Wages would fall as the number of workers available grows. Landowners in Louisiana will earn more rent as the demand for land increases.
<h3>What is the
law of demand and supply?</h3>
The law of supply and demand is still in effect:
Wages: when the amount supplied increases, but the quantity required does not, the price falls.
When the quantity required increases without the quantity supplied increasing, the price rises.
Thus, Wages would fall as the number of workers available grows.
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An example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.
<h3>What is a
liquidated damages?</h3>
A liquidated damages refers to a pre-estimated probable loss that would be suffered from the late completion of a contract.
In conclusion, the example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.
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Answer:
Yes.
Explanation:
Market rate of exchange of jello for pie:
= Price of a piece of apple pie ÷ Price of jello
= $3.75 ÷ $1.25
= 3.00
At his current consumption point, Nick's marginal rate of substitution (MRS) of jello for pie = 3
Since MRS = Px/Py, hence, at this point of consumption bundle he is having a maximum level of utility.
Therefore, there is no need to change his consumption bundle because he is already at his maximum level.
Answer:
freedom to make decisions
electronic mail and telephone
face-to-face discussions
C. the answer is c. hope it helps