Answer:
The correct answer is normative analysis.
Explanation:
A positive analysis is the one that attempts to reflect reality with statements of cause and effect and is used mainly in microeconomics. On the other hand, a normative analysis, in which reality is prescribed, that is, we go beyond explanation and prediction, value judgments are used.
In contrast to the positive analysis, the normative analysis responds how the law should achieve efficiency objectives. This analysis assumes that efficiency is an objective that law should reflect and that legal norms should change when they fail. From this perspective, efficiency is a social value that the Law should promote.
I really want to say income statement
Answer:
firm can change output levels without having any significant effect on price.
Explanation:
In the case when we say that the firm is a price taker that means the firm has the power to change the level of an output but this does not have any kind of impact on the price. They accepted the price for the prevailing market and each unit could be sold at the similar market price. It could impact the market price also they enjoy the pricing power
Therefore the above statement should be considered
