Agency problems are most associated with: Multiple Choice 1. limited liability companies. 2. limited partnerships. 3. corporatio
1 answer:
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If the<u> demand curve is inelastic</u>, a rise in the supply of grain will result in a decrease in the overall income received by grain producers.
The ability of firms to enter and exit a market over time means that, in the long run, the supply curve is more elastic.
Two basic economic concepts are combined in the law of supply and demand to explain how shifts in the price of a resource, good, or service affect its supply and demand. As the price rises, supply increases while demand decreases. On the other hand, as the price falls, demand increases and supply becomes more limited.
The degree to which changes in price translate into changes in demand and supply is known as the product's price elasticity.
Basic consumer demand is comparatively inelastic, or less responsive to price changes.
Discover the long-term impact of population growth on supply and demand: brainly.com/question/13353440
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Answer: 16 Banana's or 8 Apples
Explanation:
Budget constrain is a mathematical expression which shows us the quantity of goods that can be purchases at given prices and income. Since, income of the consumer is limited, he must allocate his consumption in a way that he can buy maximum goods at the given prices.
The budget constrain faced by the person is
If the person spends all his income on Apple's, he buys
= 8 Apples
If the person spends all his income on Banana's, he buys
= 16 Banana's