Answer: higher; lower
Explanation:
From the question, we are informed that three firms are currently producing and selling in a market. When one of the three firms exits the market, economists expect that there will be a rise in the equilibrium price while there will be a reduction in the equilibrium quantity.
This is because when one producer leaves, there will be less supply of the good that is sold, this will eventually lead to a rise in price.
A lot of nations often produce different types of goods. Nations specialize in production and engage in international trade in order to increase output and income.
- There are several reasons why nations specialize and engage in trade. The obvious reason is the principle of comparative advantage.
This principle states that each country should focus in the products that it can produce most steadily and cheaply and trade those products for goods that foreign countries can produce most readily and cheaply.
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Answer:
<h3>Always make sure to write all the ideas down.
</h3><h3>Make no judgement.</h3><h3>Briefly discuss and elaborate on each idea as they are presented.
</h3><h3>Let people know they will be brainstorming in advance if possible
.</h3>
Explanation:
- One of the most basic rule of brainstorming includes the practice of inclusiveness. It is important to bring all ideas together and write it down as in a brainstorming session, quantity matters over quality.
- Each and every idea should be <u>respected by all</u>. One should not make any judgement of another person's idea.
- It is important to briefly discuss each idea as they are presented as to fully <u>comprehend the main motive behind each idea</u>. Some ideas become more refined as we discuss more upon it.
- It is also important to let the members know that there will be a brainstorming session in advance so that <u>each member can think of an idea before the actual session</u> takes place.
If a taxpayer may choose to accept a reduced market rate of return on an investment to take advantage of a tax preference associated with the investment. in such case, the taxpayer will pay a/an: Implicit tax.
<h3>What is Implicit tax?</h3>
Implicit tax can be defined as the extra amount that a person pay for an assets if the owing the assets does not include any form of benefit. on the other hand it can as well be defined as the decline in the income of a person after deducting all necessary deduction such as tax in a situation were the income of the person increase.
A taxpayer that choose top accept reduced market rate of return on their investment or assets due to the benefit they want to derived for doing that will have to pay implicit tax.
Therefore this is an example of implicit tax.
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Answer:
E. culture.
Explanation:
Culture can be defined as a set of practices, beliefs, values, and customs that are shared by a group of people, and that enjoy legitimacy.
The travel book insight guide specifically tries to inform the traveller about those cultural aspects, probably in order to manage the traveller's cultural expectations so that they do not suffer too much of a culture shock.