The correct answer would be, The Law of Demand.
Prices are much higher than formerly. Siemienas says, 'Yes my prices are high, if nobody buys, i bring my prices down. This is the market rule'. This rule best describes The Law of Demand.
Explanation:
In the field of economics, there are two basic concepts of Demand and Supply.
According to The Law of Demand, When the price of the good or service increases, the demand for that product or service decreases, and if price of the good or service decreases, the demand for that product or service increases, keeping all other factors constant.
So this is what Siemienas says that if the demand for his product will decrease, he will decrease the price of the product in order to maintain the sales of his company.
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Answer:
D
Explanation:
Marginal decisions involves considering the cost and benefit of taking a particular action. If the marginal benefit of taking a particular action exceeds the marginal cost, the activity should be undertaken
Option C. Diversity of the planning group: Often results in more comprehensive and creative planning.
<h3>What is diversity?</h3>
This is the term that is used to refer to a group that is made up of people that are from different cultures, areas and fields.
In such a group there is the tendency for creativity if they are able to work together and share ideas.
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Answer:
C i think i dont really know tbh
Answer:
The opportunity cost of each pipe and sunk cost of each pipe is $ 8 and $6 respectively.
Explanation:
Opportunity cost: The opportunity cost is that cost which gives the best alternatives options.
Sunk cost: The sunk cost is that cost which is incurred in the past and hence, not recovered in the future.
So, in the given question, the opportunity cost is $8 per pipe as it reflects new current price whereas, the sunk cost is $6 per pipe ($8 per pipe - $2 per pipe) that cannot be recovered in the future