A: raises
B: lowers
c: does not change
I would put B as the answer because the government helps control the price so everyone can rent an apartment.
A. True
The CPI is a measure of the cost of a "basket" of typical consumer goods, so if the cost of these goods goes down most families will spend less on average.
Answer:
Mel
If Mel is risk-neutral, then in the absence of trip insurance, the most she will be willing to pay for the cruise is _______.
c. $1,220
Explanation:
a) Data and Calculations:
Mel's value of a cruise in nice weather = $2,000
Mel's value of a cruise in bad weather = $50
Probability of nice weather = 60%
Probability of bad weather = 40%
Expected value:
Weather Outcome Probability Expected Value
Nice weather $2,000 60% $1,200
Bad weather $50 40% $20
Total expected value of a cruise $1,220
The right answer for the question that is being asked and shown above is that: "a cooperative a nonprofit organization." a semi-independent business that pays fees to a parent company in return for the exclusive right to sell a certain product or service in a given area called <span>a cooperative a nonprofit organization</span>
Answer:
A. Shift the supply of cars out and to right, decreasing the equilibrium price of cars, but increasing the equilibrium quantity.
Explanation:
The effect of technology on supply is that it will shift supply to the right. As cost of production reduces, producers can have more output at the same cost.
There will be excess supply (surplus), so customers will pay less for the product.
The equilibrium quantity will also increase as more cars are available in the market.
This is illustrated in the attached diagram. Equillibrum price reduces from P1 to P2. The equillibrum quantity increases from Q1 to Q2.
Government can influence cost of production through taxes, regulations and subsidies. Therefore they also influence shift of supply curve.
