Answer: Option E
Explanation: Opportunity cost refers to the cost of loosing profit while choosing one alternative over other.
Taking the given case into consideration, if we invest more in capital goods today then the future generation will get more consumer goods and vice - versa. However as the capital is a limited resources we have to make a choice between capital goods and consumer goods in the present.
Hence if we invest more in capital goods today we will be having less of consumer goods.
Answer:
<em>Options Include:</em>
A. demand will become more price elastic.
B. price elasticity of demand will not change as price is lowered.
<em>C. demand will become less price elastic. is Correct</em>
D. the elasticity of supply will increase.
Explanation:
<em>Typically as a broadly accurate guide, the product is called elastic if the quantity of a good demanded or purchased increases more than the change in price. </em>
(Price increases by + 5%, but demand decreases by -10%). When the shift in the purchased quantity is the same as the price change (say, 10 per cent/10 per cent= 1), the product is said to have price elasticity unit (or unitary).
Eventually, when the purchased quantity changes less than the price (say,-5 per cent demanded for a price change of+ 10 per cent), then the product is called inelastic.
Answer:Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350; social security tax rate, 6.0%; and Medicare tax rate, 1.5%.
Explanation:
Answer: credible commitment
Explanation:
From the question, we are informed that BioGrow Pharma Inc. wanted its research partner, an R&D company, to develop a cancer vaccine but that the project required huge capital investments, and its research partner was not ready to solely face the risks involved.
Therefore, to gain its partner's confidence and to prove its involvement, BioGrow Pharma invested $100 million in the project. This investment made by BioGrow Pharma will result in a credible commitment.
Answer:
The correct answer is: legal barriers.
Explanation:
A monopoly is a market structure where there is only a single firm, there is a restriction on the entry of firms. This gives firms a certain degree of market power.
The monopolies are able to retain their market power through restrictions on the entry of other potential firms. These restrictions are of different types such as exclusive ownership of a resource, legal barriers, increasing returns to scale.
In this particular scenario of patents, the barrier to entry is a legal barrier. The other potential firms are legally restricted to enter the market as they do not hold a patent.
