When the price at which the quantity of a product willing to be purchased by customers and the quantity of product willing to be made by a producer are equal, this is known as the equilibrium price. Equilibrium price is the price set by a market in which the amount of products that are supplied is equal to the amount of products that are demanded.
Answer:
A Business School student looking at changes in structures of Small and Medium Sized Enterprises (SMEs) using publicly available information
Explanation:
Answer:
INCREASE in Consumption of product Y
DECREASE in Consumption of product X
Explanation:
Based on the information given we were told that the already existing product (X) has a marginal utility of 10 utils as well as the price of the amounts of $5 while the new product (Y) has a marginal utility of 8 utils as well as the price of the amounts of $1 which means that PRODUCT Y marginal utility and price is lower than that of PRODUCT X marginal utility and price.
Therefore equal marginal principle suggests that Oscar should INCREASE his consumption of product Y and DECREASE his consumption of product X reason been that product Y has a lower marginal utility of 8 utils and the price of the amounts of $1 which means that his consumption of Product Y has to be INCREASED while product X on the other has a higher marginal utility 10 utils as well as the price of the amounts of $5 which means that his Consumption of Product X has to DECREASED.
Answer:
Items a) and b)
a) items used currently in the production of goods to be sold items
b) held for resale items currently in production for future
Explanation:
Inventory consists of current assets to be used in production of final goods or are the ones which are final goods and held for sale.
In the given case also, statement a includes raw materials, which are used to make the final good to be sold, which is a part of inventory.
Further, statement b includes work in production or final goods which are currently in production but would be resold.
The items which are kept for their use as like machinery or furniture or which shall be disposed are not inventory but are in fixed assets category.
Answer:
It will cost employer A more to hire another worker
