Answer: Explanation:
The marginal rate of substitution of peaches for avocados is the maximum amount of avocados that a person is willing to give up to obtain one additional peach. When consumers maximize utility, they set their MRS equal to the price ratio, Pp/PA
where
,
P
p is the price of a peach and
PA is the price of an avocado.
In Georgia, avocados cost twice as much as peaches, so the price ratio is ½ , but in California, the prices are the same, so the price ratio is 1. Therefore, when consumers are maximizing utility (assuming they buy positive amounts of both goods), the marginal rates of substitution will not be the same for consumers in both states. Consumers in California will have an MRS that is twice as large as consumers in Georgia.
Answer:
No formal education required
Explanation:
In many countries, the roofer works with a license. But to be a roofer, you don't need any formal education.
The training is done on the spot, the beginner is learning from other experienced roofers. To qualify for the job of a roofer, a person has to be at least 18 years old, to have a high school diploma and be physically able.
Answer:
The answer is: letter a, To protect national security.
Explanation:
This incident occurred in <em>2016.</em> Taobao is one of the online shopping websites owned by "Alibaba Group." It was placed on the blacklist by the U.S. because of selling<em> "counterfeit goods."</em> However, it was removed from the blacklist in 2012, since it showed efforts in combating piracy.
One reason for putting Taobao in the blacklist is to protect national security. This is the responsibility of the government to the nation when it feels threatened by anything harmful. The pirated goods were considered a threat to the nation. It can also result to financial loss to the owners due to stolen intellectual properties.
Thus, this explains the answer.
Answer:
B. Improved adjustment to technological changes.
Explanation:
Vertical Integration: It is a strategy to gain competitive advantage by taking complete control over a few stages of production or distribution. The company implements vertical integration to reduce the cost of production, reduce dependence on others, improve the quality of the product, etc.
In the given case, the company pursuing vertical integration can gain market power over its competitors through improved quality, reduction in cost, and reduction in operation cost, however, it does not improve adjustment to technological changes.
<span>Because customers often participate directly when it comes to the service process, the success of any technological innovation is highly dependent on customer acceptance. This means that if the customers don't like the product or something about it, a technological innovation will not find a place in the main stream and will be unable to succeed.</span>
