Answer:
Option 1 - the opportunity cost of leisure decreases as wages decrease.
Explanation:
The labour supply curve of any occupation will always be upward sloping because when wages, (the opportunity cost of leisure) rises, the more hours of leisure a staff will relinquish to do more work.
The opposite of this is true as seen in option 1 of the question.
Opportunity costs will reduce with a consequent reduction in average wages. When fewer people want to retain their employment due to decrease in wage rates, it would lead to a fall in demand for leisure.
Answer:
a. social
Explanation:
Social trends are the trends and habits of the consumers which they tend to display any product. It includes the data and information about the behavior of the customers and their communication related to the product they purchase. The trends of the consumers help the business to flourish more effectively among the consumers.
If all firms only earn a normal profit in the long run, firms will develop new products or lower-cost production methods because they can innovate and possibly earn an economic profit in the short run.
Explanation:
Competition involves constant efforts by companies and executives to do more than the loss (normal gains) of new goods or by improving ways to manufacture current products at lower prices. Therefore, if businesses can invent, they will achieve short-term economic advantage.
Economic benefit encourages entry, economic losses lead to exit and firms in a highly profitable market earn little economic income in a long-term equilibrium. In an industry where inflation does not change the costs of materials (a market with a constant cost), the long-term supply curve is a horizontal line.
The opportunity cost of hosting these events is the next best alternative bundle of goods and services that could be provided.
<h3>What is meant by opportunity cost?</h3>
This is the term that is used to talk about the foregone alternative. It is what would have to be neglected because of another choice that has to be taken.
What this means is that the money that would have been spent on other aspects of the government was spent on the world cup so the benefits that the people would have gotten from the options are lost.
Hence we can say that The opportunity cost of hosting these events is the next best alternative bundle of goods and services that could be provided.
Read more on opportunity cost here
brainly.com/question/1549591
#SPJ1
The type of audit that occurs at your home or in the business is called the field. It is because the field is the place like home or business in which the IRS goes to in means of conducting the investigation in regards with them and their tax payer.
