The market mechanism benefits society by ensuring that: <span>scarce resources are channeled into products most desired by society
Market mechanism determines which products stays or go by relying purely on the force of supply and demand. If the products are desired by the customers, the producer will always keep up with the demand in order to rake in the potential profit.</span>
Self-interest of course! Though you gave us no clue as to who is Adam... You can tell it's mostly self-interest due to the fact that he hasn't taken any class or anything on it. Looks to me that he genuinely just loves cooking!
Answer:
substitution effect The supply curve slopes upward because at a higher price, producers have an incentive to produce more.
Explanation: Google
Answer:
An increase in net operating income of $127,200
Explanation:
Consider the variable effect of the changes.
Sales ($400 x 400) $160,000
Less Variable expenses ( $82 x 400) ($32,800)
Contribution $127,200
therefore,
An increase in net operating income of $127,200
