Answer:
B. The difference between sales revenues and the costs associated with those sales
Explanation:
The amount of profit made by the company after deducting the total costs which have been incurred in the making and the selling of the product is said to be gross profit. The gross profit is calculated by subtracting the amount of revenue and the cost of the goods sold. Fixed cost is not included in the gross profit. It includes only variable costs.
Answer:
The correct answer is B. demand for good X will increase.
Explanation:
Two goods, X and Y, are said to be substitutes if they can be used to serve the same purpose. Thus, if good X is a substitute to good Y, then X can be used in place of Y and Y can be used in place of X.
For substitute goods, the cross-price elasticity of demand is positive. This means that if the price of one good rises, the demand for the substitute good increases.
Option C wearing straw hats become popular
It should be noted that total product begins to fall when D. marginal product is zero.
<h3>What is total product?</h3>
It should be noted that total product simply means the total output that's made by the employees.
Total product begins to fall when the marginal product is zero. In this case, the total product has reached its maximum.
Learn more about total product on:
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Answer:
b. aggregate demand shifts right
Explanation:
When the aggregate demand curve shifts right, the quantity of output demanded for a given price level rises. Therefore, a shift of the aggregate demand curve to the right represents an economic expansion.
