Personal computers
Sentence:
Examples of services are personal computers.
<span>Is called adaptation strategy. Adaptation is the process of modifying an existing product so it is suitable for different customers or markets. An adaptation strategy is important for companies, because it ensures that the product meets local cultural and regulatory requirements.</span>
Answer:
40$
Explanation:
Each cheesecake is being sold for 8$, Austin is buying 5 for 80$
5 cheesecakes ×8$ = 40
Austin is giving 80$ for the 5 cheesecakes which total 40$ ( 80-40) = 40$ is his consumer surplus.
Answer:
greater than economic profit because the former does not take implicit costs into account.
Explanation:
Accounting profit= total revenue - explicit cost
Total revenue =price x quantity sold
Explicit cost includes the amount expended in running the business. They include rent , salary and cost of raw materials
an example
revenue = 100
explicit cost = 50
implict cost = 20
accounting profit = 100 - 50 = 50
economic profit = 50 - 20 = 30
economic profit is less than accounting profit
Economic profit = accounting profit - implicit cost
Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives
Answer:
a. for pizza rises when income rises.
Explanation:
A normal good is a good that people purchase more when their income increases and that have a lower demand when their income decreases, for example, clothing. According to this, the answer is that Pizza is a normal good if the demand for pizza rises when income rises.
The other options are not right because a normal good is determined by the way in which the demand of a product behaves when the income increases or decreases.
