Answer:
A: Refer the detail below
B: Refer the detail below
C: Refer the detail below
Explanation:
A. Definition of Supply
Supply is an economic term that refers to the quantity of a given product or service that suppliers are willing to offer to consumers at a given price level at a given period. Supply is positively related to price given that at higher prices there is an incentive to supply more as higher prices may generate increased revenue and profits
B. Non-price factors that will shift the supply curve
1. Producer input costs
2. producer expectation
3. The number of sellers.
C. Impact of Fountain Pens market
If the cost of production of fountain pens falls, producers can produce more goods by using the same amount of money. Therefore, the supply will increase and the supply curve will shift to the right.
Corporations, entities that sold shares of partial ownership in exchange for capital, became more common as the concept of limited liability emerged.
<span>Incorrect Answer(s)</span>
A. Demand will go up.
The demand curve is inverse relationship between quantity demanded and the price of the product. Therefore, as the price of a product goes down, the demand will go up. This makes sense because, given a stable income, you can buy more of a product if the price is less, and people will want more of a product until they maximize their utility.
Answer:
Specific performance
Explanation:
Based on the information provided within the question it can be said that in this scenario the order that Wally should seek is known as Specific performance. This is a court order which forces the breaching party to perform the agreed upon act, and by doing so complete the agreed upon specifications set forth by the contract. Failure to do so will find the individual in contempt of court.
Answer:
a. Taiwan has a comparative advantage over other countries and Taiwan will export soybeans
Explanation:
In the case when the domestic price is less as compared to the world price so here it means the taiwan would have the comparative advantage over the other countries due to this the taiwan would export the soybeans
So as per the given situation, the option a is correct
And, the same should be considered and relevant
