Higher prices will lead to more products being supplied, whereas lower prices will lead to less products being supplied. A change in a non-price determinant of supply is the only factor that can affect whether a good's supply rises or falls.
The cost of the good or service is the determinant of supply that is the most evident. When all other factors are equal, a product's supply grows if its relative price is higher. It's easy to understand why. A business sells products or services to make money, and as prices grow, so do profits.
To learn on price determination
brainly.com/question/15155462
#SPJ4
Answer:
Please refer the attachment to have the solution with explanation
Answer:
B and E
Explanation:
Sherman Antitrust was created so that a monopoly couldn't bankrupt every other business. The other answers are all fine.
The correct answer is the marginal costs are 16 cents per mile for miles above 165 plus the cost of gas. Therefore the marginal cost is $5.60 plus the cost of gas. The initial payment can be forgotten because it is a sunk cost; it is not part of marginal costs.
Answer: Option A
Explanation:
From the question, the demand given is 250,000
For Option A,
Fixed cost = $25000
Variable cost = $0.1 per candle
Total cost = Fixed cost + Variable cost
Total cost = $25000 + ($0.1 × 250,000)
= $25,000 + $25,000
= $50,000
For Option B,
Fixed cost = $10000,
Variable cost = $0.5 per candle
Total cost = Fixed cost + Variable cost
Total cost = $10000 + ($0.5 × 250,000)
= $10,000 + $125,000
= $135,000
Therefore, the board should select option A as the total cost is cheaper than option B.
