Answer:
The answer is: Supply curves must reflect all costs of production, and demand curves must reflect consumers´ full willingness to pay.
Explanation:
The characteristics of a competitive market are:
- Many buyers and sellers
- Companies make a similar product.
- Both buyers and sellers have access to perfect information about price.
- No transaction costs.
- No barriers to entry into or exit from the market.
Theoretically if all of the above conditions occur, profit maximizing companies will combine with utility maximizing consumers, and markets will tend to produce efficient outcomes.
Answer: Option C
Explanation: In simple words, inelastic demand refers to a situation when the demand of the buyer does not change as per the price of the commodity. Thus, the price does not increase or decrease with decrease or increase in demand.
Hence the farmers should decrease the supply as there would be no profit for them to supply a product that has an inelastic demand.
Answer:
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Answer:
c. Stressed polar bears exhibit obsessive patterns of behavior.
Explanation:
- If a polar bear is bred in captivity they show an obsessive pattern of behavior.
- Such as the passing of the back and forths on the same spot and swimming on their heads from side to side.
- And also use their paws to repeatedly strike their heads as a sign of stress. This shows that they don't do well in captivity.
Answer: Proceeds transaction
Explanation:
In a proceeds transaction, the broker is involved in two related transactions which are the selling of one stock and the buying of another.
Proceed transactions involve a customer asking their broker to sell their stock and then use the proceeds gained from that sale to buy another stock which is what the customer did when he directed his broker to sell ABCD stock and use the proceeds to buy XPDQ stock.
