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Darya [45]
4 years ago
11

What is the difference between a shortage and scarcity? A shortage can be temporary or long-term, but scarcity always exists. A

shortage is a lack of all goods and services; scarcity concerns a single item. There is no real difference between a shortage and scarcity. A shortage results from rising prices; scarcity results from falling prices.
Business
1 answer:
Alika [10]4 years ago
8 0

Answer:

A shortage can be temporary or long-term, but scarcity always exists.

Explanation:

Scarcity is a basic concept in economics which explains that human wants are unlimited and thus termed insatiable as the resources required to meet those needs are in limited supply.

As such scarcity as a concept has always been in existence and will always b. Shortage on the other hand is a limited supply of an item which may be in the short term or in the long run. While a shortage may be dealt with in time, scarcity will always be in existence.

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"If bookstore ABC Books determines it is going to sell books at its profit-maximizing price of $16 in a market facing monopolist
Lady_Fox [76]

Answer:

40 books revenue is maximized

Explanation:

Profit is maximized where Marginal cost equals Marginal Revenue. The revenue is maximized where 40 books are sold for the price of $16. The marginal revenue at this point equals the marginal cost. Profit will be maximized for the ABC Books if it sells 40 books at the price of $16 per book. Here Marginal cost is $10 and marginal revenue is also $10. This is profit maximizing point.

7 0
3 years ago
You are planning to purchase displays for your store which has 2,400 sq ft of selling space. Each display has a footprint of 10
Butoxors [25]
<span>Solution: Space to be left as open = 60% of 2400 square ft. = 2400 * 60/100 = 1440 sq. ft. Space left for display = 2400- 1440 = 960 sq ft. Size of each display = 10 ft * 4 ft = 40 sq. ft Number of displays that can be fitted in the store = Space left for display / size of display = 960 / 40 = 24 24 displays can be put up in the store.</span>
4 0
3 years ago
Read 2 more answers
At most movie theaters, one employee sells tickets and another employee collects them. One night, when you’re at the movies, you
Naily [24]

Answer: Division of Labour

Explanation: This is the division of a task or job role into smaller parts between two or more people.

Division of Labour helps to achieve a higher rate of productivity and efficiency.

By having the same person doing both jobs productivity and efficiency is low, because the workload increase on that individual which directly affects his performance on the job.

3 0
3 years ago
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LeBron's Bookstores has two divisions: media and books. The media division had another great year with net sales of $14 million,
gayaneshka [121]

Answer:

$1,820,000

Explanation:

Calculation to determine at what amount did LeBron's Bookstores report the discontinued operations

Using this formula

Discontinued operations=Net sales-Cost of goods sold -operating expenses - Income tax expense -After taxes

Let plug in the formula

Discontinued operations= $ 14 million-$8 million-$3 million-$900,000-$280,000

Discontinued operations=$1,820,000

Therefore what amount did LeBron's Bookstores report the discontinued operations will be $1,820,000

8 0
3 years ago
Marilyn sells her highly successful travel agency to Adelle. In the sales contract, Marilyn agrees never to open a travel agency
vlabodo [156]

Answer:B. Unenforceable as a violation of public policy.

Explanation: The contract which Marilyn entered with the buyer of her firm is Unenforceable as a violation of public policy. Under Normal public policy no one should be Prevented from going into any business once it is Legal and was done According to the laws of the land. In a capitalist Economy like the United States of America, private ownership of Businesses is encourage,if Marilyn finally opens a new travel agency,it will not be enforceable by the law to prevent her or stop her Business.

8 0
3 years ago
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