Answer:
Experience an inward shift of its production possiblity curve.
Explanation:
Production possiblity curve is a graphical representation of the maximum number of products that a company can produce, if it produce only two product using all the resources efficiently. The maximum production possiblity of one product is shown on one side graph and another product on other side to compare which product can be produced to reduce cost and wastage while maximizing the profit. This also help the management to know the effecient use of resources or factor of production; Land, labour, capital and entrepreneurship. Therefore, lack of resources to Cuba have lead it´s economy to decline.
Return on Investment = 83% or 0.83
total Profit = 75000
term = 6 yrs
annual profit = 75000 / 6 = 12500
initial investment = 15000
ROI = Net Profit / Total Asset
= 12500 / 15000
= 0.83 or 83% (0.83 x 100%)
Answer:
The opportunity cost of the event $21.
Explanation:
Opportunity cost is the loss of alternative when someone chooses an alternative.
Number of Hours = 3 hours
Earning per hour = $7
Total opportunity cost = $7 x 3
Total opportunity cost = $21
As Max has to bear the loss of $21 earning when he goes to the event in the museum. So this is his opportunity cost.
Answer:
some goods aren't internationally traded
Explanation:
Purchasing power parity is most popularly known as the PPP. It may be defined as the measure of the prices of the various countries which makes use of the price of some specific goods in order to compare the absolute purchasing capability or power for the countries' currencies.
It is used to measure and compare prices at different locations.
The purchasing power does not hold good in the short to the medium run as different countries produces different goods and as such all the goods are not internally traded all over the locations or countries.
Answer:
Option (a) is correct.
Explanation:
When the price of ground beef increases, this means that there is an increase in the cost of production of hamburgers because the beef is used as an input in the production of hamburgers.
So, an increase in the price of beef will result in a decrease in the supply of hamburgers because it will become less profitable for the suppliers and this will also shifts the supply curve leftwards.
Hence, this lower supply of hamburgers will cause the price of hamburgers to rise.
