Answer:
$3,000 and 7,000
Explanation:
Please find attached the table used in answering this question
Equilibrium price is the price at which quantity demand equal quantity supplied.
Equilibrium quantity is the quantity that equates quantity demand with quantity supplied.
Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded. As a result of the surplus, price would fall until equilibrium is reached.
Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied. As a result of the shortage, price would rise until equilibrium is reached
Deadweight loss is a type of economic inefficiency when a good or service is not at its economic equilibrium (where supply equals demand). This loss may be experienced because of a tax or subsidy, or because of market power, such as a monopoly. Economists refer to deadweight loss when they want to show the negative effects of certain policy decisions that are less than optimal.
Answer: D. All of these are reasons why operations management is important.
Explanation: Operation management is concern with converting materials and labor efficiently into goods and services for profit maximization. It is the administration of business principles in creating the highest level of efficiency within an organization.
Efficient and productive operation drives the economic well being of nations, Operations management is responsible for much of the value created by organizations and a key source of competitive differentiation among firms, are reasons why operation management is important.
<span>You would look at the different costs on the industry report. This can tel you a lot. Averages are when you take a sum of all of the different areas and then divide that by how many areas there were. This lets you know roughly how the industry is doing.</span>
