Answer:
Shift outwards.
Explanation:
The production possibilities frontier or curve is the curve that shows various combinations or bundles of goods that an economy produces by using its all resource and if there is any point inside the curve then it will depict the inefficiency or underutilization of resources. Moreover, the PPF curve shifts outwards when there is an improvement in technology, due to which the output has increased. Similarly, the increase in output due to labor productivity will result in the rightward shift in the PPF curve.
Answer:
The amount of Best Buy's cost of goods sold was $32,720 million
Explanation:
cost of goods sold = sales - gross profit
= $42,410 million - $9,690 million
= $32,720 million
Therefore, The amount of Best Buy's cost of goods sold was $32,720 million
Answer:
The correct answer is B. The law of demand states that quantity demanded will vary inversely with the price of the good.
Explanation:
The law of demand states that the value of demand decreases as the price of the product increases, that is, between the value of demand and the price there is an inverse relationship, therefore, an increase in price causes a decrease in demand, and a decrease in price causes an increase in demand.
Therefore, manufacturers who have decided to produce more should know that an increased number of goods can only be sold at a lower price.
The quantity of goods purchased depends on the price as well as on the average income of the buyers, the size of the market, the price and usefulness of other goods, including substitutes, subjective tastes and preferences of buyers.
Looking toward the future, Emily ought to utilize the five stage procedure to better decide her future. That, as well as search for an Ideal vocation and utilize the five stage illuminating procedure to discover it. Emily ought to concentrate on the things that she has involvement with, is great at.
Answer:
See the attached and the explanation below.
Explanation:
a. A production possibility curve (PPC) refers to a curve that displays different combinations of the maximum output of two goods that can be produced from a given or fixed amount of input and technology.
An example of PPC is figure (A) in the attached document.
b. When there is a major technical breakthrough in the capital goods industry and the new technology is widely adopted only in this industry, it will make the PPC to rotate outward at the capital good axis only, while consumer good axis will remain the same (see the curve and the arrow in Figure B in the attached). This implies that the break has enabled the economy to produce more of capital goods while consumer goods production level remains the same.
c. When there is a technological advance in consumer goods production, but not in capital goods production, it will make PPC to rotate outward at the consumer good axis only, while capital good axis will remain the same (see the curve and the arrow in Figure C in the attached). This implies that the break has enabled the economy to produce more of consumer good while capital good production level remains the same.
