Answer:
Money is not considered a capital resource because money is not productive. It provides access to resources but itself does not directly contribute to the production of goods and services.
Entrepreneurial ability does directly produce goods and services; it organizes the resources that do. Entrepreneurs are risk-takers.
Explanation:
Answer:
The correct answer is letter "B": Economies of agglomeration; corresponding diseconomies.
Explanation:
Economies of agglomeration refer to a type of economy in which companies are located one close to another to take advantage of their core competencies. This economic structure typically helps businesses to reduce relocation and delivery costs increasing their profits but in some other cases, the costs could increase if some of the firms lost their economies of scale.
Thus, <em>metropolises in the U.S. must find ways to boost the benefit of economies of agglomeration minimizing the negative effects of the diseconomies of scale in which some firms might fall.</em>
The correct answer is A. Table Object > Excel Spreadsheet
Answer:
The consumer surplus in the market for gasoline is $250 million
Explanation:
Consuemr Surplus
It is the difference between the consumer is willing to pay for the commodity and the actual market price.
The consumer surplus can be calculated as follow
Consumer Surplus = 0.50 x ( Maximum Price - Market Price ) x Quantity
Where
Maximum Price = $6.00
Market Price = $3.50
Quantity = 200 million gallons
Placing values in the formula
Consumer Surplus = 0.50 x ( $6.00 - $3.50 ) x 200
Consumer Surplus = $250 million
Note: The graph in the question was missing, it is attached for your reference.
