Answer:
firm can change output levels without having any significant effect on price.
Explanation:
In the case when we say that the firm is a price taker that means the firm has the power to change the level of an output but this does not have any kind of impact on the price. They accepted the price for the prevailing market and each unit could be sold at the similar market price. It could impact the market price also they enjoy the pricing power
Therefore the above statement should be considered
Answer:
a. does not shift
b. shifts to the left
c. increases
a. decreases
Explanation:
As a result of the drought affecting the supply of cream, the supply of chocolate would fall. As a result, the supply curve would shift to the left. The demand curve would remain unchanged.
As a result of the leftward shift of the supply curve, the equilibrium price would increase and quantity would fall.
Answer:
(a) The market equilibrium rent is $1,400 and the equilibrium quantity is 15 thousand apartments.
(b) With the price ceiling, the rent is $1,000 per apartment and the quantity rented is 10 thousand apartments.
(c) The excess demand for apartments with the price ceiling is 20
Explanation:
(a) At equilibrium, demand function equals supply function
1700 - 20Q = 80Q + 200
1700 - 200 = 80Q + 20Q
100Q = 1500
Q = 1500/100 = 15
Substitute the value of Q in the demand function
P = 1700 - 20Q = 1700 - 20(15) = 1700 - 300 = 1400
Equilibrium rent = $1,400
Equilibrium quantity is 15 thousand apartments
(b) Rent with price ceiling is $1,000 per apartment
Substitute the value of P in the supply function
P = 80Q + 200
1000 = 80Q + 200
1000 - 200 = 80Q
80Q = 800
Q = 800/80 = 10
Quantity rented is 10 thousand apartments
(c) Quantity demanded (Q) with price ceiling = (1700 - P)/20
P = 1000
Q = (1700 - 1000)/20 = 700/20 = 35
Excess demand = 35 - 15 = 20
Answer:
The answer is below
Explanation:
With suppliers across over 60 countries all around the globe, Google continues to organize its supply chain quite efficiently.
Hence, Google’s supply chain management can be summarized in the following key points:
1. Getting reliable suppliers: Google ensures they work with trustworthy suppliers by conducting robust appraisal based on a variety of factors, such as country-specific risk, product-specific risk, suppliers' past records, supplier relationships, etc.
2. Suppliers code of conducting business: this involves social and environmental responsibility and as well as safe working conditions for suppliers' employees.
3. Effective Management of Suppliers Diversity: Google identifies and supports all forms of suppliers' community, regardless of countries, gender, age, disability status, or even sexual orientation of the suppliers. This implies that Google keeps respecting and valuing the contribution of every associated with its supply chain in any capacity.
4. Promoting Tools and Techniques to Supports Suppliers: Google prioritizes training and energy conservations, cost reductions, and product enhancement, for its suppliers, which contribute to easy access to clean and renewable energy.
