First of all, a <em>supply curve</em> is a chart in Economy that shows us the relation between Price and Quantity of a certain good or service. Several factors may cause this curve to shift to the left or right, e.g.: An increase of customers' purchase power, the decrease of the need for a certain product by the population, and so on...
a. Resource prices rise is another example, and would cause the supply curve to shift to the left. As with it, the final price of the products that depend on this given resource for their production, would rise, hence causing their buyers to purchase fewer quantities of them.
b. If a quota is placed on a good, it would also cause this good's final price to rise, hence causing the consumers to buy less, hence shifting the curve to the left as well.
<em>Note: </em>Of course, these are assuming that the goods in question are <em>non-essential </em>goods. That is, people may choose to buy less of them. In case of essential goods (like toilet paper, or electric power for example), people would still consume it regardless of changes in price! And in that case, the curve would stay still, or even shift slightly to the right, upon a price rise.
Answer: When the mind is unbiased
Explanation: Making rational decisions requires one to be unbiased either as a result of religious, racial or gender influence. It also requires one to be in the right frame of mind at the time of making the decision. Emotional decisions could occur if one's judgment is influenced by religious, cultural or social inclination or sympathy towards a particular group. It could also stem from one's present state of mind at the time the judgment is passed, hence making one's judgment more of emotional than rational.
In other to make rational decisions one should be in the right frame of mind, free from external influences which could induce bias into one's decision.
Answer:
$4 million
Explanation:
According to former ESPN boxing reporter Dan Rafael, Fury and Wilder were contractually guaranteed $5 million each in their second bout but ended up earning more than $25 million apiece. Wilder earned a disclosed purse of $4 million in their first fight while Fury earned $3 million, according to SportsJoe.
1. Typically you would have higher prices because if you don't have to compete with another person to sell more product you can have the price super high and as the only person selling you can sell for as much as you want
