The statement "bikes shortage should be developed" is correct.
The following information should be considered:
- In the case when the firm wants to sell the product at a lower price so there should be a product shortage.
- The demand and supply should not achieve at equilibrium.
- There is no inelastic demand that should be developed.
- The no of bikes generated should not be increased.
Therefore we can conclude that The statement "bikes shortage should be developed" is correct.
Learn more about the product shortage here: brainly.com/question/12596577
The law of increasing opportunity cost is represented by law of diminishing returns,
Answer: This is the correct and complete question ; The demand function for a product is given by p = -0.05x2 - 0.3x + 0.8, where p is the unit price in dollars and x is the weekly demand for the product each week, measured in thousands of units. Find the consumer's surplus if the market price for the product is $5.
Answer for the consumer surplus is 7033.3million
Explanation:
The concept of consumer surplus shows the disparity between the price that consumers are willing to pay for a product in the market and the actual price they do pay on a product. Consumer Surplus is also the difference between the price that a consumer is willing to pay for a commodity and the price that the consumer actually pays. For example, if you would pay 76p for a cup of tea, but can buy it for 50p – your consumer surplus is 26p
Consumer surplus is measured as the area below the downward-sloping demand curve, or the amount a consumer is willing to spend for given quantities of a good, and above the actual market price of the good, depicted with a horizontal line drawn between the y-axis and demand curve.
The attached below shows the detailed calculations with steps.
The answer to this question is that "several students who were selected in the survey has a larger Body Mass Index compared to the other student". The result will surely give us a smaller mean than the median of body mass index.
Answer:
a. production work on an assembly line that makes a product
Explanation:
A support department refers to a section of an organization that comprises of employees who are saddled with the responsibility of providing timely and professional assistance to other core departments such as the production department.
This ultimately implies that, the support department provides assistance such as maintenance work done to keep production machines running smoothly, safety and security services provided to keep the production facility safe and janitorial services provided for the production facility.
Hence, any production work on an assembly line that makes a product is not a type of work done in a support department because all production work is solely being performed by the production department.
