Answer:
The correct answer is option A.
Explanation:
In an oligopoly market there are a small number of firms, who are interdependent on each other. The price and output of each firm affects the other firms. There is high degree of competition.
In this situation, producer's agreement to restrict output tends to be unstable. Each firms wants to earn more profits. Profits can be increased by reducing costs and increasing revenue.
So, each firm will have an incentive to produce more than its output quota, in order to earn higher profits.
Answer:
2,064,000×8/12 =1,376,000
1,212,000×7/12= 707,000
3,092,500×0=0
Weighted Average
expend.=2,083,000
good luck ❤
Answer:
should specialize in the production of goods for which they have a lower opportunity cost of production than their trading partners
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.
for country A,
opportunity cost of producing beans = 5/10 = 0.5
opportunity cost of producing rice = 10/5 = 2
for country B,
opportunity cost of producing rice = 5/10 = 0.5
opportunity cost of producing beans = 10/5 = 2
Country A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice
Country A should specialise in the production of beans and B should specialise in the production of rice
Answer:
Option A
Explanation:
In simple words, Maurice is confused that if he should work with animals or not. Working voluntary in an animal shelter would give him a first hand experience and will definitely clarify his doubts to a very good extent.
The ice cream parlor option do not provide him with any exposure. And researching is baseless s he is not sure if he even wants to work with animals. Last question is also incorrect as the case did not given any fact about his Monterey ambitions.
<span>Make buyers and sellers better off.
Markets give increased competition, where buyers have a range of options where they choose to purchase from. Any seller overcharging will not sell their product because customers can choose to purchase from the seller's competitors.
Sellers can also be better off because their supplies can also be bought from the best value competitor.</span>