Answer:
move along upwards
shift out
shift in
Explanation:
A change in price of a good leads to a movement along the supply curve and not a shift of the supply curve.
Other factors other than a change in the price of the good would lead to a shift of the supply curve. Such factors include :
- A change in the price of input
- A change in the number of suppliers
- Government regulations
When the price of corn increases, the quantity supplied of corn increases. this is in line with the law of supply.
according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
This would lead to a movement up along the supply curve
If the price of seed which is an input to corn decreases, it becomes cheaper to produce corn. As a result, the supply of corn would increase. this would lead to an outward shift of the supply curve.
If the number of grocery stores decreases, there would be a reduction in supply. As a result, the supply curve would shift inwards
Answer Not claiming the instrument hes sending
Explanation:
Answer: 1 and 3 is correct
Answer:
400,000
Explanation:
7% of what number = 28,000
(0.07)(X) = 28,000
X = 400,000
(which is less than 700,000. But that makes sense because not everyone living in Michael's city is necessarily part of the labor force. Some could be kids in school, others grandparents who have retired, others people who stay at home and don't work.)
Answer:
D. usually produces an inefficiently small level of output.
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices is usually set by market forces. There is no need for advertising because all firms produce homogenous products. There is little or no need for government regulation because goods and services are efficiently distributed.
A monopoly is characterised by one firm in the industry. The firm sets the market price. The government regulates the activities of the activities of a monopoly to reduce inefficiency that usually occur. Either quantity produced or price are usually regulated by the government to reduce inefficiency and ensure fair distribution of goods and services.
Monopoly firms usually advertise and undertake more research activities when compared to a pure competition.
I hope my answer helps you
