Answer:
Psychological value
Explanation:
Psychological value :
In psychology Value alludes to the relative significance that an individual places on a thing, thought, individual.
The term value has two related at this point particular implications. In its social-mental significance, conversely, a worth is a dynamic, attractive end express that individuals take a stab at or plan to maintain, for example, opportunity, dedication, or convention.
Answer:
A competitive price-searcher market is a market where there are low entry or exit barriers, and the suppliers can determine the price of their products. Some economists believe that this type of market is inefficient because the suppliers are not able to sell enough output in order to minimize their average costs. Since the demand is very elastic in price searcher markets, any price change will cause a drastic change in the quantity demanded.
Price searcher markets share a lot of similarities with perfect competition markets, the main difference is that suppliers and consumers are not price takers. This means that any supplier can change their sales output by changing their price, which leads to greater competition.
Answer:
$7.90 per unit
Explanation:
The computation of the minimum price on these defective units is shown below:
It is equivalent to the selling & admin variable cost per unit i.e. $7.90 per unit
oAs all the other cost would be considered as a sunk cost because the product is already generated and the fixed cost is not considered as it would remain the same whether the production is increase or not
Therefore the second option is correct
Answer:
The substance does not contain carbon
.
Explanation:
Usually, an inorganic substance is a type of chemical substance that loses bonds with carbon-hydrogen, that is, a product that is not biological.
- The difference, though, is not defined and accepted, and experts have varying views on the matter.
- An inorganic compound, any material which generally combines two or more chemical compounds other than carbon, almost always in clear and obvious percentages.
Answer:
a. oligopoly.
b. an economic profit.
c. economic profits will fall.
Explanation:
An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.
Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.
The characteristics of an oligopolistic market structure are;
I. Mutual interdependence between the firms.
II. Market control by many small firms.
III. Difficult entry to new firms.
Hence, a firm operating in the United States of America with only two other competitors in the industry is likely to be an industry that would be characterized as oligopoly.
Additionally, business firms operating in this industry (oligopolistic market) will likely earn an economic profit. Also, if foreign business firms begin supplying the product, increasing the number of competitors, it is likely that economic profits will fall because the industry is now being competitive and controlled by other business firms.
