Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature. Hence, to utilize the resources in the optimum possible way and meet the demands of humans, the economy allocates scarce resources.
<h3>How Microeconomics allocates scarce resources?</h3>
Microeconomics analyses how scarce resources are allotted efficaciously to the production of products and services. It facilitates in resolving the critical financial issues of the economic system at an individual level.
Thus, in this manner, Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature.
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Answer:
$112.425
Explanation:
breakeven is
first we need to understand the concept of breakeven:
breakeven in sales makes reference to the amount of revenue in dollars at which a company has a profit of zero ($0.00). covering the underlying fixed expenses of a busines
with this concept we have that :
Total Costs = fixed annual operating cost + variable cost + sold units
Revenue = Total Costs
14.99 * sold units = 75,000 + 4.99 * units
10 * sold units = 75,000
breakeven = 7,500 units
now we can have the breakeven in dollars doing the convertion
breakeven = breakeven in units * prices
breakeven= 7,500 units * $14.99/unit
breakeven = $112,425
Answer:
The correct answer is option A.
Explanation:
The demand for cantaloupes is unitary elastic at price level $2.50. The demand curve here is linear and downward sloping. The elasticity of demand is 1.
In this linear demand curve the lower portion will represent inelastic demand.
When the price level is reduced to $2 the demand will move to the lower portion of the curve, with fall in price and increase in demand.
So, at $2 price the demand will be inelastic, which means it will be between 0 and 1.
