Companies felt that unions were conspiracies which interfere with property right because, unions usually challenge the employers about the working conditions of their workers and the manner the employers treat their workers; they fight for the rights of the worker. Because of this, employers usually do all they can to stop unions from forming.
Answer:
The correct answer is D.
Explanation:
Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another as goods but not perfect substitutes (such as from branding, quality, or location). In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms.
Monopolistic competitive markets:
have products that are highly differentiated, meaning that there is a perception that the goods are different for reasons other than price;
have many firms providing the good or service;
firms can freely enter and exits in the long-run;
firms can make decisions independently;
there is some degree of market power, meaning producers have some control over price; and
buyers and sellers have imperfect information.
Answer:
B) Country A uses fewer resources to produce corn than Country B does.
Explanation:
An absolute advantage is a situation where a country or a company can produce some goods and services using fewer inputs compared to competitors. The company can produce more quantity of using the same amount of inputs than others. A country with an absolute advantage will manufacture a product at a lower cost than other countries or companies.
Absolute advantage enables companies and countries to gain from trade. Through specialization, a company will focus on what it can produce at a lower cost than others, and sell it. Country A has an absolute advantage if it can produce corn at a lower cost than country B.
Answer:
The law of diminishing marginal utility.
Explanation:
Marginal utility is basically satisfaction derived from consuming an extra unit of product. According to the law of diminishing marginal utility as consumption increases the marginal utility derived from each additional unit decreases.
So when we consume 1 chips marginal utility is high, then as more is consumed we still get some positive utility out of it but at a decreasing rate now. At some point this utility equals zero after which it starts declining as more chips are consumed because it is not providing any satisfaction now. Therefore the chips should be consumed only up to the point where the marginal utility equal zero.
Answer:
$80,000
Explanation:
From the information given:
2020 = $320000
= i.e. 2020 = $570000
= i.e. 2019 = $530000
Change = $570000 - $530000 = $40,000
= $2,500,000
= $2,300,000
Change = $2,500,000 - $2,300,000 = $ 200000
∴
= $320000 - $40,000 - $ 200000
= $80,000
