Answer:
d) will become an importer of tomatoes.
Explanation:
Consumer surplus would increase because the price at which they buy tomatoes would reduce while producer surplus would reduce because the price of tomatoes would reduce as a result of international trade.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.Because the price of tomatoes in the US is greater than the price of tomatoes in the world, when the US begins international trade, it would import tomatoes because it is inefficient in the production of tomatoes.
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Answer:
$3,960
Explanation:
The Borrowed amount is $198,000 on November 1, 2021.
The interest expense at December 31, 2021 is calculated as shown below:
I=PRT
R=12%=0.12
P=$198,000
T=2 Months=(2/12) year
I=198,000*0.12*(2/12)
I=$3960
The correct option will be "B. $3,960."
Answer:
c. 80 dollars.
Explanation:
Opportunity cost represents the next best alternative missed. It is the forfeited benefits arising from choosing one option over the others. Opportunity cost is expressed as a value or the worth of the forgone alternative.
Lisa's opportunity cost is $ 80. She has valued going out with her friend at $ 80, which is the highest value amongst her three choices. Since she can not engage in all the three activities at the same time, the next best alternative to writing her exam is the opportunity cost.
Answer:
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- <u>1. The slope is negative</u>
- <u>2. The demand decreases when the prices increase.</u>
Explanation:
<em>Describe the slope of the demand curve?</em>
<em>The slope of the demand curve</em> is negative.
The demand curve is graphed on a coordinate plane with the price in the horizontal axis (typically the x-axis) and the demand on the vertical axis (y-axis).
Thus, the slope will be the rate of change of the demand over the change on the price.
Mathematically:
Since, as you move from left to right, on the x-axis, the prices increase, and the demand (on the y-axis) lowers, the change in demand is negative and the change in the prices is positive, resulting in a negative slope.
This is seen graphycally because the demand curve is decreasing (downward-sloping).
<em>How does the slope reflect the law of demand?</em>
The slope reflects perfectly <em>the law of demand</em> because the law of demand states that, since the resources are scarce, when the prices incrases the quantities demanded decrease.
Answer:
Devil’s advocacy
Explanation:
Devil’s advocacy is a thorough analysis of a preferred alternative to check and test its strengths and weaknesses before being implemented with the purpose of identifying all the faults that might make the preferred alternative unacceptable.
This method helps in determining the dangers of any action taken by an individual or group of persons.
