Answer: Money
Explanation:
Money is one of the injector factor that is necessary for bringing the economic system. The injection of money helps in boosting economy of any country or region. This also helps in investment, strengthening the government to take necessary measures for development, and export. Money can be used to purchase raw materials to produce more number of goods and it enables the customers to purchase those goods and services. This exerts a positive impact on the circulation of economy.
Answer: Price inelastic.
Explanation:
In Denver as described in the question the demand for water is price inelastic as it doesn't change regardless of changes in price of water. An item is said to be price inelastic if the demand remains the same regardless of price rise or fall of that item.
Answer:
Abdul's surplus= $400
Total surplus=$500
Explanation:
Consumer surplus can be defined as the amount a consumer is willing to pay and the amount he actually paid (which is usually less).
Given:
Carolina willing selling price=$2,000
Abdul willing buying price=$2,500
Abdul negotiated price=$2,100
Abdul is willing to pay $2,500 but he negotiated $2,100
Abdul's surplus= $2,500-$2,100
=$400
Total surplus= Abdul's willing price - carolilina's willing price
Total surplus= $2,500 - $2,000
= $500
Answer:
D) South American cocoa bean producers refuse to ship to chocolate producers in the US.
Explanation:
A nonbinding rice ceiling means that the equilibrium price is below the price ceiling, so it will have no effect in real life. In order for the price ceiling to become binding and start to negatively affect the market, the equilibrium price must increase.
The only option that would increase the equilibrium price is option D, since the shortage of a key input will probably result in an increase in the price of the key input. If the price of a key input increases, the cost of producing chocolate will increase, resulting in a leftward shift of the supply curve.
A leftward shift of the supply curve will decrease the total quantity supplied and it will increase the price of chocolate at every level of quantity demanded. This will result in an increase in the equilibrium price which might ultimately change the price ceiling from nonbinding to binding.
it is likely that John chooses this oil company because of their good services
