Answer:
The local government issues a limited number of restaurant licenses every year. (A)
Explanation:
Bertha claims that the burgers sold by Luke's Express Diner are priced a bit too high, because they enjoy monopoly power in the town; hence with the local government issuance of a limited number of restaurant licenses every year, this will break the monopoly that Luke's Express Dinner enjoy, thus weakening Bertha's arguments.
Answer:
Expected Loss will be $3
Explanation:
Expected Loss can be calculated by multiplying the probabilities to Net expected outcome.
Probabilities
Prize ( $460) = 1 / 100
Prize ( $80 ) = 2 / 100
Prize ( $20 ) = 4 / 100
No prize = 100/100 - (1+2+4)/100 = 93/100
Expected value = [( 460 - 10 ) x 1/100 ] + [( 80 - 10 ) x 2/100 ] + [( 20 - 10 ) x 4/100 ] + [( 0 - 10 ) x 93/100] = 4.5 + 1.4 + 0.4 - 9.3 = -$3
Answer:
The correct answer is letter "C": feedback.
Explanation:
Feedback control refers to obtaining improvement suggestions typically by consumers or suppliers in a supply chain that allows companies to increase efficiency in their processes. It is useful at the moment of measuring customers' satisfaction with the goods or services provided and could determine the likelihood of those individuals acquiring again goods or services from the firm.
In some cases, control feedback includes a comment section where clients can give additional information on what they would change of the service they received or from the good they bought.
Answer:
Income effect
Explanation:
Own price increases are associated with decreases in quantity demanded, ceteris paribus. These decreases in quantity demanded are composed of two effects, the substitution effect and the<u> Income effect.</u>
We know as per the law of demand, price increases lead to decrease in the quantity demanded if factor remain constant.
Quantity demanded has effect of two other major factors:
- Subtitution effect.
- Income effect.
Subtitution effect: It is the price of subtitution goods & services also lead to increase and decrease of demand for any particular goods.
Example: Price of tea and coffee.
Income effect: It is the income of consumer that effect the demand of any goods & sevices, as with the increase in income of consumer, their demand for inferior goods decreases and demand for branded goods increases.
Example: Non branded clothes and branded clothes.
Answer: A
Explanation:
The borrower can adjust the monthly payment depending on his or her income.
