Answer:
The answer is facial expressions.
Explanation:
For decades, scientists have supported the idea that facial expressions are universal. Many studies reveal that gestures like smiling are understood in the same way all around the world. And while it is true that different cultures have slight variations on the same expressions, it shoudln't be a problem to correctly interpret most emotions.
Answer:
Option “A” Increase, output to increase, price to decrease, and profits to decrease.
Explanation:
Option A is the correct answer because the purely competitive industry is the one in which there are free entry and exit of firms. Generally, firms enter when there is economic profit in the industry. In this way, the economic profit of the industry will attract new firms to enter the industry. Accordingly, new firms will enter the industry. As a result of the entry of new firms in the market, the supply of goods and services (industry supply) will increase which will result in a decrease in the prices of the commodity. This decrease in price will result in lower profit.
Answer:
Asymmetric information
Explanation:
The above case is a case of asymmetric information in the market. The person reading the newspaper have more information about the property. Whereas the person who would sell his ranch to Mr. Smith is the person not reading the news paper and not having any information.
Asymmetric information is also called information failure because one party in economic transaction has more information than the other.
