Answer:
Equilibrium quantity: 145
Equilibrium price: $140
Explanation:
In order to find the answer, first we determine the current difference between quantity supplied and quantity demanded.
Quantity supplied - quantity demanded = difference
125 - 165 = -40
So we have a shortage of -40 units.
We have the information that a $1 increase in price increases supply by 2, and decreases demand by 2. Thus, in order to close the shortage, we need a $10 price increase, because this will raise supply by 20 units, and lower demand by 20 units as well, bringing the 40 gap to 0.
For this reason, the equilibrium quantity is 145 units, and the equilibrium price is $140.
In a pure market economy, the "What to produce?" question is ultimately answered by : consumer sovereignty.
Explanation:
Market autonomy is a two-way economic concept. Market autonomy in production applies to what finished products should be produced from these materials to the control power of the customers over those with scarce resources.
For example, the highest levels of consumer autonomy occur of consumers on the free market. The customer can buy any product in any quantity he wants. But the state or central government decides what to manufacture in a command economy.
Answer:
It increased the depth of their product mix.
The depth of the product mix is basically how many different types of variations of the same product are offered, e.g. Coke, Diet Coke, Coke Zero, etc. Increasing product depth involves new flavors, different package sizes or other specific characteristics regarding the product.
Product width refers to the different types of products offered by the company, e.g. Toyota offers sedans, trucks, SUVs, minivans. In this case, product width is not affected.
Answer:
it a person that is in line to be the nexted manger
Explanation:
Answer:
From the bank statement of $23000 the needs are:
- cell phone plan = $45
- rent = $400
- car insurance = $60
- Electric bill = $60
- car payment = $250
Explanation:
A need is something needed for an individual to live a fulfilling life without adverse effect. if a need is not fulfilled it can cause an adverse effect like sickness,death or it might cause a fine or penalty.
cell phone plan is an need because without a cell phone plan a cell phone user might be unable to communicate properly with his business associates and family who might not always be with him and he might be unable to pass along proper and timely information as well
Rent is necessary because housing is one of the most important needs of a man without rent plan there would be no proper housing
car insurance: insurance helps to reduce the burden of accidents on the car owner. if he fails to pay his insurance when due. if the car is caught up with eventualities of accident, the insurance company might not respond to him
Electric bill : this is a very important need as well in America. failure to pay the electric bill results to shortage of electricity and electricity is vital to everyday living.
car payment: the regular payment of car loans helps to escape the penalty of late payment hence this is a need.
