<span>The supplier may feel that revealing cost information to buyers may put them at a disadvantage because it would hurt their pricing strategy, they would be better of withholding the info to sell at a higher price or more convenient manner. The supplier may also not fully understand the cost information, so he or she may not want to give the buyer false information.</span>
Answer:
In deciding how many hours to work, Beulah will make a choice that maximizes her utility; that is, she will choose according to her preferences for leisure time and income.
Explanation:
People obtain utility from products they purchase and they also obtain utility from leisure time (leisure time is the time not spent at work). Generally, for people with low wages react to a higher wage by supplying a greater quantity of labor but for higher wages people who can earn so much that respond to a still-higher wage by working fewer hours.
Answer:
b. a natural response to a sudden increase in demand.
Explanation:
Price gouging -
It refers to the situation , when the seller increases the price of his services and goods to a very high level , which is a unethical situation , is referred to as price gouging .
The situation of price gouging , is very commonly observed in any natural disaster , where due to shortage of foods and other item , the price of the food increases to a very high price , is referred to as price gouging .
Hence , from the question,
The correct option is b.
