Answer:
The most applicable answer from my point is in such a scenario, producers overproduce the product because of a supply-side market failure.
Explanation:
So what is market failure? Simple, Market failure occurs when a market is unable to effectively and efficiently manage its resources because of the breakdown of price mechanisms functions which rare caused by negative and sometimes positive externalities.
In here, Supply side market failure occurs when the producers don't have to pay the full cost of their output. That is the actual cost of production is greater that the recorded cost.
In Market failure, the supply and demand of the market do not meet the equilibrium price and quantity and eventually leads to the loss of social welfare and ineffective economic decision making.
Imperfect information in the market and the increase of power in the sellers side could lead to supply side market failure.
Answer:
Key operating activities for a company include manufacturing, sales, advertising and marketing activities. The operating income shown on a company's financial statements is the operating profit remaining after deducting operating expenses from operating revenues
Explanation:
Answer:
The mean income is the average income of all households in the country, while the median income divides the total into two groups, those who earn above the median and those who earn below the median (i.e. the median would be middle point.)
If income inequality has increased then the mean income should rise above the median income since it is affected by extremes, e.g. the 10% richest earn 9 times more income than the lower 90%.
Since we are not given the increase in income inequality, we can assign any positive slope to the mean income.
CTSO stands for career and technical student organizatins. This organization is normally found in high schools, junior colleges and technical schools. This organization brings students at different levels and shows them how they can bring education into their different organizations.
Answer:
<u>low opportunity cost</u>
Explanation:
<u>Opportunity cost</u> is described as a process in which an individual sacrifices something when they tend to choose one thing or option over another option or thing.
<u>Low opportunity cost: </u>The term "low opportunity cost" is determined as the possibility of an individual's chosen investment returns to be lower than the forgone investment's returns.
