Answer:
The correct answer is: demand curve; option C.
Explanation:
A price floor is the lowest limit fixed on the price of a product. It is imposed by the government to protect the producers.
A binding price floor is fixed above the equilibrium market price. It is a horizontal line above the equilibrium price.
The consumers are willing to purchase the quantity where the price floor intersects the demand curve.
There is an excess supply as firms supply more at a higher price while the consumers demand less.
Since there is a difference between the equilibrium price and what the consumers are willing to pay, there exists a deadweight loss. This deadweight loss is the triangular area below the demand curve and above the supply curve between equilibrium quantity and price floor quantity.
Answer:
specialize in being a surgeon because its opportunity cost is lower.
Explanation:
Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.
Simply stated, it is the cost of not enjoying the benefits, profits or value associated with the alternative forgone or best alternative choice available.
Assuming the best surgeon in town is considered to be the best at cleaning swimming pools, then from an economic perspective and reasoning, this person should specialize in being a surgeon because its opportunity cost is lower.
This ultimately implies that, the benefits, profits or value associated with cleaning swimming pools i(alternative forgone) is lower compared to what is obtainable from being a surgeon.
Answer:
Know each other better.
Explanation:
A team can be defined as a group of people or set of individuals with various skill set, knowledge and experience coming together to work on a project or task in order to successfully achieve a set goal and objective. This ultimately implies that, a team comprises of individuals, workers or employees having complementary skills, knowledge and experience needed to execute a project or task successfully. Therefore, workers working as a team usually interact with the other team members and as a result, this enhances performance and strengthen the level of relationship they share.
Hence, teams have better communication than other workers because they get to know each other better in the course of brainstorming, interaction and sharing of ideas.
Scenario 7-5) Solutions Group managers suggest that clients consider doing a resonance test when designing advertising, because this will help understand target consumers regarding their
a.recognition of the brand.
b.potential purchase of the brand.
c.emotional connection to the brand.
d.attitude changes about the brand
Answer:
Option C is correct
Explanation:
This is used for measuring product experience of consumers on a particular brand. It tests products concept for emotional and functional design attributes such as consumer needs, believability(trust) and differentiation in level of product experience by customers.
Answer:
Paul Copan
Explanation:
Dr. Robertson McQuilkin can be considered a very biblical man, and as such, would always favor socialism more than free market capitalism. His phrase "Capitalism is for freedom, socialism is for equality" and the fact that he believed in a strict following of the Bible, you make him a more socialist person.
Dr. Paul Copan is also a very religious man, but his views are less extreme than Dr. McQuilkin's. He is more pragmatic and argues in favor of religion from a more neutral or agnostic point of view. He even argues that religious beliefs and economics are not mutually exclusive.
