Shift D1 right, showing an increase in demand and an increase in equilibrium price.
Answer:
The correct answer is letter "C": marginal thinking.
Explanation:
Marginal Cost of Production is an economic term that refers to the change in production costs resulting in producing one more unit. It is most often used within manufacturers as a means of identifying an optimum production level. The formula to calculate the cost of production is the change in total production cost divided by the change in total quantity produced.
As Marie is analyzing the extra benefit and cost of buying one more banana, economists would say she is performing "<em>marginal thinking</em>".
Answer:
Customers
Explanation:
A customer represents either a business or an individual that patronizes an organisation's products or services especially on a regular basis.
The role of the customer is to get their needs met by getting products or services offered, while the manufacturer or service provider's benefit is to derive income or revenue from the patronage of the customers.
Therefore, the customer - vendor relationship is a relationship that is critical to the continued existence of both parties.
<u>Since, Mrs. Jones goes to visit ABC market on a regular basis (Saturdays) with other shoppers, then these shoppers are customers to ABC</u>
Answer:
(D) an inferior good.
Explanation:
The inferior good had a negative relationship between income and demand.
When the income is lower, the demand increases as people moves away from normal goods to inferior as they are cheaper. And it will decrease once the income level return to his previous level.
This causes even more troubles in recessions to normal company's as the demand decrease and also, it shift to other goods.
The member of the trust board would owe his/her fiduciary responsibility to the community of Hershey.
Milton S. Hershey was the creator of the company, hence the very reason you would be in this position right now. As such, the legacy of Mr. Hershey would affect your thinking such that you act in the best interests of the company to allow it to grow further and larger, as this is what its founder would have wanted.
