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ivolga24 [154]
3 years ago
8

Menu costs are the​ merchants' costs of changing prices. true false

Business
1 answer:
attashe74 [19]3 years ago
6 0
False,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
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One reason some manufacturing companies have moved production from overseas locations back to the United States is an increasing
Liula [17]

Answer:

The key economic idea being exemplified is c) People are rational

Explanation:

The economists’ assumption is that firms and consumers utilize all available information to attain their goals and weigh all costs and benefits of each action taken. Moreover, firms and consumers only choose an action if the benefits exceeds the costs.  Therefore, the action of manufacturing firms to move their operations from overseas back to the US due to the increased preference for US manufactured goods exemplifies that consumers and firms rely on all available information when pursuing their goals.  

4 0
3 years ago
This table shows the number of cookies several bakeries sell each day. Bakery Number of Cookies Sold Mrs. Track’s 90 Chips 100 T
Serggg [28]

Answer: d. Uncle John's

Absolute Advantage refers to the ability of an individual, company, region or country to produce a particular product or service at a price lower than that of his or her or its competitors.

When the price for the company's products are lower in comparison to other similar products, the demand for its products are more and it's able to sell more number of units than its competitors.

In this case, Uncle John's has the absolute advantage since it sold the most number of cookies (125)









6 0
3 years ago
Read 2 more answers
How can a country gain from specialization and​ trade? A. A country can specialize in producing that for which it has an absolut
strojnjashka [21]

Answer:

C. A country can specialize in producing that for which it has a comparative advantage and then trade for other needed goods and services.

Explanation:

<em>Comparative advantage</em> is simply evaluating the opportunity cost of other benefits or costs, if the country is opting to choose for a specific category of goods for production purposes.

For example, let's say US can produce 20 Television (TV) sets and 50 Air Conditioners in a month. Here, the opportunity cost of producing 1 TV set is 50/20 i.e. 2.5 Air Conditioners. Similarly, the opportunity cost of producing 1 Air Conditioner (AC) is 20/50 i.e. 0.4 TV set. Hence, US should produce Air Conditioners over TV sets as per <em>Comparative Advantage</em> concept.

Take another example, let's say UK can produce 50 Television (TV) sets and 20 Air Conditioners in a month. Hence, the opportunity cost of producing 1 TV set is 20/50 i.e. 0.4 Air Conditioner. On the other hand, the opportunity cost of producing 1 AC is 50/20 i.e. 2.5 TV sets. Thus, UK should produce TV sets over AC's as per <em>Comparative Advantage </em>model.

Hence, US should export AC's to UK and import TV sets from UK to gain from specialization and trade.

<em> In this way nations can gain from specialization and trade by making use of Comparative Advantage theory</em>.

It is to be noted that <em>Absolute Advantage model </em>of Adam Smith is also good as it highlights production of that good by a country, which it can produce in large quantities with fewer resources and minimal time than any other nation in the world. But the <em>Comparative Advantage Model </em>developed by David Ricardo considers opportunity cost and is much more refined than Absolute Advantage Model.

<em></em>

6 0
3 years ago
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When hale appears at the proctors' door in act ii of the crucible, he is described as "different now—drawn a little, and there i
Oxana [17]
<span>This visit to the proctor by Hale occurs after the events that transpired in the town of Salem. Hale feels immense guilt for allowing events to get out of hand in Salem. It is this conflict which gives him a more demure outward persona.</span>
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3 years ago
When do many companies expect to have a net loss
VLD [36.1K]
Every quarter the company can expect a loss
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3 years ago
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