If the two nations trade, the trade price of wheat in terms of steel will be "greater than the domestic opportunity cost of wheat in alpha and less than the domestic opportunity cost of wheat in beta".
Opportunity cost speaks to the advantages an individual, financial specialist or business misses out while picking one option over another. While financial reports don't demonstrate opportunity cost, entrepreneurs can utilize it to settle on wise choices when they have different choices available to them.
In order to <u>gain market share</u><u>,</u> some a firm whose product that has a large economic value do decides to charge the same price as competitors.
<h3>What is a
market share?</h3>
A market share refers to an industry percentage that is earned by a particular company over a specified time
In conclusion, some firm whose product that has a large economic value charges the same price as competitors In order to gain market share.
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Answer:
4. The total market demand has not changed
the demand has been adjusted by a change in supply
Explanation:
Movement along a demand curve results from changes in the price of the product. Supply influences price change. Movement along a demand curve means the quantity demanded has increased or decreased due to a price change.
A total change in demand is when the quantity demanded changes at all prices. Changes in customers' preferences or a change in the prices of compliment or supplement products make the entire demand change.
A shift in the demand curve demonstrates a total chan
Another name for a negotiated labor-management agreement is a Collective bargaining agreement (CBA).
<h3>What is
Collective bargaining agreement ?</h3>
Collective bargaining agreement can be regarded as the contract which encompass results of the negotiations that exist between the employer and the union.
Therefore, Another name for a negotiated labor-management agreement is a Collective bargaining agreement (CBA).
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