The curve of production possibilities would shift inward because labor is considered a factor of production. By reducing productive resources, the maximum level of production will decrease and unemployment level increases.
In a Market Economy, Employment and Production Levels are set by balance between Supply and Demand. In this situation, a reduction on Demand means that Level of Production is higher than what Market can afford and there are two possibilities: (i) Lowering prices of goods and services, which may be perjudicial for businessmen and capitalists but may allow to sell this surplus, (ii) Firing some workforce to eliminate Supply surplus, since there is a relationship between Workforce and Production, which is tinged with other production factors as Technology and Skills.
Hence, the curve of production possibilities would shift inward because labor is considered a factor of production. By reducing productive resources, the maximum level of production will decrease and unemployment level increases.
Please see this question related to Market Economy: brainly.com/question/2343400
Answer: The cost for 20 people equals $180.
Step-by-step explanation:
Given: It costs $100 to rent the bowling alley, plus $4 per person.
The cost for any number (n) of people can be found using the expression
We can find the cost for 20 people by substituting n=20 in the above expression, we get
Hence, The cost for 20 people equals $180.
Division means to divide. Divide means to "share out" evenly.
For example, "Tom uses division to share 6 apples, among his 3 friends"
"Tom divides 6 by 3 (written as 6/3)"
Answer:
464 dollars.
Step-by-step explanation:
Answer:
6 ways
Step-by-step explanation:
