The answer is "consumerism or consumption".
Consumerism refers to a social and financial order and belief system that empowers the obtaining of merchandise and enterprises in regularly expanding sums. With the industrial revolution, however especially in the twentieth century, large scale manufacturing prompted a financial emergency: there was overproduction, the supply of products would develop past buyer request, thus makers swung to arranged out of date quality and publicizing to expand buyer spending.
A free<span> market economy is one in which the government </span>does<span> not set or control prices, supply, or demand. A </span>laissez-faire<span> economy is one in which transactions between different companies or people are not subject to tariffs, government subsidies, and enforced monopolies.
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Complete question:
The marginal utility of the last unit of apples consumed is 12 and the marginal utility of the last unit of bananas consumed is 8. What set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium
a. $8 and $12
b. $6 and $4
c. $16 and $9
d. $4 and $6
Answer:
$6 and $4 set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium.
Explanation:
Given,
The marginal utility of the last unit of apples consumed = 12
The marginal utility of the last unit of bananas consumed = 8
Now ,
To find :
The market level for apples and bananas, respectively, will be compatible with the consumer's equilibrium:
= = $6
= = $4
$6 and $4 set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium.
Answer:
Letter D is correct.<em> Extreme value retailers.</em>
Explanation:
Extreme value retailers are those whose focus is on offering customers very low prices. This type of consumer price pass-through can be guaranteed by the strategy of such retailers that reduce advertising costs and other marketing variables, and purchase their supplies from ideal suppliers who already sell at lower market prices.
They are therefore able to achieve price advantages by marketing non-durable goods, which are those that are made to be consumed immediately and constantly.
Answer:
$0
Explanation:
The computation of the value of firm profit is shown below:
As we know that
Profit = Total revenue - Total cost
where,
Total revenue is
= 10 widgets × $15
= $150
And,
Total cost = Variable cost + Fixed cost
= 10 widgets × $13 + $20
= $130 + $20
= $150
So, the profit is
= $150 - $150
= $0
Hence the firm is in break-even point where there is no profit or no loss