Answer:
Shift outwards.
Explanation:
The production possibilities frontier or curve is the curve that shows various combinations or bundles of goods that an economy produces by using its all resource and if there is any point inside the curve then it will depict the inefficiency or underutilization of resources. Moreover, the PPF curve shifts outwards when there is an improvement in technology, due to which the output has increased. Similarly, the increase in output due to labor productivity will result in the rightward shift in the PPF curve.
Answer:
A) Positive, because higher prices yield larger quantities supplied.
Explanation:
The correct answer to the question is A) Positive, because higher prices yield larger quantities supplied. The price elasticity of supply determines the change in price as a response to the change in supply of the good or service supplied. This is usually calculated in a figure that determines that if price increases what will be the impact on its supply, which usually is a positive figure.
Answer:
Note that goods that are considered in general have a broad demand and goods with broad demand are inelastic as there are no substitutes for them. Goods that are specific by nature have narrow demand and have elastic demand because consumers can switch to others if the price is increased slightly.
Hence, Mayonnaise in general, Washing machines and beer have inelastic demand as there are no close substitutes. The remaining three, namely, specific brand of mayonnaise, Chevrolet automobiles and Tesla automobiles have elastic demand as there are substitutes and consumers/users will switch to others if the price is no more favorable.
Answer:
Cultural formula
Explanation:
Cultural formula can be described as a situation there is tend to a consistent occurrence of certain roles and props in a series of media events.
Cultural formula can be employed in a novel through the use of certain roles for characters and props that go along with the genre.
Therefore, Chandler's novels followed a cultural formula.
Answer:
$21,080.2
Explanation:
The price of the car will be the down-payment plus the future value of 375 paid each month for 5 years compounded monthly at 9.72%.
The formula for calculating future value is
PV = P × 1 − (1+r)−n
r
PV is $350
r is 9.72 % or 0.0972 % per year or 0.0081
t is five year or 60 months
FV = 350 x (1-(1+0.0081)-60
0.0081
Fv =350 x 1-0.61628715419
0.0081
FV =350 x( 0.38371284581/0.00810
FV =350 x 47.371956
FV =16,580.20
The value of the car = $4500 + 16,580.20
=$21,080.2
