Answer:
The correct answer is option A.
Explanation:
Recession in an economy means that the economic activities are reduced. During recession aggregate demand gets reduced.
When the recession is announced the firms will realize that the demand for their products must have been reduced. To reduce the cost of production the firms will reduce the wages paid to the workers.
This will further reduce the income and the demand for products.
Answer:
1.) For Firm A: - B. Strategy 2 is a dominant strategy
A strategy is a governing strategy for a performer if it yields the best payment (for that player) no matter what strategies the other performers choose. Firm A receiving total payment of 30 from Strategy 2 as associated to 18 from Strategy 1.
2.) For Firm B: - A. Strategy 1 is a dominant strategy
A strategy is a governing strategy for a performer if it yields the best payment (for that player) no matter what strategies the other performers choose. Firm B getting total payment of 28 from Strategy 1 as associated to 22 from Strategy 2.
3.) D) Firm A chooses Strategy 2 and Firm B chooses Strategy 1.
Answer:
Consumer surplus decreases by $180.
Explanation:
Current consumer surplus = $25 * 90 unit = $2250
If the price of goods drop to $23 then the new consumer surplus will be
$23 * 90 units = $2070
The change in consumer surplus is $180 .
Answer:
The curve and calculation are attached below
The term secondary data denotes the facts and figures that have already been collected prior to the research at hand. In this case the data is about <span>coffee collective and secondary data in this case </span>might include previous years' budgets, old coffee collective marketing activities, internal sales figures, and customer emails.Primary data on the other hand are <span>facts and figures that are collected as part of a projec</span>