When consumers and businesses have greater confidence that they will be able to repay in the future, <u>the quantity demanded of financial capital at any given interest rate will shift to the right.</u>
Answer: Option C
Explanation: In simple words, inelastic demand refers to a situation when the demand of the buyer does not change as per the price of the commodity. Thus, the price does not increase or decrease with decrease or increase in demand.
Hence the farmers should decrease the supply as there would be no profit for them to supply a product that has an inelastic demand.
Answer:
Option (C) is correct.
Explanation:
Given that,
Population rises from 40 million to 44 million
Country's Real GDP rises from $825 billion to $890 billion during this same period.
Therefore,
This country experiencing a absolute economic growth because of the rise in real GDP.
Initial per capita growth:
= Initial Real GDP ÷ Initial Population
= $825 ÷ 40 million
= $20.625
New per capita growth:
= Increased Real GDP ÷ New Population
= $890 ÷ 44 million
= $20.227
Above calculations clearly shows that there is a decline in the per capita growth.
Hence, there is an absolute economic growth but not per-capita real.
Answer:
c. short-run average total cost is typically above long-run average total cost
Explanation:
In the case when the average of the total cost of the short run should be compared with the average of the total cost of the long run for a given output level so this means that the average of the total cost of the short run should be more than the average of the total cost of the long run
Therefore as per the given situation, the option c is considered
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