Answer:
False
Explanation:
Although the first part of the statement correctly describes the law of supply as an inverse relationship between the price of good/service and the quantity suppliers would supply (given a particular price), the second part is false.
Height of the supply curve indicates a minimum price that would incentivize suppliers to start creating a particular good. The notion of customers and purchase is related to the demand curve, not supply.
Answer:
a. Producer surplus
b. Neither
c. Consumer surplus
Explanation:
The producer surplus is the difference between the minimum price a producer is willing to accept for a product and the price he actually gets.
The consumer surplus is the difference between the maximum price a consumer is willing to pay for a product and the price he actually gets.
a. Here, the person gets $189 for his laptop but he was willing to accept $180 as well. This is an example of producer surplus. The producer surplus, in this case, is $9.
b. In this example, we only know the price that the producer actually received and the price the consumer actually paid. The maximum price the consumer was willing to pay or the minimum price that the producer was willing to accept is not mentioned. So this is neither an example of producer surplus nor consumer surplus.
c. Here, the consumer was willing to pay $47 for a sweater, but he actually has to pay $40. This is an example of consumer surplus. The consumer surplus is equal to $7.
Answer: D. Search, Display, Video, Shopping and App
Explanation: Advertising with Google Ads starts with creating a campaign based on your business objectives. Each campaign type determines where your ads appear and the format in which those ads are displayed. Different campaign types — Search, Display, Video, Shopping, and App — can support your business objectives.
Answer:
Predictive analytics.
Explanation:
Predictive analytics can be defined as a statistical approach which typically involves the use of past and present data ( factual informations) in order to determine unknown events or future performances of a business firm or organization. It is focused on determining what is likely to happen in the future.
In this scenario, Costco wants to know how to stock their warehouses for a future pandemic and are using current sales data to help them project the needs.
Hence, the kind of analytical technique Costco are using is predictive analytics.
