Suppose the local slaughterhouse gives off an unpleasant stench. the price of meat would then be too low because not all of the costs are accounted for in the marketplace.
When the price of an item increases, buyers tend to purchase less of that item due to both the substitution effect and the income effect. When the pizza was on sale at the student council he was selling for $2, Mo didn't buy any. When the price dropped to $1.75 he bought one for Moe's daily lunch.
An increase in demand and a decrease in supply raises the slaughterhouse price, but the effect on the equilibrium quantity cannot be determined. 1. For each quantity, consumers should place a higher value on the goods and producers should set a higher price to supply the goods. Therefore, the price is higher.
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Answer:
the answer is innovation contest I think
Answer:
The factor market
Explanation:
The factor market refers to buying and selling of factors of production. Factors of production are land, labor, capital, entrepreneurship. Prices of factors of production are determined by interaction of supply and demand forces. By Dave offering his labor, he receives wages as a reward for the factor of production he provides i.e. labor.
Answer:
I used an excel spreadsheet because there is not enough room here.
Explanation:
The total account Dept as of the statement date is known as the balance.
