Answer:
PPF : Downward Sloping Straight Line
Explanation:
PPF is the locus of product combinations that an economy can produce, given resources & technology.
It is downward sloping : Because of inverse relationship between two goods- if one has to be increased other has to be decreased , because of same resources & technology.
Marginal Opportunity Cost (Slope of PPC): is ratio of a good sacrifised to gain each additional unit of the other good.
∆ Good sacrifised / ∆ Good gained
If this ratio is same i.e constant amount of a good is sacrifised to gain an additional amount of the other one , the slope of PPC is constant & it is a straight line
Eg : Good1 Good2 MOC [∆Good2/∆Good1]
0 20 _
10 10 -10/10 = -1 (10-20)/(10-0)
20 0 -10/10 = -1 (0-10)(/20-10)
So , same (1) good 2 is sacrifised to attain a good 1 each time.
However Generally: MOC is increasing , because of assumption that resources are unequally efficient in various goods production - shifting good from efficient to inefficient increases sacrifise each time. This makes PPC usually concave.
Answer:
A per se violation
Explanation:
A per se violation is one that violates antitrust laws for example agreements made that violates the Sherman antitrust act. It has adverse effects on the competitiveness of a market.
Sherman antitrust act of 1980 is aimed at regulating competitiveness in a market. It prohibits anticompetitive agreements, and unilateral activities that tries to monopolize a market.
In this scenario Omega corporation and precision products, inc., are the principal suppliers of their product in their market. They make an agreement that one will focus on retailers and the other on wholesalers.
This is an attempt to monopolize the market by the two principal suppliers, and is a violation of the Sherman antitrust act.
The increase of the new SUV from $24,000 to $26,000 after the agreement illustrates a low-balling technique.
<h3>What is a low-balling technique?</h3>
This is a tactics used when the persuader gets a person to commit to a low offer that they have no intention of keeping and then, the price is suddenly increased.
Hence, the increase of the new SUV from $24,000 to $26,000 after the agreement illustrates a low-balling technique.
Read more about low-balling technique
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Answer:
C) There was no price control on gasoline at the time.
Explanation:
During the 1970s the US government established a price ceiling on gasoline, but as all price ceilings set below the equilibrium price, it results in both a deadweight loss and a supply shortage.
Since the price is "too cheap", then the quantity demanded will be more than the quantity supplied. Rising costs in gasoline production made things worst, since suppliers were constantly reducing their supply of gasoline, while consumer demand was constantly increasing.
A, B, D ,and E statements are correct
Explanation:
The main reason for the annual report is that it is utilized by investors when they expect future income and dividend from the company as well as the risks associated with those cash flows.
The statement of income shows the difference between the income and costs of a company–that is, its profits–over a given duration. Nevertheless, any income reported comes in cash and the expenditure reported always reflects cash expenditures. There will therefore be no substantial difference for the same period between a company's profits reported and its real cash flow.
Suppose all companies follow generally accepted standards of transparency. Two years ago, both companies started operations with similar fixed assets worth $1 million, and neither company sold either or purchased any of these properties. All firms would have to report to their balance sheets the same amount of net fixed assets as the statements are sent to creditors.
Assets other than currency are expected to produce cash over time and the amount of cash they generate will be the same as the amounts on the ledger.
