16×2 is 32
16+16 is also 32
adopt a writing plan document....
Answer:
The good is inferior
Explanation:
For instance, if the income of a consumer increases, his demand for cheap shoes and shirt decreases and the demand for expensive shoes and shirt increases. So, therefore, the cheap shirt and shoes are inferior goods in the instance. So, whenever quantity demanded of a good fall when the income rises, the goods is considered inferior goods.
Answer: Option D
Explanation: In simple words, short run refers to the time frame in which all the factors of production are fixed while in the long run all of them are variable.
This happens due to the fact that in the short run if the company goes for changing the level of inputs than the opportunity that were availing in that time period will be gone by then leading to losses as the total time frame is very less in short run.
On the other hand, firms tends to have greater life in the market and keeps developing themselves with the changing forces of market.