Answer:
Any value given up from not choosing the other options is the <u>opportunity cost</u>
Explanation:
The cost of opportunity is the alternative that you sacrifice when you choose an option.
It represent the benefits that you misses out on when choosing one alternative over another.
In this case, the cost of opportunity is to plant crops.
Answer:
Increase demand
Explanation:
Tastes and preferences of the consumers is one of the determinant of demand that would shift the demand curve rightwards or leftwards.
Now, if there is an increase in the taste of the consumers for a good then as a result this would increase the market demand for that particular good. This would also shifts the demand curve of that good rightwards.
If there is a positive change in the taste of the consumers for a good then they will buy more quantity of that good.
Answer:
17.18%
Explanation:
compound return = ( 1 + 0.35)x (1 + 0.40) x (1-0.38) - 1
1.35 x 1.40 x 0.62 - 1 = 17.18%
The correct option is w1;q1.
<span>At the profit maximizing level of employment, the wage rate is W1 and the level of employment is Q1.</span>
