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eimsori [14]
3 years ago
10

Example of demand in economics.

Business
1 answer:
sweet [91]3 years ago
5 0
Examples<span> of the Supply and </span>Demand<span> Concept. Supply refers to the amount of goods that are available. </span>Demand<span> refers to how many people want those goods. When supply of a product goes up, the price of a product goes down and </span>demand<span> for the product can rise because it costs loss.</span>
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Answer:

d. the rate at which a person is willing to give up bags of fries to get more burgers while staying on the same indifference curve

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Marginal rate of substitution is defined as they way an individual nos willing to let go of one good in preference for another one while sustaining a particular level of utility or indifference curve.

An indifference curve is made up of different combinations of two products that a consumer's views as having the same value.

In the give scenario marginal rate of substitution measures the willingness of the individual to give up fries for burgers while maintaining a level of satisfaction

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Without a strong legal systems in a market economy:
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<u>A) private-sector entrepreneurs can expropriate the profits generated by the efforts of private and public entities.</u>

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