Answer:
Option (b) is correct.
Explanation:
This is a case of monopoly market condition where there is a single firm operating the whole market. The price of the products is set by the single firm and the buyers in this market are price taker. The monopolist can earn normal profit, losses and abnormal profit in the short run and can earn normal profit and abnormal profit in the long run.
In our case, the price of diamonds is high because there is only single firm in the whole market and there is no other competitors in the market. That's why they are charging the higher prices.
I am figuring this question out for you! one moment please
Explanation:
"Suppose an economist test the theory that when the price of leather increases, fewer pairs of shoes ..."His observations invalidate the testability of his hypothesis since they go against the ceteris paribus premise. This is further explained below.
<h3>What is an economist?</h3>
Generally, an economist is simply defined as a professional in economics.
In conclusion, To illustrate, "let's say an economist investigates the hypothesis that higher leather costs lead to fewer shoe purchases." Since his findings contradict the ceteris paribus premise, his hypothesis cannot be tested.
Read more about economist
brainly.com/question/14299791
#SPJ1
Answer:
identify the critical path
Explanation:
Based on the information provided, the logical next step for Emily would be to identify the critical path. This means identifying the sequence of project network activities that add up to the longest overall duration which in term will reveal the shortest time possible to complete this project through unnecessary parts within the critical path, and will allow her to meet the imposed deadline.