<span>Knowing
that you are buying one pound of bread is part of your rights as a buyer in the
market. Because first and foremost, you give out your money and you are buying
every crumble of the bread, meaning you already owned it.</span>
Answer:
The cost of gasoline is higher in the U.S. than anywhere else in the world.
Explanation:
Answer:
Firms will leave the market in the long run.
Explanation:
Firms will leave the market in the long run.
Generally, the new firms enters in the market because the incumbent firms makes super normal profit. So in the long run, the continuous entry of firms will make the profit zero. Thus, when there is zero profit in the long run then the firms will start leaving the market and the demand for remaining firms will start rising because when firms start leaving the market then supply falls.
<span>In this scenario, Jacob is a "cultural and change steward." He not only has understanding of the company's culture, but also puts effort into changing and enhancing the company in line with its culture. His efforts are sincere because he respects the significance of the company's culture, indicating his stewardship in bringing about change in the company.</span>
Answer:
the larger the number of substitute products available.
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
for a good with many substitutes, if the price of the good increases, consumers can easily shift to the consumption of substitutes. so, the change in price leads to a greater change in quantity demanded.
