<span>An economy moves from short-run equilibrium to its long run equilibrium as a result of the upward adjustment of minimal wages, prices, and perceptions to a new price level. If government spending increases, total demand will increase as well.</span>
Costs are reduced because they are shared and also one firm may offer services that it has specialised in at reduced costs
Supervisors are apt to be directly involved in activities related to human resources which includes job analysis and design, recommendation of pay increases, performance appraisals, and employee training.
<h3>What is Human Resources activities?</h3>
Human resource activities refers to all the activities related with manpower in a organisation. These includes recruitment, selection, training and development and performance appraisal.
A supervisor refers to a person who take all the administrative in charge within a company. He analyze and evaluate the performance of each employee and help them in involving in the activities related to human resources.
The responsibility of supervisor includes the needs of organisation, checking the performance of employee and provide them direction and support and encourage communication between employees and employer.
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The reduction in Max's demand for hot dogs as his income rises shows that Max's hot dogs are an inferior good.
<h3>What is an inferior good?</h3>
An inferior good is a concept used in economics to describe a product whose demand falls as people's earnings increase. As salaries and the economy improve, people begin to replace these things with more expensive alternatives.
- The demand for an inferior good usually falls as consumer income grows, as opposed to normal goods, which experience the reverse.
Therefore, we can conclude that the reduction in Max's demand for hot dogs as his income rises shows that Max's hot dogs are an inferior good.
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