Answer: a good with an elastic supply
Explanation:
Price elasticity of supply simply refers to how the changes in market price of a good bring about a responsiveness to the supply of such good.
Based on the information given, the best description of the grass seed that is described in this scenario is that it's a good that has an elastic supply. This is because the price of the good in thus case, is sensitive to the changes in the price.
Answer:
Minimising risk of loss
Explanation:
One of the most significant values of investment is to guarantee that you have a extended portfolio. The key advantage of constructing a portfolio is that it helps in Limiting danger of misfortune. If one venture performs ineffectively over a specific period, different speculations may perform better over that equivalent period, decreasing the potential misfortunes of your venture portfolio from concentrating all your capital under one kind of speculation.
Answer:
The first reason why people are willing to pay so much less or lower than the expected value is due to the uncertainty of flipping a heads. Heads may never be flipped.
The Second reason they are willing to pay so much less or lower is because the expected value will rarely reach over $10 because player would have to make it to the 5th flip in order to recoup their investment in which most of the players are unwilling and ready to take that risk.
Explanation:
Saint Petersburg Gambles
The first reason why people are willing to pay so much less or lower than the expected value is due to the uncertainty of flipping a heads. Heads may never be flipped.
The Second reason they are willing to pay so much less or lower is because the expected value will rarely reach over $10 because player would have to make it to the 5th flip in order to recoup their investment in which most of the players are unwilling and ready to take that risk.
Answer:
B) diminishing marginal utility
Explanation:
The law of Diminishing marginal utility states that utility falls as consumption increases.
The law of demand states that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
Because of diminishing marginal utility, consumption can be encouraged by reducing price.
As utility falls, consumers would be unwilling to buy more goods at the same price, therefore it would be reasonable to reduce price to encourage consumption.
Answer: disaffirm
Explanation:
most cases, whether the contract has not yet been performed (an executory contract) or has been fully performed (an executed contract), the minor may disaffirm the contract.
It should be noted that a contract that is signed by a minor unless in some rare exceptions is normally void and therefore, the minor can disaffirm the contract.
