It is referred to as DECISION MAKING FOR SOCIAL RESPONSIBILITY. Social responsibility has to do with people and organizations behaving and conducting business ethically and with sensitivity toward cultural, economic, social and environmental issues.
<span>The equilibrium price level and the equilibrium output should both increase. This is due to the supply curve's upward sloping nature and the reduced interest rate's propensity to increase demand for goods and services. Since less money will be used for paying interest on loans disposable income will be available for other consumption choices.</span>
Answer:
But 1 Batman comics book, and 2 Superman comics book
Explanation:
Remember, Tom has only $5 to spend on the two books, with the goal of deriving maximum utility. Thus, if he spends on 2 quantity of Superman comics he deeives total marginal utility of 150 (58+92). Then, he may proceed to Batman comics, which gives him a marginal utility of 40.
Answer:
Yes, there was a bilateral mistake of material fact.
Answer: It is reasonable to assume that a profit-maximizing firm will never operate in the inelastic portion of its demand curve.
Explanation:
It should be noted that a firm that profit maximizing will not operate in the inelastic portion of its demand curve because at that point, the firm isn't maximizing profit.
When there's an inelastic demand, an increase in price will bring about a less than proportionate reduction in the quantity of the goods that's demanded. In such case, if the firm operates at the inelastic portion of its demand curve, when it increases price, this will lead to a reduction in income and profit will not be maximize.
