Using the diagram of the market for corn. If the price in this market is $2 per bushel, then there will be option A: a shortage of 8 thousand bushels.
<h3>What is the issue of the quantity demanded about?</h3>
Based on the image attached, 12 thousand bushels are being wanted at this price of $2 per bushel, while 4 thousand bushels are being delivered.
These figures are also shown in the image above. Now when you contrast the quantity given and sought at this pricing. The quantity supplied (12) lower than the quantity demanded (4). Or, to put it another way, the quantity that producers want to sell is lower than the quantity that customers want to purchase.
Therefore, Since Qd > Qs, we refer to this as an excess demand scenario or shortage.
Hence, 12 - 4 = 8
So there is a a shortage of 8 thousand bushels in quantity supplied.
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Answer: rational decision-making model
Explanation:
Rational decision-making model could be seen as when the decision maker has all alternatives on a decision with much information, with time on their hands and resources to evaluate the various choices thats made available before them.
Danny's choice to go against other people decision and using a detailed and different consideration for the employee decribed he used a rational decision making model, he still believed in the individual when others did not, and this affected his decision and didn't allow that of others to influence him.
Answer:
glove department or center console
Explanation:
Answer:
1- Wages Expense (Dr.) $1,025
Wages Payable (Cr.) $1,025
2- Wages Expense (Dr.) $1,845
Wages Payable (Cr.) $1,025
Cash (Cr.) $820
Explanation:
Wages expense = $205 * 5 days a week = $1,025 per week.
Wages expense = $205 * 4 days a week = $820 per week.
Answer:
Option (a) is correct.
Explanation:
Alland can produce 32 units of food per person per year or 16 units of clothing per person per year:
Opportunity cost of producing a unit of food = (16 ÷ 32)
= 0.5 units of clothing
Opportunity cost of producing a unit of clothing = (32 ÷ 16)
= 2 units of food
Georgeland can produce 36 units of food per year or 18 units of clothing:
Opportunity cost of producing a unit of food = (18 ÷ 36)
= 0.5 units of clothing
Opportunity cost of producing a unit of clothing = (36 ÷ 18)
= 2 units of food
Therefore, the Georgeland has a absolute advantage in producing both the goods because it can produce more quantity of both the goods with the same resources as Alland. But the Georgeland has not having comparative advantage in producing either of the goods.
