Answer:
The correct answer is letter "D": consumer surplus that is generated from the introduction of a new product.
Explanation:
Externalities are defined as the effects passed on third parties as a result of the actions of another individual or organization even if the third party has nothing to do with the operations of the individuals or entities. Externalities can be positive or negative.
The product-variety externality is an example of a positive externality. The product-variety externality takes place when a new product is introduced in the market generating a consumer surplus. Thus, end-users benefit from the variety of products available in the market even if that represents more competition for companies.
Freelance entrepreneurs, bounty hunter, and factory worker.
Answer:
The correct words for the blank spaces are: lowering; more.
Explanation:
In case firms have an excess of supply, they will rather sell their products at a lower price than keeping them stored for loss. According to the supply and demand theory, <em>if the prices decrease, so will the quantity supplied but the quantity demanded will rise</em>.
Answer:
$25,000
Explanation:
The value of inventory at the end of the end of the period will be equal to
Value of inventory = Cost of goods sent less the cost of goods already sold.
<em>Remember the arrangement is that of agency, hence the goods are not deemed to be sold except the agent has been able to exchange them for revenue in a sales contract with his own buyers.</em>
Also the sales commission would be reported under a separated ledger which will be reported as part of the operating expenses.
Amount of inventory = $105,000 - $80,000
= $25,000
