Demand for the product,the season the product is in or if its outdated
Answer:
Option B is correct.
<u>A horizontal line</u>
Explanation:
Then for m > 2 , the income offer curve would be a horizontal line.
Income offer curve define as the curve which depicts the optimal choice of two goods at different levels of income at constant price. It is otherwise known as "Income Expansion Path"
Answer:
The correct solution is "$26,000".
Explanation:
The given values are:
Cost
= $1,750,000
Salvage value
= $150,000
First Year Extraction
= 6,500
Total Extraction
= 400,000
Now,
⇒ 
On putting the values, we get
⇒ = 
⇒ = 
⇒ = 
($)
Answer:
Normative
Positive
Normative
Positive
Explanation:
Positive Economics is objective and statements are usually based on facts and economic theory. They can be tested.
For example, the statement , In some circumstances, if taxes are lowered,
government revenues actually increase, can be tested and it has it basis in economic theory
Normative economics is based value judgements, opinions and perspectives. For example, the statement - taxes are too high - is based on opinion. To some it is too high while to others it would be too low
