Answer:
fulfilling many needs and wants of society
Explanation:
In producing a product during production, it is always important to ask if society needs the product that we are developing. The key to every successful product is to answer whether the consumer meets the needs.
I dont know if this correect....you don't have any options(^^):^>.<
Answer:
The answer is: A) When the marginal cost of producing an additional unit equals the marginal revenue from that unit.
Explanation:
In economics, we assume that a company´s main goal is to maximize its profit. In order for any company do to this, the marginal cost (MC) of producing an extra unit of production must equal the marginal revenue (MR) obtained by selling that extra unit of production.
Theoretically, in perfect market conditions, MR=MC in the equilibrium point between quantity supplied and quantity demanded. But on real world conditions elasticity of both demand and supply alter the curves.
Answer:
research four other examples of inferior goods.
There are many examples of inferior goods. Inferior goods are al those goods whose demand rises in times of economic recession. Some examples are:
Cheap food substitutes like supermarket coffee, instantaneous ramen, or canned vegetables.
Cheap clothes.
Flights in low-cost airlines.
Consider the impact of economic recessions and expansions on normal goods.
Economic recessions impact normal goods negatively because people have less income to spend, and they opt to substitute the normal goods for inferior goods.
discuss how revenues of inferior goods producers are expected to be affected by economic recessions and expansions.
In economic recessions, revenues for producers of inferior goods are expected to rise because demand for inferior goods grows. However, because inferior goods are precisely cheaper, this does not necessarily mean that every inferior good producer will make a lot of money.
In economic expansions, revenues for producers of inferior goods will fall, because people, with more income, will flock to normal goods or even luxury goods.
The questions which would result in data that is categorical are:
- Is your job as an IT administrator stressful?
- What is your biggest source of stress?
- How has your job impacted your personal life?
- Have you ever considered switching careers because of on-the-job stress?
<h3>What is a numerical data?</h3>
A numerical data is also referred to as a quantitative data and it can be defined as a data set that is primarily expressed in numbers only. This ultimately implies that, a numerical data refers to a data set consisting of numbers rather than words.
<h3>What is a categorical data?</h3>
A categorical data can be defined as a type of statistical data that is used to group information that are having the same attributes or characteristics.
In Science, some examples of a categorical data include the following:
- Age
- Gender
- Race
- Religion
- Class
In conclusion we can infer and logically deduce that the questions above would result in data that is categorical.
Read more on categorical data here: brainly.com/question/20038845
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Answer:
$8.19 million
Explanation:
A movie star was paid $1 million in 1960 to do a movie
The CPI was 29.3 in 1960
The CPI in 2014 was 240
Therefore the amount that was earned in dollars by the movie star in 2014 can be calculated as follows
= 240/29.3
= 8.19 × $1 million
= $8.19 million
Hence the movie star earned $8.19 million in 2014