In the economic term oligopoly, olig means few. So in an oligopoly, the market or industry is run by a small number of large sellers. When there are a few number of sellers, they have a large influence over their customers and the economy.
The expansionary fiscal policy will shift the aggregate demand curve from <u>AD0</u> to <u>AD1</u> and equilibrium will move from point <u>a</u> to <u>b</u> if the economy starts below full employment.
<h3>What is the below
full employment?</h3>
Its means when an the short-run real gross domestic product is lower than that same long-run potential real gross domestic product.
Hence, the economic situation will elicit a policy of expansionary fiscal which will affect the aggregate demand graph.
Therefore, the aggregate demand curve from <u>AD0</u> to <u>AD1</u> and equilibrium will move from point <u>a</u> to <u>b</u> if the economy starts below full employment.
Read more about aggregate demand
<em>brainly.com/question/1490249</em>
The number of adjustments that Steve has to make for Jones's property is 0.
<h3>What is a comparative market analysis?</h3>
The comparative market analysis is the term that is used to refer to the estimate of the value of a person's home which is based on all of the other homes that are similar homes in the area.
The adjustments that have to be made to a property is going to be 0 based on the property.
Read more on market analysis here:
brainly.com/question/17246850
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Answer:
an increase in equilibrium price and an indeterminate effect on equilibrium quantity.
Explanation:
An inferior good is a good whose demand increases when income falls and reduces when income rises.
If ramen is an inferior good, when income falls its demand would increase. This would lead to a rise in quantity and price.
An increase in the price of wheat would increase the cost of production of ramen. As a result, the supply of ramen would fall. Price would increase and supply would fall.
The combined effect would be an increase in equilibrium price but an indeterminate effect on equilibrium quantity.
I hope my answer helps you
Answer:
Standard Overhead rate is $1.25 per Direct labor hours
Explanation:
Total variable cost (2000 unit * $2.50) = $5,000
Total fixed cost = <u>$5,000</u>
Estimated Overhead cost = <u>$10,000</u>
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Estimated Direct labor hour = 2000 unit * 4 hours = 8,000 hours
Standard Overhead rate = Estimated overhead cost / Estimated Direct labor hour
Standard Overhead rate = $10,000 / 8,000 hours
Standard Overhead rate = $1.25 per Direct labor hours
