Option C. Suppose there is an increase in the number of buyers of cars and an increase in the cost of manufacturing cars. The basic graphing model of supply and demand predicts: the equilibrium price of cars will increase, but the impact on the equilibrium quantity of cars cannot be determined without additional information
<h3>What is demand?</h3>
This is the term that is used to refer to the number of people that are willing to buy a product at a given wage rate.
When there is a rise in the demand of cars, there would be a rise in rhe equilibrium price of the cars.
Complete question
Suppose there is an increase in the number of buyers of cars and an increase in the cost of manufacturing cars. The basic graphing model of supply and demand predicts:
A. The equilibrium, quantity of cars will decrease, but the impact on the equilibrium price of cars cannot be determined without additional information
B. The equilibrium quantity of cars will increase, but the impact on the equilibrium price of cars cannot be determined without additional information.
C. the equilibrium price of cars will increase, but the impact on the equilibrium quantity of cars cannot be determined without additional information
D. the equilibrium price of cars will decrease, but the impact on the equilibrium quantity of cars cannot be determined without additional information
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Answer:
Accept the fee schedules set by the insurance company.
Explanation:
A participating provider is defines as one who has entered into a written agreement with an insurance company to provide a given range of Medicare Part B services on an assigned basis.
Usually various fees are scheduled for each of the services provided.
The discount on services in this instance is not much and they are always obligated to provide service.
On the other hand preferred provider is one who provides services at a discount.
This individual has experienced structural mobility
Structural mobility:
It happens when societal changes enable a whole group of people to move up or down the social class ladder. Structural mobility is attributable to changes in society as a whole, not individual changes.
In the first half of the twentieth century, industrialization expanded the U.S. economy, raising the standard of living and leading to upward structural mobility. In today’s work economy, the recent recession and the outsourcing of jobs overseas have contributed to high unemployment rates. Many people have experienced economic setbacks, creating a wave of downward structural mobility.
When analyzing the trends and movements in social mobility, sociologists consider all modes of mobility. Scholars recognize that mobility is not as common or easy to achieve as many people think. In fact, some consider social mobility a myth.
What is structural social mobility ?
The concept of structural social mobility refers to change in the social position of many people due to changes in society itself.
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Answer:
C. Shut down the presses printing my book
Explanation:
Since the average variable cost of producing the book is above the demand curve, the best course of action is to shut down the printing (production) of more books. The author would lose less money by shutting down operations rather than continuing production at a variable cost higher than the demand he's receiving for the books.
In economics, when profit is less than the average variable cost, firms are advised to stop production in the short run and incur economic loss on fixed inputs. This is because with continued operations, total revenue would not only be lower than total cost, but rather, would also be less than total variable cost.
Answer:
d.efficient in production but not necessarily in allocation.
Explanation:
The production possibility curve portrays the cost of society's choice between two different goods. An economy that operates at the frontier has the highest standard of living it can achieve, as it is producing as much as it can using the same resources. If the amount produced is inside the curve, then all of the resources are not being used.
- all points on the curve are points of maximum productive efficiency
- However, an economy may achieve productive efficiency without necessarily being allocatively efficient. Market failure (such as imperfect competition or externalities) and some institutions of social decision-making (such as government and tradition) may lead to the wrong combination of goods being produced (hence the wrong mix of resources being allocated between producing the two goods) compared to what consumers would prefer, given what is feasible on the PPF.
