Answer:
The correct answer is option A.
Explanation:
A production possibility curve shows the different bundles of maximum possible two goods that can be produced using the given resources. The production possibility curve is concave to the origin.
This shape of the curve is because of opportunity cost. We know that to increase the production of one commodity we need to sacrifice production of its alternative.
The resources can not be perfectly substituted and the opportunity cost goes on increasing with the increase in output, that's why the production possibility curve is bowed out or concave to the origin.
The aggregate demand curve shows a relationship between aggregate price level and demand at the given spending growth.
<h3>What is demand?</h3>
Demand is explained as the requirement of a certain product in the market, usually this demand is varied if the prices are changed and the demand also is impacted by the supply.
If the prices are high it is highly likely that the demand of that product will reduce if the product is not a necessity.
If the prices are lower the demand for the product will increase.
Learn more about demand and supply at brainly.com/question/27305760
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Answer:
The correct answer is option A.
Explanation:
Sophie is willing to sell a textbook for $30, while Ruby is willing to purchase it for $60. Both negotiate and agree on a price of $45.
The gain for Sophie will be the difference between the minimum price she was expecting and the price she gets for the textbook.
Gain for Sophie
= $45 - $30
= $15
The gain for Ruby will be the difference between the maximum price she was willing to pay and the price she actually paid.
Gain for Ruby
= $60 - $45
= $15
So, both of them have a gain of $15 from trade.
Answer:
A late fee will be charged.
Explanation:
hope this helped