Answer:
... whereas the fish in the private pond are <u>rival in consumption</u> and excludable.
... the fish in the river are an example of <u>common resource</u>, and the fish in the private pond are an example of <u>private good.</u>
<em>* the first sentence is wrong, the fish in the river are nonexcludable since anyone can fish on the river, or at least try to.</em>
Explanation:
If a good is rival in consumption, it means that if one person consumes it, it will lower the ability of another person to consume the good.
If a good is excludable, ten it can only be consumed by those that are willing and able to pay for it.
When a good is both nonexcludable and rival in consumption, it s a common resource.
A private good is both rival in consumption and excludable
Answer:
B) both curves would shift to the right.
Explanation:
The long-run aggregate supply (LRAS) curve will shift to the right because the production costs will decrease, increasing total production output and lowering prices.
The production possibilities frontier (PPF) will also shift to the right because more production output increases total supply, and that increases the production possibilities of the country.
The description above is trying to define the
undifferentiated marketing strategy as this strategy focuses more on things
that will appear to the people, what will make people more attracted and feel
more appealed on what they are selling or trying to promote in which they try
to ignore the market segmentation. The undifferentiated marketing strategy
focuses more on the whole market with just one offer and they tend to use more
marketing strategies that will be of beneficial to them in terms of attracting
the consumers for this is their main goal and what they focus more when this
marketing strategy is being used in the business or marketing field.
Answer:
The total number of firms in this industry will decrease in the long run because increased competition will mean lower profit margins which will lead to some firms earning sub normal profits which will force them to leave the industry.
Explanation:
Answer:
to those outstanding payments which have highest interest rates.
Explanation:
If we pay and settle more outstanding bills now which have high interest rates it will save us from interest which will be charged in future for delayed payment as it will by multiplied by number of days or months for which it has been delayed.
So if we are not paying high interest outstanding bills it will cost us more in future by high interest amount added to the bill amount.
