Answer: Because private companies will have difficulty getting anybody to pay for them.
Explanation:
Private markets fail to provide the optimal amount of some good such as public firework displays because private companies will have difficulty getting anybody to pay for them.
The main motive behind private markets are simply for making of profit but for public, the main motive is for the government to satisfy the needs to the people. Hence, with regards to the question, the answer will be that there'll be difficulties encountered in getting people to pay for the goods.
Answer:
$170.24
Explanation:
The prime cost are the direct manufactured product's costs
raw materials + direct labors
Direct materials 550,000
Direct labor 880,000
total prime cost 1,430,000
Units manufactured 8,400
Prime Cost per unit = cost / units
1,430,000 / 8,400 = 170.238095238 = 170.24
A network administrator is a person who maintains the network and information system infrastructure in a company. Jolene would likely do the same job description. She keeps updated with the system requirement at the bank to provide every transaction without a problem. She maintains and controls the network and information system at the bank to ensure there is no system problem<span>.</span>
Answer:
This implies that bus is an inferior good and car is a normal good.
Explanation:
Initially, Jim's income was $5000 a year.
As his income increases to $60,000 a year, he decides to buy a car instead of using the bus.
In other words, with the increase in income, the demand for traveling by bus is declining.
This implies that it is an inferior good.
The demand for the car is increasing with an increase in income.
So, the car is a normal good.
An inferior good can be defined as a product that shows negative elasticity. This means with an increase in income its demand declines an vice versa.
A normal good can be defined as a product that shows positive income elasticity. That is, its demand increases with rise in income and vice versa.
