Technology has been considered the main purchasing agent
Answer:
I have 3 statements
Explanation:
The characteristics of oral narrations are as follows.
1) They can be real or imaginary.
2) They are structured in dialogue, monolog and paragraph.
3) It is written in past tense
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Answer: Correct. When there is an increase in supply and an increase in demand, the new equilibrium quantity increases but whether the equilibrium price increases or decreases is unknown.
Explanation:
When the demand for the shoes increased, it had the effect of shifting the demand curve to the right. At the same time, with six more firms coming into the market, the supply increased as well which had the effect of shifting the supply curve right as well.
The new equilibrium as a result of these movements will see the quantity increase. However, due to the shift of both the supply and the demand curve in the same direction, it is uncertain if the price will change or not.
The general rule is that if the rise in supply is more than rise in demand then the price will decrease. If they rise by the same amount then price will remain the same. It shows therefore that if both supply and demand rise at the same time, the effect on equilibrium price is unknown.
Answer:
If MPC is 0.8, Change in GDP = $500 million
If MPC is 0.95, Change in GDP = $2,000 million
Explanation:
<em>Expenditure Multiplier is the amount by which the real GDP will change if autonomous expenditure changes by a given amount.</em>
It is calculated as follows: 1/(1-MPC).
MPC is the portion of additional income that is spent. If the MPC is 0.8, then the expenditure multiplier will be = 1/(1-0.8) = 5
Using the first scenario with an increase in government spending by $100million, the resulting change in GDP would be
Change in GDP = change in autonomous expenditure × Multiplier
= 100 × 5 = $500 million
<em>Scenario 2, MPC of 0.95</em>
Expenditure Multiplier = 1/(1-0.95) = 20
Change in GDP= 100 × 20 = $2000 million
Answer:
b. contribution margin equals fixed costs
e. has a profit of $0.
Explanation:
The break even point is the point in which the firm has no profit and no loss situation. When it meets we called as break even point.
So, the break even point is the point at which the profit is zero plus the contribution margin equals to the fixed cost i.e means
Contribution margin = Fixed cost
Sales - variable cost = Fixed cost
If both are equal so it seems the profit is zero
