Answer:
The correct answers are:
A) Common resource
B) Private good
C) Public good
Explanation:
A) Common resources are natural sources, goods or services that provide tangible benefits. In the example, even if the treadmill is inside a fitness room that is open to the public, it is not a public good itself because the treadmill can be used only once at the time.
B) Private goods are those that someone can claim for ownership. In the case, the new drone is only being lent by one person so the others take turns to use it but, it belongs to that very same person.
C) Public goods can be consumed by an individual without the need of taking away others the possibility of using them at the same time. The clock in the park can be freely used by anybody -at any moment- who is around that place.
Answer:
Economic integration
Explanation:
Economic integration can be defined as seen in the question can be defined as the agreement between countries to reduce or remove tariff to ensure that goods and services and other things between both countries.
This can simply mean that, when there are countries that import and export goods between each other, there is need for tariffs to be lowered or removed are to ensure that demand/supply of all these goods and services between the 2 countries. This would help to ensure the seamless availability of goods and services in the market.
Cheers.
Answer:
should it hold the price constant and meet all the excess demand with an increase in production
Explanation:
to determine if the firm should increase their price or not, we have to determine the elasticity of demand.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. the absolute value of elasticity would be less than one
elasticity of demand = 15% / 10% = 1.5
Demand is elastic. if price is increased, the quantity demanded would fall more than the change in price and total revenue would fall.
Answer:
i think it's merger or majority interest
Answer:
Total cost (TC) = Total variable cost (TVC) + Total fixed cost (TFC)
Therefore,
Total fixed cost = Total cost - Total variable cost
hope am helpful
