Answer:
As a result of half the orange crop being destroyed, there will be a shortage in the supply of oranges. This will shift the supply curve for oranges to the left as shown in the graphic.
Notice that the equilibrium price becomes higher. As a result of this, the Consumer surplus will <u>decrease</u> because they are now paying more than they would like to pay.
The situation will largely be the same in the market for orange juice because orange is the main component for orange juice. Orange juice supply will decrease and the supply curve will shift left.
Prices will rise and Consumer surplus will <u>decrease.</u>
<em>Note: Second graph x-axis is Quantity of orange juice. </em>
An employement contract if Edna is unable to complete the procedure, another surgeon with the minimum degree of expertise required for the procedure must take over the contract.
This example’s procedure is risky and connected to a risky surgery that would be best handled by Edna. Since the contract was based on Edna’s experience, it cannot be transferred to someone with the lower level of expertise required for this activity.In this case, Edna, a renowned brain surgeon in the United States, signs a contract to operate delicately on Ben’s brain. Edna, who has a lot going on, wants to give Charles, a less experienced surgeon who would be doing his first procedure of this kind, this contract because she is so busy.Because the contract between Ben and Edna involves personal talent, Ben can object to and stop this assignment (brain surgery).Evidently, Edna’s position as the top brain surgeon in the USA can be attributed to her competence and professionalism. With this knowledge at his disposal, Ben decided to enter into a contract with Edna, a skilled brain surgeon.
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Answer: B. Firm and competitor
Explanation: Rashi Glazer is of the opinion that information-intensive markets otherwise known as smart markets are breaking down traditional boundaries, thereby blurring the lines between product offerings, departments, and the firm with its external world, competitors inclusive. For firms deciding to follow the approach to technological advancement while leaving the stability of what already exists often place them at risks since these advancements are by nature risky. Choosing not to either places them at a disadvantage to those firms who decide to and are successful.
<span>Net gain of $0.40 per headlight.
Let's calculate how much it will cost Peluso to make each headlight.
First, let's add the direct labor and materials costs
$3 + $4 = $7
Now let's add the manufacturing overhead that would actually be affected by making head lights. Since 40% is unaffected, we need to multiply the overhead by 100% - 40% = 60% before attributing that cost to the headlights. So
$6 * 0.60 = $3.60
And let's add that to the current cost of making the headlight
$7 + $3.60 = $10.60
And finally, let's subtract that from the cost of the headlight if outsourced.
$11 - $10.60 = $0.40
So the Peluso company will save $0.40 per headlight that they manufacture themselves.</span>
