Explanation:
When I was in school grade 9, I had my first interaction with a robot during a visit to technology expo since then I could not think of anything else but to awe for exploring the fascinating world of robots.
I didn't had much resources to buy tools and components to build robots but still my passion kept me motivated and I found my way to get hands on scrap parts available at the various spots in my locality. Slowly and gradually, I kept learning and building robots and by the time I was in my high school, I had already won 3 major school competitions and received tremendous amount of recognition. Due to my outstanding performance, I was awarded with merit scholarship for the college.
In college, I continued my handwork and kept myself busy in exploring the depth of robotics. I had the pleasure of working on a big project funded by a our college. The project was to build a search and rescue quad-copter. Honestly speaking, it was not easy! I worked day and night tirelessly, and finally after 6 months I successfully built the quad-copter.
My goal is to become an inventor in the field of robotics. Building such robots that can make a difference in our lives and help humanity to grow and thrive. I believe that engineering program at Princeton encourages such passion and vision and would be a great learning platform for me to showcase my talent and skills.
Answer:
The correct answer is option a.
Explanation:
Apples and oranges are substitutes. An increase in the price of oranges will cause the demand for apples to increase. This is because people will prefer a cheaper substitute. This increase in the demand for apples will cause its demand curve to shift to the right.
The rightward shift in the demand curve will cause the equilibrium price to increase. But this change in price will not cause a change in demand. The change in price affects only the quantity demanded. Change in demand happens because of a change in other factors.
So, the given statement is not correct.
Answer:
$2,800
Explanation:
An interest only loan represents a type of loan offer where a borrower is only expected to pay the interest either for some of the term of the loan as agreed or for all of the terms of the loan. However, the principal amount that is collected remains constant all through the agreed interest -only period.
Since the loan obtained by John's Auto Repair is Interest Only, it means that the principal of $35,000 remains constant.
Hence, in the 8th year, John is expected to pay only the interest for the period =
0.08 x $35,000
= $2,800
Answer:
Natural monopoly
Explanation:
A natural monopoly refers to a type of monopoly that occurs when the start-up costs or infrastructural costs are high or economies of scale in an industry are very powerful in such a way that only the largest supplier in the industry which is usually the first supplier in the market has a great advantage over potential competitors and therefore becomes the only supplier in the industry.
On the long-run average cost (LRAC) curve, a natural monopoly exists when the quantity demanded is less than the minimum quantity that is required to be at the bottom of the LRAC curve.
Therefore, a <u>natural monopoly</u> exists when the quantity demanded in the market is less than the quantity at the bottom of the long-run average cost curve.
