.
<u><em>Therefore, the correct option is (c)</em></u>
The deadweight loss from a tax is likely to be greater with a good that has many substitute.
<h3>What is deadweight loss?</h3>
This refers to scenario, tax imposed create loss of economic sufficiency; when the supply of goods and services aren't met.
Dead weight loss is the inefficiency that occurs when the market is not in equilibrium.
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Because R&D initiatives are expected to yield a greater rate of return, businesses seek a huge quantity at a cheap cost.
<h3>What are the necessary finances?</h3>
To calculate your financial requirement, divide your anticipated family commitment by two and the cost of attendance (COA) for even a school (EFC). Although COA varies from university to university, your EFC does not change no matter which school you attend.
<h3>Which four necessities in terms of financial are there?</h3>
For the majority of Americans, job is the first step toward financial stability. People need revenue to meet expenditures and for budgetary considerations. They also must invest for the future, save cash for a rainy morning, borrow money to acquire assets, plus insure yourself against shocks.
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Answer:
The correct answer is letter "C": "Mission Statement".
Explanation:
A company's mission statement represents the objective that the firm must set. That objective must last and should be adaptable to the changes it could be exposed to. It clearly states the purpose of the company and why it exists and operates. The mission statement also identifies by whom the entity is formed and their respective functions.
