Answer:
1. b.Excess Supply
2. e.Equilibrium Quantity
3. c.Equilibrium
4. a.Equilibrium Price
5. d.Excess Demand
David's decision on the electronics to purchase represents opportunity cost.
The decision to hire another economist is marginal analysis.
Ana's decision on how to use her time involves opportunity cost.
<h3>What is opportunity cost?</h3>
Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. When an economic agent chooses one option, he would not be able to choose another option.
<h3>What is marginal analysis?</h3>
Marginal analysis involves comparing the marginal cost or / and the marginal benefit of a decision.
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Answer:
c. decrease monthly output to 200 board feet.
Explanation:
If the firm wants to maximize profit it should decrease monthly output to 200 board feet demand by doing so , vital rate will ultimately increase the cost of the product and shift them to the profit. The correct answer is C.
Entrepreneurship comes with its share of ups and downs. The most obvious advantage is the opportunity to be your own boss. Being in charge and making the important decisions regarding your business can be fulfilling, but it can also be challenging.
Title II of the Social Security Act provides for assistance to those who have paid into the system through their employment and then either reach the age of retirement or become disabled. Children and spouses of those who die can also access these benefits. This benefit is more commonly referred to as SSA or just Social Security.
Hope that helps.